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Exxon concerned with 'lack of urgency' on taxes

Posted: March 1, 2012 - 9:06pm

JUNEAU — One of the North Slope’s biggest oil producers said Thursday that a Senate committee seems to be dragging its feet on making meaningful tax changes and warned production will keep declining if lawmakers don’t act.

In a letter to the Senate Resources Committee, the Alaska production manager for Exxon Mobil Production Co. said the committee’s current bill doesn’t go far enough in improving an unfair tax structure, and that his company is concerned by “the apparent lack of urgency in the committee in making meaningful tax reform to attract new investments.”

“Simply put, Alaska’s total government take is too high to fully develop its vast resources,” Dale Pittman said. “Without meaningful tax reform, Alaska should expect to continue at or likely below the Department of Revenue production forecasts.”

The forecasts show a 4.7 percent decline in production this year and a 3.3 percent decline next fiscal year. The estimates take into account any projects under consideration or development. The Revenue Department estimates a 9.1 percent decline this year among just the currently producing fields.

Committee co-chair Joe Paskvan, in response to Pittman’s letter, said all the committee members are in tune with the issue of making a meaningful change, but he also understands that the definition of meaningful “is across a spectrum.”

The committee has been taking testimony this week on its work-in-progress bill, which would cut oil production taxes but not to the extent that Gov. Sean Parnell’s plan would. Nearly 20 possible amendments have been offered, but they haven’t been acted on yet.

About 140 Alaskans testified over two evenings of public testimony, and committee members have each received “dozens” of emails on the subject, Paskvan said. 

A “meaningful” change doesn’t necessarily come down to a single number or rate, Paskvan said. For example, he said the current plan — which is narrow in scope — has what he considers meaningful changes for the legacy fields. But he said the committee is also focused on incremental and high-cost incremental development, and finding ways to encourage that.

Under the current tax structure, known as Alaska’s Clear and Equitable Share, or ACES, a 25 percent base tax rate and a progressive surcharge are triggered when a company’s production tax value hits $30 a barrel. The industry has said that the surcharge eats too deeply into profits at times of high oil prices and discourages new projects and new drilling.  

Parnell said his proposal sets the bar in the oil debate, noting that companies have pledged at least $5 billion in new investment if it were enacted. Asked if he’d be willing to meet the Senate halfway — his bill has been a nonstarter there — he said he’s open to any ideas capable of inducing that kind of response from companies.

The stated goal of both sides is to get more oil into the trans-Alaska pipeline. 

Senate leaders have said they hope to build consensus around addressing progressivity, then move on to other aspects of the tax structure, like credits and the state’s system of taxing oil and gas production together. The first step in moving forward is getting support within the bipartisan majority caucus on a new committee bill. 

Pittman’s response to the Senate plan is typical of that from the industry, which has rallied behind Parnell’s plan as a first step toward the broader changes it would like. 

Officials from the North Slope’s other major players, BP PLC and ConocoPhillips, told the committee Thursday that its current plan would have minimal impact on the current investment climate. 

Scott Jepsen, vice president of external affairs for ConocoPhillips, said he isn’t wedded to the governor’s plan but would want to see something that had an equal impact.

Critics have called Parnell’s proposal a corporate giveaway, with no guarantees the companies will invest more. Parnell countered Thursday, during a news conference, that if lawmakers don’t cut taxes enough to change North Slope investment behavior, they’ll effectively be giving away money to companies and getting nothing in return.

Pittman said that while some of the possible amendments would help reduce taxes and offer new production incentives, others would raise taxes. He said he fails to understand how that would help the current situation.

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kksalm
243
Points
kksalm 03/02/12 - 10:56 am
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Does anyone else see the hypocrisy in this headline?

