Thursday, October 30, 2008
Profits, profit margins, get the whole story
With 58% Jump in Profit, a Record Quarter for Exxon
As usual the NYT, like most of the rest of the media fail to put oil company profits in perspective.
The "record" was set with the highs in oil prices back in the summer. I want to know what the profit "margin" was. The numbers are impressive, but most Americans don't differentiate between "profit" and "profit margin" or the net earnings to revenue ratio.
That is the real telling figure. Microsoft averages 28-29%. Coke averages 18%. Most people think a 10% margin is acceptable. Historically, oil companies earn 7.5-8.5%, even during the recent "astronomical highs." Exxon's net margin is 9.21%. Coke 18%, Microsoft 28%, Exxon 9.2%. Who's really raping the consumer?
In this quarter they spent $7 billion on research and development, nearly $33 billion on taxes (that's before the Obama "windfall" profits taxes) and had earnings of $14.8 billion.
And those earnings are returned to the investors, i.e. pension funds, mutual funds, 401-K's, individual investors, institutional investors. If you have a retirements fund or mutual fund, you may very well be a beneficiary.
All I want to see is perspective in these articles but they are determined to demonize these companies without which our economy would come to a screeching halt. No energy to run it, no economy, no jobs, no home, no retirement, no food, clothes, goods etc.
Do they make a lot of money, Sure do! Is that bad? Let 'em go bust and see what happens. Do they earn excessive profits, not even.
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: capitalism, energy, Exxon, New York Times, oil, profit margin, profits, taxes, windfall profits
Saturday, August 02, 2008
Politics, power and pocketbooks...
It’s been a few days since posting. Lot’s of personal responsibilities clamoring for attention drew my attention away from the computer, but not the news. Still, in the coming days it will be a balancing act to write while continuing to take care of business at home.
Of interest is the today’s story on the draconian measures of House Democrats to shut down Republican efforts to pass legislation to deal with the current rise in prices digging into the pocketbook of American families.
The House leadership, without debate, passed a resolution Friday to adjourn that legislative body for the next five weeks. In doing so they effectively turned a deaf ear to the cries of Americans seeking relief from high gas prices.
Democrats are reticent to enact any legislation that brings relief to high oil prices, preferring to play on the American distrust of oil companies that has been perpetuated by their rhetoric and media misinformation.
After the adjournment, Republican held a protest on the House floor with Representative Thad McCotter (R-Michigan) proclaiming, “he believes part of the reason Congress is so hated by the American people is because they ‘care more about politics than about working people.’"
Rep. Mike Pence, R-Ind, declared, "Republicans will not go quietly. Let us demand that the president of the United States ... call a special session of this Congress on energy."
So what’s up this Democrat Congress? Why won’t they address the issue of high oil prices? I believe, like many others, it’s because they want oil and gas prices to remain high, at least through the November elections. What better tool to demonize Republicans than to paint them and the Bush administration with the false colors of complicity with “big oil.”
The ignorant voter base of the Democrats who will not educate themselves on the facts of the issues will blindly fall in line. Many other Americans who remain more interested in entertainment and celebrity than arming themselves with the facts will follow along.
Meanwhile, Barack Obama has flipped and now supports drilling offshore. That’s a 180-degree flop from his strongly held, immovable and principled position of only a few weeks ago. One would have to believe that his principles can be bought and the change we can believe in it the changing nature of Mr. Obama’s positions.
And the beat goes on. Meanwhile, while the American people struggle with high fuel prices, spiraling grocery prices and an economy that seems to be faltering, succumbing to the efforts of the Democrats and their media crony’s, Democrats and Republicans go on a spending spree.
The spending bill passed on Friday included 510 earmarks. These spending measures are stuffed into legislation, most going unnoticed until after the final vote. Most of the money spent goes to pet projects in the representatives’ district and much of it isn’t even requested or lobbied for by the recipients. Their primary purpose is to memorialize the representative or senator who lassos it.
