posted on Apr, 27 2006 @ 07:48 PM
THE oil companies, have in the course of time
exacted consessions from the Fed. to count some costs
as accounting exempt, some internal payments to their execs.
as tax advantaged expenses...and all sorts of tom-foolery accounting...
it happens each & every year....
ITs just that now, with the size & scale of the cash flow,
the oil (cartel) corporations cannot hide their normally outrageous profits !
- which now have achieved the level of being regarded as obscene profits -
wake up & smell the coffee, as they say.
i think that 75% of all the oil used in the USA is extracted in US fields.
that means only 25% is bought/paid for from OPEC producers at the high rate of $60-75 in the recent Financial Quarters.
The US oil production is extracted at way less than the OPEC price
lets say $15. per barrel, but the arrangement the oil barrons have with the Fed & the Tax Man is that the oil profiteers sell that profitable $15.
pbbl oil to us US citizen consumers at the OPEC price of $60-75 pbbl...they keep the profits
and the margin is whisked away into the oil Execs pensions/annual compensation
and a pittance is deemed as exploratory $, alternate fuel promotion, or other tax-advantaged.............. (accounting tricks).
Just last week one CEO dude got $400,000,000.00 severance along with perks,
not because of an ethical job performance or anything like that...he got the huge
severance because he helped spearhead a batallion of lawyers that eventually befuddled the Fed & the taxing authority and kept alive the loopholes in
the oil production processes that will allow the obscene profits to continue to flow and trickle immediately into the pockets of the Elite
Execs at the Oil Corps. cartel.