Exxon is concerned about a "lack of urgency"?
I think the people of Alaska must have the same concerns about the history of Exxon's track record involving the Valdez oil spill. A colossal example of lack of urgency if there ever was one. How many years and at what diminished price of accountability was it anyway?
That corporation really has the nerve to make such a statement here in Alaska of all places.

spwright
1376
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spwright 03/02/12 - 03:15 pm
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$4.43 per Gallon 3/2/12

Give Exxon a Break ! They really need these Tax Breaks from Alaskans.
Exxon is the $Richest$ International Corporation in the World making literately $Billions$ In Huge Profits each & every Quarter. We Alaskans should be Paying even more than
$4.43 per Gallon for Gasoline so Exxon can make ever More Profits. Can't Ya Feel Their Pain ? Poor Exxon I really feel Sorry for Them.

Well now that your Blood Pressure is about to explode after reading that statement, I'll sign off. Think SPRING !

SPW "Airborne"

kenai_kid
222
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kenai_kid 03/02/12 - 04:42 pm
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spw

It is true we are paying a higher price than what we're used to. However, EXXON, BP, Conoco Phillips, Shell and the many other oil companies don't set the price of oil. The futures and commodities markets set those lofty prices.
As for tax breaks, Alaska is currently the highest cost to profit oil producing state in the US. This is partially due to geography and partially due to an uncertain state revenue climate. The tax structure of the state as related to the oil companies changes often and continually goes up.
The pipeline is currently barely 1/3 full and as it falls further, there will be more engineering challenges to face to keep the TAPS safe and economically feasible. Something needs to be done to stimulate investment.
North Dakota is attracting more and more of our workforce and resources because they have more money to invest in their field. Currently, North Dakota has a production tax of 5%, 6.5% and 2% depending on well conditions and productivity. Cost of production is geographically and economically more sound and there is far more known oil to be harvested.
State Royalty's are considerably lower than Alaska's and support a similar population (about 690,000 people) and the state carries a median personal income tax rate of 1.92%.
If we don't make our oil fields more appealing for investment, we will lose those dollars to easier oil and a more investment friendly atmosphere.

Sources:
http://www.business.nd.gov/businessInformation/operating-costs/tax-expenses/individual-income-tax-rates/

http://www.nd.gov/tax/misc/faq/oilgas/index.html

http://www.nd.gov/tax/misc/faq/oilgas/index.html#Question1

kenai_kid
222
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kenai_kid 03/02/12 - 05:17 pm
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EROI

I apologize in advance for the cut and paste. I have attached the link for the full article:

"Energy Return on Investment (EROI) also known as ERoEI (Energy Returned on Energy Invested), is a common way of expressing the efficiency of the energy production process. The EROI for oil and gas, as well as other fossil fuels, has been falling for decades. If it was a financial stock, you would have sold it years ago.

The Ouroboros

It is important to track EROI. Producing a barrel of oil consumes more and more energy, thus exponentially accelerating the consumption of the oil. It is like the mythic Ouroboros - a snake eating its own tail."

Prudhoe and the out lying fields are Alaska's Ouroboros. They are costing nearly as much energy as they are producing.

source:
http://8020vision.com/2011/10/17/energy-return-on-investment-eroi-for-u-s-oil-and-gas-discovery-and-production/

denali8
8
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denali8 03/03/12 - 02:26 am
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very well stated kenai_kid

very well stated kenai_kid

spwright
1376
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spwright 03/03/12 - 08:53 am
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Saudi Oil Sheik & Exxon

Kenai-Kid, Well perhaps I have some sort of Social Disorder cuz just the mention of the words EXXON & B P makes my blood pressure rise. I then have visions of a Saudi Oil Sheik boarding his personal 747 & the People of Saudi Arabia paying . 91 Cents per Gallon of Gas. & the Saudi Royal Family Laughing All the Way to the Bank.
Then memories of the Exxon Valdez Oil Spill flood back into my brain.
I just can't seem to help myself, just the word Exxon [filtered word] me off.
So Kenai-Kid You keep on singing the praises of the World's Largest Corporation & kiss their feet. I Ain't Buying It.

Now rant & rave about all of the Good Things Exxon has done for Alaska.

SPW "Airborne"

Norseman
3616
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Norseman 03/03/12 - 12:29 pm
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joke

lack of urgency.....

Strongarming our goverment with veiled threats, paying off corrupt legislatures, voting in for Governor an EX BIG OIL LOBBYIST, and want their huge tax breaks immeditely.