Meanwhile, weighed down by the aforementioned increasing cost of living, American families are paying for the vanity of their representatives $17 Billion addiction. According to Citizens Against Government Waste, politicians spent $17.2 billion on 11,610 pork projects in 2008. It cost’s every American family $153.57. That’s more than a week’s worth of groceries for most families, money they could sorely use in their own budget yet Congress persists in pilfering the pockets of the public for their own pernicious practices.
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: Democrats, election, energy, food, fuel prices, Obama, oil, politics, Republicans
Thursday, July 17, 2008
Drill here, drill now...
American Solutions' Dave Ryan presented a petition with the signatures of 1.3 Million American voters today to the Republican Congressional leadership.
The petition demands Congress take action now to Drill Here, Drill Now and tap our American petroleum resources. This is too important an issue to stand-by and let Congress do nothing.
And they will do nothing if the voters don't act. Americans are now struggling under the burden of high petroleum prices brought on by legislators who have done nothing to prepare for this crisis since the last time oil prices shot up in the 1970's.
We do have a few leaders, statesmen, in Washington who will take the lead, but the majority party will continue to point fingers and blame all the way to the fall elections. All the while the American people will be the ones struggling under these high prices while our congressmen and senators drive around in luxury paid for by our tax dollars.
We need to tell them to act now, not out of politics but because as our representatives they are required to act in our, the voters interests. Not in the interests of the environmental cartels that have ruled the liberal agenda in Washington for so many decades.
If you have yet to sign the petition, do so. It's not too late to let your voice be heard.
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: crude oil, energy, fuel prices, oil, politics, Republicans
Thursday, June 26, 2008
Will new energy technology be defeated by old power?
Inventors: Solar Dish Could Revolutionize Energy Production
Just read this article on a new solar collector technology that is simple, inexpensive and efficient. American ingenuity is at work trying to find new, better ways of dealing with our energy needs.
Come on Washington, get out of the way and let the American people do what they do best, meet problems with innovative answers. We have some 300 million people in this nation and if turned loose, they can accomplish far more than 535 representatives in Washington who are so stricken with themselves they think only they have the answers.
Our leaders seemed to have forgotton that power corrupts, and truly, "Absolute power corrupts absolutely." Rarely attributed, the latter phrase is a quotation from Lord Acton, in a letter to Bishop Mandell Creighton, 1887.
That quote succinctly describes the political leadership in America 120 years later. And we the people will pay dearly for their corruption if we fail to take serious interest in and responsibility for our nation and return America to a Republic formed "for the people and by the people."
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: energy, politics, power, solar power, technology
Sunday, June 22, 2008
The charge of the light...uh...er...police!
CFLs, Compact Florescent Lights. One of the latest technologies in lighting is making a strong showing as the technology matures. I have a few around my home. In some ways I like them. Long life, low cost to use.
Though they are much more expensive, the 3-way I bought was about $9.75 compared to $2.85 for a comparable incandescent 3-way, the longer life and lower cost to operate make them a good buy in the long run.
Of course there are downsides. Due to their size, especially the base, not all lamp receptacles will accept them. I have one 3-way floor lamp that won't. To use a 3-way CFL in that location I'll have to buy a different lamp. But hey, it's good for the economy, isn't it?
They are also considered hazardous waste by the EPA and require special methods for cleanup and disposal, especially if broken. What about the long term "unintended" consequences. We Americans are good about that. Rush out to the latest, greatest, best thing, only to find out months or years later there's something terribly wrong with it.
But wait, these things are made in China, only China. Let's send more trade deficit to the nation that in 2007 brought us lead paint in children's toys, industrial chemical poison in pet foods, antifreeze in toothpaste and more.
OK, all that aside, now comes along Congress and they want to tell us we "MUST" stop buying incandescent bulbs and switch everything over to CFLs. Looks like the CFL manufacturers lobby made some campaign contributions.
I'm all for conservative use of energy. After all, I AM a conservative. But what I don't want is Congress telling me what I WILL do, especially in the privacy of my own home.
Liberals rail against those who have strong convictions on abortion and homosexuality. Their primary argument is no one should tell anyone what they should do in the privacy of their homes or even bedrooms.
But now this Liberal congress wants to invade the privacy of my home and mandate I use a technology that they dictate. Doesn't this smack of hypocrisy?
