Exxon Sues Venezuela!!!!! :)

Re: Exxon Sues Venezuala!!!!! :)

RecklessTim said:
Thank you very much for your insight Evan....

Yet I find it funny how people will jump to all sorts of conclusions without ever having the facts...

That's one of the reasons I'm still up in the air... I still have a lot of edumacating meself before I can intelligently chat it up....

be patient... I'm still reading. :0
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Well, I am certainly no expert, but I do have some actual insight in to the way oil companies do what they do.

Personally, I don't feel a bit bad for Exxon, wether or not the claim they are making is accurate I would question. Frankly, if they did experience a loss due to foreign development, our own government needs to ask them why it wasn't claimed all these years, amongst the all time record profits they have tallied.

You are talking about a company that NETS....NETS 25-35 BILLION a quater.....With a B.

They are on a 40% tax base, this translates to 20+Billion a quater they pay in taxes, which is more than approx. 60% of the American tax-payers pay.

Those are huge numbers, so wouldn't someone think that if the did indeed experience a loss or losses of that magnitude, they would go to Uncle Sam and hit him up, being as loyal as Sam is to Big Oil?

It's a sham Tim, plain and simple, they know that they are going to lose what stake they do have and they have yet to make what was projected, and they will eventually hit the US taxpayer, you watch.

If we ever talk via. mind melding again, this is on of the many dirty secrets Big Oil has in the closet.
 
Re: Exxon Sues Venezuala!!!!! :)

BadBoy@TheWheel said:
They never had as big of a stake as others, but they did a common thing you will not read about anywhere.

It basically like playing craps and betting on the "Come Line", they put a small amount of money out there, use third party drillers and producers, reap the lease benefits they have, basically taking money both ways, back charging for leases they were sold, and charging the US for tax dollars for expenses. W

When the independent drillers/producers cannot handle the constant pressure of the K&R's that always take place, they bail, the originating company then bears the entire burden, and they pull this stunt, they go after the country they are in first, when it all falls down they will go after the US government for the losses and we of course will give it to them.

There is no real simple way of explaining it, it's borderline criminal to be quite honest.
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I was going to post the exact same thing. I see this every day working in the government.
 
Re: Exxon Sues Venezuala!!!!! :)

gLing said:
What are the exact numbers?
Who is doing all the work?
Do you honestly expect oil companies to develop the energy resources of third world nations for free?
Does any of those numbers factor in the benefit to the local economy?
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FREE??? Who mentioned free? Who in their right mind would even think as such? And why are you even bringing that up?
 
Re: Exxon Sues Venezuala!!!!! :)

BadBoy@TheWheel said:
Well, I am certainly no expert, but I do have some actual insight in to the way oil companies do what they do.

Personally, I don't feel a bit bad for Exxon, wether or not the claim they are making is accurate I would question. Frankly, if they did experience a loss due to foreign development, our own government needs to ask them why it wasn't claimed all these years, amongst the all time record profits they have tallied.

You are talking about a company that NETS....NETS 25-35 BILLION a quater.....With a B.

They are on a 40% tax base, this translates to 20+Billion a quater they pay in taxes, which is more than approx. 60% of the American tax-payers pay.

Those are huge numbers, so wouldn't someone think that if the did indeed experience a loss or losses of that magnitude, they would go to Uncle Sam and hit him up, being as loyal as Sam is to Big Oil?

It's a sham Tim, plain and simple, they know that they are going to lose what stake they do have and they have yet to make what was projected, and they will eventually hit the US taxpayer, you watch.

If we ever talk via. mind melding again, this is on of the many dirty secrets Big Oil has in the closet.
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Why am I not surprised by any of this? :mad

Oh and since I have been in a discussion about oil companies and really don't know what I'm talking about, do they really rape, pillage and destroy all of the energy resources of third world countries like jack booted invaders?
 
Re: Exxon Sues Venezuala!!!!! :)

gLing said:
Why am I not surprised by any of this? :mad

Oh and since I have been in a discussion about oil companies and really don't know what I'm talking about, do they really rape, pillage and destroy all of the energy resources of third world countries like jack booted invaders?
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Intruder? Is that you?

Seriously gLing, I don't respect people blowing my comments way out of context. You know exactly what I meant by it, so stop trying to discredit me by adding words I didn't say.
 
Re: Exxon Sues Venezuala!!!!! :)

gLing said:
Why am I not surprised by any of this? :mad

Oh and since I have been in a discussion about oil companies and really don't know what I'm talking about, do they really rape, pillage and destroy all of the energy resources of third world countries like jack booted invaders?
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Not in those exact terms they do not, what they do is take advantage of land that is not rightfully theirs, seldom without returning anything back to the rightful owners or citizens, when they bail out of the country, like Exxon has done and will do again, they will leave the mess for someone else to clean up, both environmentally and financially.

So they are pirates in a sense.
 
Re: Exxon Sues Venezuala!!!!! :)

BadBoy@TheWheel said:
Not in those exact terms they do not, what they do is take advantage of land that is not rightfully theirs, seldom without returning anything back to the rightful owners or citizens, when they bail out of the country, like Exxon has done and will do again, they will leave the mess for someone else to clean up, both environmentally and financially.

So they are pirates in a sense.
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That's terrible! Shouldn't be some kind of international law to prevent just that?
But then what if they are kicked out? Or just have everything seized by the host government? I thought that is what happened in Venezuela.
 
Re: Exxon Sues Venezuala!!!!! :)

gLing said:
That's terrible! Shouldn't be some kind of international law to prevent just that?
But then what if they are kicked out? Or just have everything seized by the host government? I thought that is what happened in Venezuela.
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How can I make this really simple, a company that generates roughly 200 billion dollars a year, profit never loses, even when they say they do, they don't.

They know what's at stake before they drill, and know that the US will back them.
 
Re: Exxon Sues Venezuala!!!!! :)

Pudding Time said:
Intruder? Is that you?

Seriously gLing, I don't respect people blowing my comments way out of context. You know exactly what I meant by it, so stop trying to discredit me by adding words I didn't say.
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I don't recall mentioning you in that post and besides there isn't much I could say that would take your claim of oil companies raping the oil reserves they develop for third world nations out of context. :dunno
 
If I was Chavez, I would laugh at Exxon and tell them to go packing. Exxon's real problem is that Venezuela is refining and selling oil for itself.

Countries nationalize businesses all the time, its just one of those risks you have to accept. President Bush has been looking for a reason to place UN sanctions on Venezuela for a few years now. This might be his chance
 
Re: Exxon Sues Venezuala!!!!! :)

gLing said:
I don't recall mentioning you in that post and besides there isn't much I could say that would take your claim of oil companies raping the oil reserves they develop for third world nations out of context. :dunno
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wow... just wow..
 
FreeWorkVest said:
If I was Chavez, I would laugh at Exxon and tell them to go packing. Exxon's real problem is that Venezuela is refining and selling oil for itself.
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What are you talking about??? Venezuela can't extract and refine it's own oil!!! They are a third world country, they NEED Exxon to do it for them (at a very fair price)

Sheeeesh.... :smiley24:
 
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