I for one am sick of reading about the richest corporation in the history of mankind using every tactic in the book to screw Alaskans.

They have the gall to use the term "lack of urgency?" Just remember the Exxon Valdez disaster. They strung that out for 20..count them TWENTY YEARS before they finally paid up. That was after they sued to reduce the amount by a huge margin.

NO MORE GIVEAWAYS AND BAILOUTS. This is one of the richest corporations in the world and we are suppossed to kowtow to them so they can continue breaking record quarter profits???!!!

That oil in the ground belongs to Alaskans. If one company feels that it is just to difficult for them to make huge profits, then adios. I can gaurantee you another oil company will come in and be tickled to have the opportunity.

kksalm
243
Points
kksalm 03/03/12 - 02:04 pm
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$41.1 billion profit in 2011

Comes out to over $4.6 million an hour.
A copy and paste of my own

ExxonMobil had the largest profits of the Big Five oil companies in 2011, raking in $41.1 billion for the year. This 35 percent jump from last year is driven in large part by record-high oil prices. Today, the oil giant announced its fourth quarter profits of $9.4 billion, a 2 percent increase since 2010. Here are a few other facts about ExxonMobil:
– Exxon’s $41.1 billion in 2011 profit translates into nearly $5 million in profit every hour, or more than $1,300 every second. The annual profit comes near the record revenues of $46.23 billion in 2008.
– Stock buybacks for Q4 were $5.4 billion, and $21.60 billion for the year, equivalent to 53 percent of total 2011 profit. This enriches executives, the board of directors, and largest shareholders.
– Exxon pays a lower tax rate than the average American. Between 2008-2010, Exxon Mobil registered an average 17.6 percent federal effective corporate tax rate, while the average American paid a higher rate of 20.4 percent.
– The company paid no taxes to the U.S. federal government in 2009, despite 45.2 billion record profits. It paid $15 billion in taxes, but none in federal income tax.
– The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States.
– Exxon is sitting on $11 billion cash on hand as of September 30.
– Exxon spent nearly $13 million on lobbying expenditures in 2011. The company gave nearly another $900,000 in federal campaign contributions. 92 percent of contributions went to Republicans.
– Exxon CEO Rex Tillerson made $29 million in 2010 (according to the latest records): He made $2.2 million in salary, a $3.4 million bonus, and stock awards valued at $15.5 million.
– Exxon is drawing out a legal battle for damages on a spill from 22 years ago. Exxon hasn’t paid $92 million in cleanup for the devastating Valdez Alaskan oil spill. In its Sept. 30 court filing, Exxon argued the damages it agreed to pay only covers “restoration” and not additional “clean-up.”
– Far from a job creator, ExxonMobil — together with Chevron, Shell, and BP — reduced their U.S. workforce by 11,200 employees between 2005 and 2010.

Have a nice day

spwright
1376
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spwright 03/03/12 - 03:13 pm
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Pleasant Facts

Sat. 3/3/12
Why kksalm ! How dare You to publish Facts about EXXON.
That is a Social Taboo here in Alaska. Kenai-Kid will be up-set with You.
I did enjoy reading that info. Thanks for sharing that.
Looks like I'm not the only one with this Social Disorder vs EXXON.

SPW "Airborne"
THINK SPRING !

kenai_kid
222
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kenai_kid 03/03/12 - 03:20 pm
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Facts vs Emotion

It seems people here are basing opinion based on emotion rather than fact. SPW, I'm not sure about your "social disorder" but I am fairly certain you have a reading disorder. Could you point out where I am "singing the praises of the World's Largest Corporation & kiss their feet." By the way, EXXON is not the worlds largest corporation and has not been for three years. That would be Walmart. You know??? The people that sell us cheap goods from China and Taiwan and have reduced tariffs (taxes) to promote "free trade." To be fare on this topic, of the top 10 corporations in the world, oil companies are six of them. Two companies are American (EXXON#3 and Chevron #10) Two are European (BP #4 and Shell #2) and two are ... C H I N E S E ! ! ! (Sinopec Group#5 and Chinese National Petroleum #6)

The oil in the ground IS Alaska's, but it behooves them to have these corporations extract the oil from the ground for a fee. Will someone come in behind them should they decide Alaska is to expensive to operate in? Possibly! Will they be able to handle the cost of an EXXON Valdez should it occur again? Maybe. Will they be able to repair and maintain an aging infrastruture? That would be doubtful at the current rate of return.

