[OFB Cafe] Bio Fuels

[Chris Olson]

From: Timothy Butler 
Sent: Monday, July 21, 2008 10:13 PM
To: An Open Discussion Forum on Just About Everything,Especially for Techies. 
Subject: Re: [OFB Cafe] Bio Fuels


> Are they telling? I've not seen much evidence to the fact

LOL!

Tim, Big Oil owns politicians and rulers in every industrialized country on earth.  It goes back to 1950 when the US State Department cooked up a scheme with Saudi Aramco and its member oil companies whereby the money Aramco and its member companies earn overseas are subject to non-taxation in the US under so-called "double taxation" laws (US oil companies, thru their contractors, "split" the "take" with countries like Saudi Arabia, Iraq, Venezuela - and thereby are exempt from tax and earnings reporting on foreign earnings).  This scheme then, and still today, allows US oil companies to pay less tax than any other industry in history.

You don't have a freaking clue what US oil companies really make because it's not all reported on SEC filings like is required for any other multinational company or industry.  Obama says he wants to close this tax loophole, but he'll never do it because Big Oil is WAY more powerful than any leader of any nation on earth.  The term "being over a barrel" takes on a new meaning when it comes to the control Big Oil has over the world economy and the political system.
--
Chris