Usual Suspects Part III

August 26, 2008

 

 

Big Oil

 

Otherwise known as Exxon Mobil, Royal Dutch Shell, British Petroleum, Chevron, Conoco Phillips, and Total SA. First of all let’s talk about the name. This of course is the name that the press or politicians use when they are complaining and moaning about the price of gas which has nothing to do oil companies.

Newsflash: Oil companies have to be big. The reason for this? They have to be big to create the enormous economies of scale that allows them to produce gasoline at the price that you and I buy it for. There is nothing wrong with being a big company, it simply lets BP pump, refine, ship, and sell crude at lot sizes of 100,000 barrels per.  If there was a mom and pop oil company it would sell oil at $50 a gallon for premium!

 

If certain politicians, environmentalists, and celebrities had their way laws and taxes would make being “big oil” unprofitable and drive them out of business.  When did selling a product that people want to buy for a profit become faux pa? I hear chatter on the news about levying additional taxes on the oil industry.

80,000,000,000! Yes thats right eighty billion, and that is Billion, with a B.

 That is what big oil made in profits in 2007. Excessive? Maybe. Should we tax them more? Of course not! They already paid 40,000,000,000 in taxes!

                                                                Net Income        Income Tax

ExxonMobil (XOM)                              40,610,000       29,864,000 

RDS                                                         No Income Statement

BP (BP)                                                   21,169,000       10,442,000

Chevron Corporation (CVX)                18,688,000        13,479,000

ConocoPhillips (COP)                         11,891,000        11,381,000

Total S.A. (TOT)                                   19,935,702        19,994,618

 

Totals                                                    81,714,702      41,817,618

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Back From VK

August 26, 2008

It has been a crazy month of August, that is for sure. I have moved, taken a vacation or two, and gotten a promotion.

Moving of course sucked, Vaction was great, but without internet, and getting paid more is always nice.

More to come

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Moving

August 5, 2008

           

           

            I will be moving this weekend, and I am actually looking foreword to it. You’re probably thinking that I am crazy, who actually wants to move? Well I usually don’t, but this time is a little different.

            First of all, I am moving to a very fun but very expensive part of town. It puts me in walking distance to tons of bars, restaurants, and entertainment. Second, it is right on a park and only five miles to work.

            Now moving to this area is very expensive, and I could live for much less somewhere else, or even buy something for the amount I am paying in rent. This is not the best personal finance decision that I have ever made. At the same time it is only for a year paying expensive rent, versus thirty years of expensive mortgage if I choose to purchase a place.

           

            Moving can be surprisingly cheap and easy if you plan ahead just a little.

 

                        1. Pack Ahead – This might seem like a no-brainier to most of you, but I have made the mistake of not doing it. See if you can’t get boxes from work for free.

                        2. Simplify – If you have not touched some of your belongings since the last time you moved drop it off in the trash, goodwill, or post it on Craig’s list.

                        2. Rent a Truck – They are pretty reasonable for what you get, don’t try to move in your SUV, or try to rent a small trailer. The trips back and forth will kill you. Also check into the rates, they are cheaper during the week and in the middle of the month.

                        3. Don’t buy/rent the extras – Handcarts, bungee cords, blankets, boxes, lifting straps etc. — in my experience they are all a waste and not really worth it.

                        4. Don’t use U-Haul – I have used them and they are a hot mess every Saturday. You will get there and wait an hour minimum, and you might not even have a truck reserved. I have gotten tucks with well over 200k miles on them.

                        5. Good help – Make sure you get a buddy or two to help. It is the equivalent of ‘going all the way’ among guys, but you will be literally screwed without them.

 

Other than that good luck

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Unions

August 1, 2008

           

            I came across this full page add in the USA today. I have never been a huge fan of unions and you can draw you own conclusions. But you must agree that it is a powerful and poignant image. It was published by an organization called Unionfacts. A union ‘watchdog’ and I assume a political action committee or non-profit organization.

Wow

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Posted by fubar1383