One only needs to look three weeks in the past to see what happens when a smaller player steps in. Less than two thousand feet into a new well a Spanish company suffered a gas blowout that went uncontrolled for days. Would that Spanish company been able to afford a major clean up in the arctic? Could they pay the federal and state fines and still survive?

Now, SPW you are right! Here are my rant and raves about what EXXON, BP and Conoco Phillips have done for Alaska. Since 1968, these three companies have combined donations, grants and charitable contributions in excess of $15 billion. That is above and beyond tax and royalties. Aside from the initial $1 billion in lease sales (nearly $6 billion in todays dollars) there have been additional lease sales totaling $3.5 billion. There has been no income tax on the residents of Alaska since first oil from Prudhoe Bay and billions and billions of dollars paid in royalty and taxes by the oil companies. In fiscal 2008 Alaska's share of North Slope Oil was $11.2 billion (49.1%) Federal Government recieved 18.2% and the oil companies take was 32.4%. Then the taxes went up! The greed here is shared by not only the oil companies, but the residents of Alaska as well. Not only do we not want to pay for our road maintenance, our emergency services or other aspects of our government, we depend on a resource that is in a state of diminishing returns to pay our way. And then we have the We say "it's our oil" but what does that mean? If it's "our oil" why "give" them any of it? Why are we giving the Federal government nearly 20% of OUR OIL! Do we want to develop our own oil? That would be against our free market beliefs. We would be no better than Venezuella, Mexico or Saudi Arabia. We would be competing with free market economics.

Now which of you two (SPW or Norseman) have any knowledge of the oil or energy industry? Which of you two have been to the slope and can explain to me the costs associated with producing a barrel of oil. We are in concurrence that the oil companies must pay a fair share. However, we must allow them to stay competitive in in an increasingly competitive market or we will shoot ourselves in the proverbial foot. Simply do your research and look at tax and royalty structure throughout the oil producing states and see how competitive Alaska is or is not.

sources:
http://www.revenue.state.ak.us/acloserlook.pdf
http://www.akrdc.org/issues/oilgas/overview.html
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html
http://money.cnn.com/magazines/fortune/global500/2011/full_list/

kenai_kid
222
Points
kenai_kid 03/04/12 - 10:07 pm
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THANK YOU

kksalm, I am so glad someone on here is finally dealing in facts instead of outright blather and "social taboo" such as SPW uses. However, not to say I don't trust you, but it sure would be nice if you listed your sources for easy verification. Contrary to what SPW believes, I am always opened to healthy, spirited and respectful debate in order to become a better informed and more objective person.
Now, to address your facts one at a time:

"ExxonMobil had the largest profits of the Big Five oil companies in 2011, raking in $41.1 billion for the year"
Of the $41 billion, how much was generated as a direct result of Alaska production? Walmart made considerably more than that on a reduced tariff but you still shop there don't you? Walmart probably made less than 50% of their total gross sales as a result of Alaska! Using the $41 billion in relation to how much the North Slope makes EXXON is ludicrous.

" Exxon pays a lower tax rate than the average American. Between 2008-2010, Exxon Mobil registered an average 17.6 percent federal effective corporate tax rate, while the average American paid a higher rate of 20.4 percent."
I agree on that point on a federal level! They and many more corporations need to pay more of their share in taxes. However, I also believe personal income tax rates should go up as well. Not to the peak levels of the past. 92% personal income tax for the top personal wage earners was a bit much. Since I could hear your jaw drop, here is the reference point for that particular tax rate and year: It's on page 60 of the following link:
http://www.taxfoundation.org/taxdata/show/151.html
The year was 1952.