Just for the record, I don't want government telling me I have to wear a seat belt either. Should I wear one? Yes. Do I wear one? Of course. Do I wear it because the law requires it? Absolutely not!
I wear a seat belt because it's stupid not to. Years of tests and studies have proven seat belts save lives. Two weeks ago I came upon a rollover accident moments after it happened where both occupants were thrown 10's, perhaps 100's of feet because they had no seat belts.
In the same way, CFL's have benefits. But one thing they don't have the benefit of is years of research. Do we really know how they will perform and what dangers they may impose years down the road?
So to Congress, get out of my personal life, quit telling me what I should buy to light up my life. CFL's are OK and have many uses, but it's not up to Congress to tell me to use them.
But, wait a second. I have a thought on how we can use them and maybe clean up Congress at the same time. Rep. Poe mentioned something that may help. Lets all grab a few CFL's and toss them into Congress! According to the EPA, they will have to evacuate!
If we throw enough of 'em, maybe the cleanup will take so long they'll be out of session for several years and "we the people" will be able to take our country back from the career politicians and we can do something positive for this nation.
How 'bout it!
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: CFL, Compact Florescent Lights, conservatives, Democrats, energy, politics, power, technology
Wednesday, June 18, 2008
Curing cancer...and our energy problems
I've been "covered up" the past few days with work obligations making it difficult to even think about posting. Not that there's a lack of stuff to comment about.
One thing caught my attention though. As mentioned before, I listen to podcasts when I'm able to at work. I control what I listen to, it's stuff that interests me, I'm not at the whim of some radio station and it's more mentally engaging than just music.
On that note, I'll have to post a list of my favorite podcasts sometime. But that's for another time.
On my list of listening material is "Cranky Geeks," a tech podcast that discusses all things technology.
On a recent podcast there was mentioned just in passing an item about an inventor, John Kanzius, who has discovered a way to attack cancer with radiowaves. It's done by attaching minute metallic particles to the cancer cells and directing RF energy towards them, heating the metal and the cells, killing the cancer cells.
According to other researchers working in the next stage of the project, it holds great promise. The procedure has already been proven to work in animal subjects and the hope is to soon begin human trials. As it goes into further research and probably medical trials, Mr. Kanzius hopes he will be able to see the procedure used to help a cancer patient. Oh, he's a cancer patient himself, he has leukemia.
But I said the mention on the podcast was in passing. The panel pretty much panned the idea, questioning if it could be done and how would they get the metal particles to the cells. If you weren't paying attention you might have even missed the whole thing.
What really caught my attention though took place a few days later. A friend was over and she mentioned she had heard of a guy who had discovered a way to make fuel out of seawater. Huh! Like that's been the "holy grail" for years! Making fuel out of water? Wow!!
While she was here I did a search and low and behold I found the article. It was a CBS news item, but the focus of the item wasn't fuel from seawater, but killing cancer cells with RF waves.
It seems that in his RF/cancer research, Mr. Kanzius discovered that if he directed radio waves at seawater the chemical bonds of the seawater were weakened and the result was hydorgen. The same stuff others are wanting to use to make hydrogen fuel cells to power cars. Wow! Fuel from water!
To my knowledge, the energy angle to this has barely made a ripple in the news. The 5 and a half minute CBS broadcast of Mr. Kanzius' cancer discovery didn't mention it. It was the A/P print article along side that carried that part of the story.
Local Kentucky TV station, WKYC, produced a story on the energy angle that is heavily viewed on YouTube.
I'm just amazed that as big a story as energy has become in recent months, this discovery hasn't received more air time. But then, hydrogen isn't the "darling" of the environmental cartels. They are true believers in solar, wind, tidal. Anything that is even remotely linked to petroleum is anathama to them.
As I've mentioned before, to work our way out of this energy problem, we must employ all resources. We cannot depend on any single source. Hydrogen is a clean fuel. When it burns it gives off CO2 and H2O. That's Carbon DiOxide and Water. For a fuel that's as clean as it gets!
"We are all in the same boat on a stormy sea and
we owe each other a terrible loyalty." - G. K. Chesterson
Labels: cancer, energy, fuel prices, oil, power, technology