Originally posted by SlickOil
reply to post by kiwifoot
It would be easy to not make a profit on the books so you didnt have to pay any taxes for 10 years. If you know you are going to loose all profits and your shareholders are clear on that as well then you can just invest tons in R&D, buy other companies that have a future but have huge losses, etc..
Originally posted by saabster5
Back to OP, the problem with fining the company, is where exactly would the fine go? Would it be all put towards cleanup? Would it be put towards environmental safeguards for the future? This is sticky situation because BP will still want to make a profit margin, and while UK pays approximately $10/gal for petrol, will they see a further increase for fuel prices?
This is my biggest concern with corporations. They are too ambiguous to fine. They have too much influence on such a large scale. A fine of $1 billion dollars will be passed on to the consumers, while the company still pulls in huge profits in its quarterly reporting. Wages for employees will drop, while executives will see continued or rising wage increases. Cutting corners pays on the executive level.
Originally posted by endisnighe
Well, since the socialists have shown what they want to happen, use this as an excuse to nationalize the oil industry, that should be an indicator of just what is going on in our economy.
Might want to ask yourself, who exactly was behind the economy's downfall. Was it the greedy capitalists or the socialists in our government? Might open some people's eyes, others.......not so much. Or, they might just think it was worth destroying everyone's savings, for the good of the collective!
Now, everyone here has certainly glossed over the news that BP has stated they will pay any and all people that will be hurt by this.
I wonder how if the federal government is going to send BP a bill for 300 Billion to BP. I guess this will be the sign that the socialists in our government have the people's interest involved or their own.
Keep an eye on the left hand while the right hand is waving.