Stock buy backs: Yup, the make the fat cats fatter and it also enriches the investor ... which ironically YOU and SPW are one! (WHOA I just felt SPW's systolic blood pressure top out!). You see, Alaska is a rather LARGE investor in EXXON stock in it's Permanent Fund portfolio (about 2 million shares). Every share that is bought back by the corporation makes our shares more valuable and increases our sacred PFD checks.
sources:
http://seekingalpha.com/article/288574-global-ideas-from-alaska-s-sovereign-wealth-fund
http://www.apfc.org/_amiReportsArchive/2011Insert.pdf

"The company paid no taxes to the U.S. federal government in 2009" This is somewhat misleading. They may or may not have paid corporate income tax, they did however pay oil sevrence and royalty tax on North Slope oil production.

"Exxon is sitting on $11 billion cash on hand as of September 30." This is fantastic for the investors. They are able to bank money for future projects that will actually provide a decent return. Good for them! If we had other American Companies that could perform as well, we wouldn't need to bail them out at every turn!

"Exxon CEO Rex Tillerson made $29 million in 2010 (according to the latest records): He made $2.2 million in salary, a $3.4 million bonus, and stock awards valued at $15.5 million." Again, I agree! The compensation package is agreed to by the board of directors which is elected by the investors of which ... well ... you know ... we had 2 million votes.

"Far from a job creator, ExxonMobil — together with Chevron, Shell, and BP — reduced their U.S. workforce by 11,200 employees between 2005 and 2010."
DUH!!! It's called a recession! Name a company of this size that increased jobs! Maybe you haven't heard, but the entire US economy has contracted since 2005. Currently there are an estimated 9 million unemployed. AT&T, GM, Apple, AIG, Microsoft and even Walmart have all reduced their workforces. In 2010, employers initiated 7,247 extended mass layoff events that resulted in the separation of nearly 1.3 million workers. source http://www.bls.gov/ers/

The courts ... what can I say??? Indefensible! On this point, they should have their day in court and leave the chips fall where they may. However, on the issue of spills and the environment ... if you use oil in any form, you too are culpable just as I am. I demand the gas at the pump so I can drive my truck, take my boat fishing, go snow machining, fly a plane, take a trip! If we want fewer spills, use less oil! We are no longer a producer nation, we are a consumer nation. The manufacturing countries of China, India and Indonesia are in competition for out oil so they can supply Walmart with cheap [filtered word] to sell the dupes in the west.

Again, thanks for the facts, however, for ease of verification of those facts, I would appreciate your resources, just as I have done for you.

kksalm
243
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kksalm 03/04/12 - 12:03 am
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For ease of verification?

My facts were found on the Wide World Web, aka the Internet, so good luck with honorable verification. There's always bias reporting but your addressing the points somewhat verified the facts.
I do get your message nonetheless and in the future will provide the source as common courtesy. I should have done that.
I admire your rise to the occasion and would certainly welcome your ability to assist me in a debate should I have an impossible quandary to resolve. However, your admission of "The courts..... what can I say???", in regards to Exxon's regard to their negligent Valdez oil spill really says it all. Which was my point. Can anyone else see the hypocrisy in this headline?
Have a nice day.

kenai_kid
222
Points
kenai_kid 03/04/12 - 09:50 pm
1
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Fact Checking

kksalm, again, thank you for defending your position with facts rather than emotion. To often on these blogs have posters who simply post to make a socially illiterate non statement. What is most intriguing is that we live in the information age. We have an endless highway of education and very few use it. Thank you for taking advantage of it to provide logical and spirited debate.
I would like to suggest a book for you, only because I think you may read it! The book is called "Unspun finding facts in a world of dis-information." It's a short read of roughly 180 pages, but gives you good perspective on how to find a close semblance to the truth. The most fascinating thing I took from this short paperback is that people will cling to their beliefs more tenaciously in the face of overwhelming evidence that reveals their position is incorrect or invalid, that people will short-circuit their own brains and readily accept as fact that which conforms to their own beliefs, and that we must learn to question bias, sources, evidence, and our cynicism before parting with our money or accepting information as knowledge or fact. Here is a review link for your viewing: http://www.amazon.com/unSpun-Finding-Facts-World-Disinformation/product-reviews/1400065666

