China swoops up 80% of Iraq's Oil

Historic

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Zebras too Petros...I always new they were extra special. When I see a list like this I just want to raise a stink about how much oil is used for gas. When the oil runs out it isn't about the gas for cars and planes...it is about all the little perks of daily living we take for granted.

What's the status of Hemp laws?

Sorry about about getting side tracked again on taxes. I think it keeps happening because it is always about government profit and we all know where that comes from.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Cars can run on a lot of things.

Methane is the cheapest and easiest.

You could poop in a bucket all week and drive to the beach on poop power come the weekend, or commute all week.

I'd go to the beach.
 

Historic

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Did anybody really want the US to push for the oil in Iraq instead of pushing for local alternatives? War aside....I am under the impression that what the US did for Iraq was guarantee that it was strong enough to simply not lose itself in the negotiations of selling that oil...since we all know how industry overwhelms weak governments to walk away with all the profit. The US didn't need the oil but it needed a strong friend in the middle east and all those divided small factions that are fighting for ruling power over there had no idea how to handle the foreign interest in their oil in today's dwindling reserves world. Iraq would of been annihilated by and raped by anyone stronger than it to get at it. Especially considering the Sharia financing laws most of the middle east is subject too.

I did voice my opinion on why I thought the US isn't buying oil from Iraq as opposed to China.


Not gonna happen. Every refinery brings in oil from whatever source happens to be cheapest at the moment, every refinery sells oil to wherever it happens to get the best price at the moment. There's no such thing as "American oil" or "Canadian oil" or "Iraqi oil." There is a world supply of oil. It funnels into various refineries, and is distributed out as petroleum products.

This post by Tec says it the best though....

You could poop in a bucket all week and drive to the beach on poop power come the weekend, or commute all week.


All I need is cucumbers and a skateboard....
 

petros

The Central Scrutinizer
Nov 21, 2008
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Not gonna happen. Every refinery brings in oil from whatever source happens to be cheapest at the moment, every refinery sells oil to wherever it happens to get the best price at the moment. There's no such thing as "American oil" or "Canadian oil" or "Iraqi oil." There is a world supply of oil. It funnels into various refineries, and is distributed out as petroleum products.

This post by Tec says it the best though....
No it doesn't. It's a completely spaced out statement.

A partial list of the world's many grades and types of crude oil includes:
Abu Bukhoosh
Al Shaheen
Alaska North Slope
Alba
Algerian Condensate
Amna
Anasuria
Arab Extra Light
Arab Heavy
Arab Light
Arab Medium
Arab Super Light Ardjuna
Arun Condensate
Asgard
Attaka
Azadegan
Azeri Light
Bach Ho
Bachaquero
Bakken
Balder
Basrah Light
BCF 17
Belayim Blend
Belida
Benchamas
Beryl
Bintulu Condensate
Bonny Light
Bontang Condensate
Boscan
Bouri
Bow River
Brass River
Brega
Brent Blend
Brunei Light
Cabinda
Calypso
Canadon Seco
Cano Limon
Captain
Ceiba
Cerro Negro
Champion
Cinta
Cold Lake Blend
Cossack
Cusiana
Daqing
Djeno
Doba Blend
Draugen
Dubai
Dukhan
Dulang
Duri
Eagle Ford
Ekofisk
Es Sider
Escalante
Escravos
Fife
Flotta
Foinaven
Forcados
Foroozan Blend
Forties
Frade
Fulmar
Furrial
Galeota Mix
Gippsland
Girassol
Glitne
Gryphon
Gullfaks
Handil Mix
Hanze
Harding
Heidrun
Hibernia
Hidra
Hoops Blend
Isthmus
Jasmine
Jotun
Khafji
Kirkuk
Kittiwake
Kole
Kuito
KumKol
Kutubu Blend
Kuwait
Labuan
Laminaria
Lavan Blend
Light Louisiana Sweet
Liuhua
Liverpool Bay
MacCulloch
Mandji
Maureen

Marib
Marlim
Mars Blend
Masila
Maya
Medanito
Minas
Miri
Mixed Blend Sweet
Murban
N'kossa
Nang Nuang
Nanhai Light
Napo
Nemba
Niobrara
NFC II
Nile Blend
Njord
Norne
NW Shelf Condensate
Olmeca
Oman
Oriente
Oseberg
Oso Condensate
Palanca Blend
Panyu
Pennington
Pierce
Plutonio
Poseidon Streams
Qatar Marine
Qua Iboe
Rabi
Rincon
Ross
Saharan Blend
Sakhalin II
Sarir
Schiehallion
Senipah
Seria Light Export
Shengli
Siberian Light
Siri
Sirri
Sirtica
Sleipner Condensate
Snorre
Souedieh
South Arne
Statfjord
Suez Blend
Syncrude Sweet Blend
Syrian Light
Tapis
Tempa Rossa
Tengiz
Terra Nova
Thamama Condensate
Tia Juana Heavy
Tia Juana Light
Triton
Troll
Turkmen Blend
Umm Shaif
Upper Zakum
Urals
Varg
Vasconia
Wafra
West Texas Intermediate (WTI)
Western Canada Select
Widuri
Wytch Farm
Xikomba
Yoho
Zafiro
Zakum
Zarzaitine
Zuata Sweet
Zueitina
 

Walter

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Jan 28, 2007
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No, the U.S. has one of the highest corporate tax rates in the world. The rate is not what corporations pay.

