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Posts tagged “oil companies”

By Robert Rapier on Aug 1, 2011 with 114 responses

‘Tis the Season for Oil Company Misinformation

In my travels around the globe, I have never been to another country that regards their oil companies as we do here in the U.S. I have actually been in countries where people view their domestic oil companies as a source of national pride. Here in the U.S., the average person on the street views our oil companies as vile, greedy parasites on taxpayers that should be tarred, feathered, and run right out of the country. While this belief is commonly held among Democrats, even staunch Conservatives like Bill O’Reilly have gone on anti-oil company rants, while offering suggestions like “American oil companies must supply the federal government with a written explanation every time they raise the price of gas… Continue»

By Robert Rapier on Jul 12, 2011 with 43 responses

Barack Obama: A Mediocre President

In 2008, I believed all year long that Barack Obama would win the presidency. Even when Hillary Clinton was still the favorite to win the nomination, I thought Obama’s charisma would ultimately win him the Democratic nomination, and then the presidency. The night before the election I wrote that I thought he would capture more than 300 electoral votes (he got 356) and would beat McCain by more than 100 electoral vote (the margin of victory was 192 electoral votes). On the night of the election, I wrote a post congratulating him. I was happy to see him elected. But in the same post I also predicted that he would disappoint many. There is no question that Obama inherited a… Continue»

By Robert Rapier on May 16, 2011 with 40 responses

Analysis Requested by Senate Democrats Highlights the Risks of Their Energy Proposals

This essay highlights the reason I loathe politics. Here I present a case in which politicians present a partial story and withhold key findings in order to push a specific agenda. But their trump card is that if things don’t go as planned they can assign blame elsewhere. The media is complicit because they have simply lapped up the claims uncritically without having a look at the original source material. Before I get into that, I want to make one thing crystal clear. I want to see oil consumption in the U.S. drop significantly. But to the extent that we require oil, I would like to see that oil produced domestically. I have offered very specific proposals on how to… Continue»

By Robert Rapier on May 11, 2011 with 52 responses

Getting to the Bottom of ExxonMobil’s Taxes

As I noted in a previous essay, rising gas prices inevitably mean that our political leaders start looking to assign blame. The annual ritual has been to call the CEOs of the biggest oil companies in the U.S. to Washington so politicians can engage in a bit of political theater. The 2011 dog and pony show has now been scheduled: Oil-industry CEOs to get grilled by Congress At a Senate hearing, the CEOs will be pressed to explain why gasoline prices are so high — they average nearly $4 in most places and have topped $5 a gallon in few cities. Democrats are also planning to pressure the companies to renounce long-standing government subsidies totaling billions of dollars a year…. Continue»

By Robert Rapier on May 2, 2011 with 79 responses

Getting Even With ExxonMobil

It is no secret that consumers are suffering from very high gasoline prices. And as a result of these high prices, ExxonMobil just reported a first-quarter profit of $10.7 billion — 69 percent higher than a year ago.  The national level of disgust and anger is approaching record levels as we watch the loss of our hard-earned dollars become Big Oil’s gain. The question is, what are we going to do about it? Before discussing how to deal with this, we should first discuss what it is that we are actually trying to do. I believe the very simplistic view is that by going after the oil companies, they are going to relent and lower gas prices. Thus, their profits… Continue»

By Robert Rapier on Apr 28, 2011 with 82 responses

Breaking Down Gas Prices for Whoopi Goldberg

Introducing the “Energy Ticker” There has been a lot of important energy news this week; in fact so much that I could hardly hope to cover it all. Due to the volume of new energy stories every day, we at Consumer Energy Report have instituted a new feature designed to keep readers up to date on recent important energy-related news stories. That page, called the “Energy Ticker” (image to the right), will serve as the new homepage for Consumer Energy Report. Stories currently featured there include articles on gas prices, peak coal, global warming, energy storage, oil company subsidies, new energy technologies, and BP’s quarterly profits. Readers can even submit their own news links via a simple form. Our plans… Continue»

By Robert Rapier on Nov 28, 2010 with 74 responses

Addressing Oil Company Subsidies

Following my recent essay on the elimination of the VEETC, the major ethanol subsidy in the U.S., some ethanol supporters argued for continuing the subsidies because oil companies receive subsidies. There are many versions of the oil subsidy argument – some of them grossly in error – but I won’t argue about what is and is not an oil subsidy. I do believe that gasoline at the pump is subsidized in various ways. But these subsidies aren’t as simple as a credit based on the number of gallons of gasoline sold – as is the case with the ethanol subsidy. If they were, they would be much easier to eliminate. My solution to addressing these hidden subsidies would be to… Continue»

By Lloyd McGraw on Apr 13, 2010 with no responses

US Re-Evaluates Its Drilling Royalty Rates

Global study is designed to examine whether private fuel producers are paying enough for drilling on Federal lands.

By Robert Rapier on Sep 22, 2009 with no responses

Book Review: Crude World

Introduction It succors and drowns human life. And for the last eight years, oil — and the people and places that make it — was my obsession. – Peter Maass Today a new book by Peter Maass was released. The book is called Crude World: The Violent Twilight of Oil. Peter Maass is a name you may know from a 2005 article that he wrote for the New York Times called The Breaking Point. The story was a comprehensive look at where he thought oil production/prices were headed – and what the implications might be. Maass focused on Saudi Arabia in the article, and spent a lot of time covering Matt Simmons’ viewpoints. It was after reading this story that… Continue»

By Robert Rapier on Sep 21, 2009 with no responses

About That $72 Billion Subsidy

I am going to be pretty busy for the next few days, and probably won’t be able to put anything new up until at least mid-week. Until then, over the past few days there have been a lot of headlines about a recently released study from the Environmental Law Institute. The study concluded that over the past seven years, fossil fuels have benefited from some $72 billion in subsidies. Their headline was innocent enough:U.S. Tax Breaks Subsidize Foreign Oil Production (Washington, DC) — The largest U.S subsidies to fossil fuels are attributed to tax breaks that aid foreign oil production, according to research to be released on Friday by the Environmental Law Institute in partnership with the Woodrow Wilson International… Continue»