Now, another question I have about your post concerning Exxon; You said they have $11 billion cash on hand. I may be wrong, but you typed that as if it were a bad thing. Truthfully I am just trying to clarify your position. If you are saying we should not re-tool the oil tax code because they have a ton of cash that they're just sitting on, could the argument not be had that we need to re-tool it because we are sitting on nearly $40 billion? I didn't think so either. That $40B is there for when things aren't so good and our wealth is on the decline ... for tougher times! That is exactly what good and solvent businesses do! Even in my business, when things are good, I invest some back into things with a likely positive return, I save some and ... well ... I spend some on frivolous "wants." Like, I want a vacation ... I want a snowmachine etc. That's just good business sense and they shouldn't be faulted for it. Should they have used some of it to pay the judgement against them? Yes, I believe so!

On the Federal taxes you mentioned... Wells Fargo, AT&T, GE, Apple, Microsoft, AIG, and a host of others from the Fortune 500 pay 0% income tax as well. Is it right? Absolutely not! It is however, one of several points argued by the OWS movement. That and campaign reform. Our "civil servants" are not representing "we the people" but instead, they represent the PAC's and corporations that placed them in office. Our system has some faults that need repaired. The question is, are we as a free people willing to make the sacrifices necessary to fix them? To start, are we willing to not only VOTE, but make an INFORMED vote? SPW feels everyone should vote. I am not of that mind. To many people make an ill informed vote and play roulette with out political system by simply becoming one of the "sheeple" They follow whoever talks the talk andputs their spin on the issues. We need to take the time to get as much factual information on the candidates and the issues as possible. Are we willing to hold our representatives accountable? I'm not so sure! Our answer to accountability is term limits and that is not a logical answer ... in my opinion. If a Senator has only two or three terms to do his job, he may do all of the political favors that are in his interest and is not at all accountable in his/her final term. An informed electorate acts as "term limits." My argument for an informed electorate? Two words ... Don Young! Nuff said!

Jerry
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Jerry 03/05/12 - 09:23 am
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Do any of ya want to know

Do any of ya want to know what i think or what Gods word says about oil & Big Business/Govt.?
Or how Big Business/Govt. would someday control every one & every thing thru economics/commerce?

It is good to see ya'll fighting about this expressing of opinions over what happening to cause the prices of oil to skyrockey, not really, it just proves that we all have differant opinions.
As i said before Alaska's North slope has more oil & gas than we could ever use up, it's just that the oil companies want less cost to ALLOW it to flow down OUR pipe line.

I bet if we gave Exxon their way on the North slope that OUR pipeline would be full & never have a bit of reduction in that flow to Valdez.

Thats called GREED for more money and as the word of God says, the LOVE of money is the root of all evil, which is not a good thing for the many, just a few, as in Big Business/Govt.

Make no mistake folks this SUPPOSED oil shortage is ment for only one thing and thats the further decline of Americas economy, as well as World wide economies.
Higher gas & oil prices cause EVERYTHINGS cost to skyrocket, and makes any hope of recovery null & void. Economic recover is not gonna happen due to these gas prices, PERIOD.
Now tell me that the simplest knowledge of economics, which i have, does not also tell all of you this very thing as well.

kenai_kid
222
Points
kenai_kid 03/05/12 - 10:42 am
0
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I need to know!

Jerry, where did you obtain the "facts" concerning North Slope Oil? And the book "Non Energy Crisis" from the chaplain Lindsey Williams that worked on the slope in the 70's and 80's doesn't really count as an "authority." The Gull Island "secret oil" that has actually never been a secret is in a tight formation and efforts to extract it have been attempted.

Grant it, there is approximately 2 billion barrels recoverable in place in Prudhoe Bay. And there is an additional 3 billion barrels in place, but it is difficult if not impossible to recover economically. Two factors make this "hard" oil. #1 the formation it is in is very tight and it does not give up the oil easily. #2 viscosity! This oil is extremely viscus and hard to extract. The nearly 50tcf of gas is a given and currently a non factor ... not even in Alaska as the 3 tcf that was tapped last year will be sufficient to supply south central for a decade or more depending on industrial needs.