Here's an example. Let us say you have an annual income of 100,000. You have your choice of paying a 40% tax rate with 50,000 in deductions, or a 25% tax rate with no deductions.

Which would you prefer?
None are so blind as those who will not see. Over $78 Billion (gotta read the whole article not just the headline), from one oil company, in taxes in one year paid to Obama.

Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com

From the lefty CNN no less.
 

Walter

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Jan 28, 2007
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Why are tyou talking taxes in an Iraq oil thread?
Just goin with the flow cuz the lefties take the tangent that all oil is bad, especially Merican oil companies and that they should be taxed out of existence.
 

Historic

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Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes.

The company's effective income tax rate was a hefty 47%, its highest in three years.


So if its income tax rate was 47% how much did it actually pay in income tax? Zero according to the IRS. Got to love deductions and competing complicated tax structures from other countries.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Just goin with the flow cuz the lefties take the tangent that all oil is bad, especially Merican oil companies and that they should be taxed out of existence.
Maybe whiners should spend domestically? Funny thing is, Govt of Canada owns massive chunks of these evil corporations all in the name of the whiners.

Have you ever looked at the CPP investments?
 

Historic

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There was reason to worry perhaps about Iraq and its oil...see how easy it is to do business and not pay the local government? Most of any income tax Exxon paid would of been in other countries I am sure.
 

petros

The Central Scrutinizer
Nov 21, 2008
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? Most of any income tax Exxon paid would of been in other countries I am sure.

U.S. federal: -$156 million

U.S. state and local: $110 million

International: $15.2 billion

Out of the $15B paid internationally, how much went to "starving" African nations?

TV says it cost two bits to feed somebody a meal. Exxon has created public money for 60 Billion meals.
 

Historic

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CPP a bad example of what should of been a good long term investment. All funds that are exposed to resource development reach a peak and decline.

Unless of course we were to look to gold...but then no one knows if the world reserves will actually ever meet the current demand. Likely as not...
 

petros

The Central Scrutinizer
Nov 21, 2008
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CPP a bad example of what should of been a good long term investment. All funds that are exposed to resource development reach a peak and decline.
CPP is only invested in resources?

No netflix, potato chips and beer?

Noooooo.

Resource investment is a quadruple bonus.

Share earnings, royalties, leases and taxes not to mention jobs and more income taxes from labour.
 

Historic

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To not pay what we expected to get...referring to Exxon again...the citizens of the US rely on the tax dollars collected and if companies like Exxon are able to justify shirking the payment of the income tax the US public was depending on so it could pay that money to a different country (likely due to lighter controls) or to a different tax column allowing that money to be spent elsewhere within the government budget...too complicated.

The relation of this to Iraq for me, is that once again was the government there strong enough to do such high tec complicated business with the international world? I would have to say probably not after the backlash of removing the Shaw...western antipathy climbed to an all time high after that and Muslim financial law is hard to reconcile with western financial law. Be it tax structures or profit margins. I do not think that the Iraq war did what it was supposed to do and I will never agree that it was the right thing to do. But, I have no answer either as to what I might of thought was the right thing to do.

No, I didn't mean to infer that I thought CPP was only invested in resource earnings but it is too heavily exposed IMO. That will destabilize its value in the long run and the current volatility today in resource pricing leaves it exposed to yearly dips and dives that do not outweigh the climbs most times.
 

Historic

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Oh sorry wrong country....I was thinking of Hussein and Iran and got mixed up.

I was thinking of when Hussein invaded Iran after the Shaw over the oil. I don't know how I got it so mixed up...trying to focus on too many threads at once.

But trying to meld a conversation about Iraq/china and its oil, taxes and corporations all at once is too much.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Oh sorry wrong country....I was thinking of Hussein and Iran and got mixed up.

I was thinking of when Hussein invaded Iran after the Shaw over the oil. I don't know how I got it so mixed up...trying to focus on too many threads at once.

But trying to meld a conversation about Iraq/china and its oil, taxes and corporations all at once is too much.
Are you sure it was over oil and not Sunni Vs Sh*te pimped by Wahabi thing?
 

Historic

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Really all I think is that the US presence in Iraq had more to do with stabilizing the local government so they could do business with the world. Not the right way but...