Oil other than Prudhoe and the surrounding developed fields, there are several smaller pools of oil and of course ANWR and NPR-A. Those two fields combined have an estimated 4-18 b/bbls (as of yet undetermined by delineation). If you divide the higher number (18b/bbls) by 10 million (oil consumed in the US daily) and then divide that number by 365 (days in a year) you have less than a five year supply (4.94). In addition, if you wanted to use these fields as a singular source of oil for the United States, it would still be technically impossible with todays TAPS. At maximum flow, the Trans Alaska Pipeline only is capable of just over 2 million barrels a day. Far short of the 10 million we consume every day.

Finally, I am not "fighting" with anyone, just as you don't have "anger issues" (although your reference to spirited debate and discussion as "fighting" does lend credence to the claim). As I have stated in previous posts, my purpose here is not to prove anyone right or wrong, but to use the facts, both supplied and received, to form a logical opinion.

Sources:
NPR-A http://pubs.usgs.gov/of/2011/1103/ofr2011-1103.pdf
ANWR- http://pubs.usgs.gov/fs/fs-0028-01/fs-0028-01.htm

kenai_kid
222
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kenai_kid 03/05/12 - 10:52 am
0
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Jerry

By the way ... thank your son for all of us and please tell him "WELCOME HOME!"

Jerry
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Jerry 03/05/12 - 12:51 pm
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kenai_kid, I just sent off an

kenai_kid, I just sent off an email to my son to see if i can get a responce to his where abouts. The last i heard from him was all of his unit was gone, but they had a special task for him to be involved in before he could come home.

I know of a few other kenai boys that are home on forced leave and almost all news reports that i get from outside news says its coming soon, unlike Americas wannabe news.
Its an any day now before a war is set in motion in the middle east, and with Israel Prez. & Prime minister just now leaving America after the AIPIC meeting over Iran, it could happen any time.

I never read the book non energy crisis, i am mearly going by what friends of mine over the last 35 yrs have said about all the oil wells thats already drilled & capped up on the slope. They said back in the early 70's that the Big oil will not allow it to flow until its at a premium price & at maximum profits.
That price use to be $100 a barrel, things have gone up since then though.

I do have a hunch that if Alaska would reduce the Taxes on OUR oil, for the Big Business to make more monies, then it would flow non stop.
It is just driving Exxon & other Big oil crazy that they are not making Big Bucks with no wammies from OUR oil, i would bet & the news about Exxon not understanding what the hold up is shows this.

As i have said before when i read the news headlines & all the Worlds economic troubles with the forced sanctions on people & nations for them to fall in line & join the World governing body with the loss of all soverign rights, or else, we see alot of or else happening.

I also see exactly what Gods word says will be the case for the Last days to end this age, era of time we are now in and it says that a OWO is coming & will sanction everyone that does not belong to its Union.

Make no mistake i appreciate your info, but i also take it with a grain of salt which makes me wonder if its the truth or just a bunch of BS to make us all feel tingly & think that they really care about all the peoples of the world, when i know they could care less & only want the Big Bucks with No Wammies.

And your correct, i don't have anger issues, i only want to help wake people up to whats really happening as many are Sheeple just moving along with no idea of whats real or true pertaining to Life & eternity until it's to late to prepare.

God loves his creation and wants to save it, Satan hate Gods creation & wants to destroy it, thus the Spiritual war we are involved in will rage on until Jesus stops it all and sets up his OWO of rightiousness & justice for all that belong to his Kingdom.
It's either Satans kingdom or Gods kingdom, period.

Have a GR8 day & don't forget to vote tomorrow that is if ya can do so in the GOP thingy.

kenai_kid
222
Points
kenai_kid 03/05/12 - 02:26 pm
0
0
Syria/Iran

"President Barack Obama on Monday warned of "difficult months" ahead in the tense standoff over Iran's nuclear program, but promised visiting Israeli Prime Minister Benjamin Netanyahu "rock solid" support from the United States ... Netanyahu, as he has in the past, also reiterated that Israel 'must reserve the right" to strike Iran—with or without a green light from Washington.'

http://news.yahoo.com/blogs/ticket/obama-appearing-netanyahu-sees-difficult-months-ahead-iran-181331509.html

"The United States should lead an international effort to protect key population centers in Syria, especially in the north, through airstrikes on Assad's forces," McCain, the top Republican on the Senate Armed Services Committee, said in a speech on the Senate floor.

http://news.yahoo.com/blogs/ticket/mccain-calls-u-led-airstrikes-syria-203424110.html

HOLY BEANS AND RICE! GAS PRICES WILL SEE $7 by summer!

kenai_kid
222
Points
kenai_kid 03/05/12 - 03:38 pm
0
0
HOLY BEANS AND RICE ! ! !

This sort of reminds me of October 1962. Except this time we're playing with a whole region of nut cases!

"senior Obama administration officials are convinced an Israeli strike on Iran's nuclear program would 'cause a conflagration' in the Middle East."

conflagration [ˌkɒnfləˈgreɪʃən]
n
a large destructive fire
[from Latin conflagrātiō, from conflagrāre to be burnt up, from com- (intensive) + flagrāre to burn; related to Latin fulgur lightning]
conflagrative adj

"It was also reported US intelligence officials believe Israeli leaders have already decided to attack Iran, barring significant change in Iran's nuclear posture in the coming weeks or months."

http://www.israelnationalnews.com/News/News.aspx/153469#.T1VZohwnG6s

Jerry
0
Points
Jerry 03/05/12 - 08:46 pm
0
1
Isn't that special? I

Isn't that special, Obama talking and doing nothing again? I personally could care less what Obama says, and refuse to even watch or listen when he starts his endless line of BS, thats just me.
I think Israel has the same opinion of Obama and his promises of backing Israel, and that is to back them all the way to a possible wipe out of Israel if they depend on this choosen one.
I have a tee shirt that pretty much says it the real way it is, "Don't worry America, Israel is behind you."
Israel will not attack Iran, they can't fly there & make it back to Israel with out crashing their jets in the desert for lack of fuel.
If Israel attacks Iran its gonna be because the Arab airstrips or American ships allows them to land & refuel some where on their way back.
Now if ya was to say that Israel will attack Syria due to a death wish from Assad by attacking Israel, then i would agree with ya, as i think Isaiah 17; is whats next with Damascus being nuked & never inhabited again.
If i was a gambler, i would say that the Choosen one, Obama, might attack Iran & possibly Syria, with Israel helping to get Russia into the fray of things for one purpose only.
That purpose is to kill millions of people & bring forth the 12th Imam, muslim Mahdi, Messiah after the war, its the same plan that Irans Prez. Imadamnutjob has along with millions of other muslims, And it for a One World Ruler to come forth.

And about that distructive fire thing, look at Zechariah 14:12-13, it talks about the plague that will come on ALL nations that try to control the land of Israel, Jerusalem & the Jewish people.
It says that those that try to control Gods choosen things will stand and watch as the judgement comes on them and their skin will melt off their bones, their eyes will melt in their sockets, their tongues will also rot in their mouths, and a GR8 panic will over take all of them(allies against Israel)& they will turn on & kill each other.
That sounds like some sort of conflagration to me, as in nukes, does it not? I wonder how God knew about nukes 2500 yrs ago??

watching and looking up as i type & buying rice & beans as well. Titus 2:13

spwright
1376
Points
spwright 03/06/12 - 09:26 am
0
0
In-Flight Refueling

Jerry, Tue 3/6/12 Most Important of All, Have You made contact with YOUR SON ?

All Military Aircraft can now use In-Flight Refueling & literately Fly around the World IF necessary. Yes that is very dangerous but necessary. Those Fighter Aircraft literately Drink the Fuel with their AfterBurners.

Example : A USAF Stealth Bomber can take off from Whitman AFB in Missouri & then Fly all the way to Baghdad, Iraq then Return to Missouri without touching Mother Earth.

Yes All of Our Enemies get Nervous with even the mention of
Stealth Bombers.

Hope You hear from You SON soon ?

SPW "Airborne"

skaneshiro
45
Points
skaneshiro 03/06/12 - 12:15 pm
0
0
Somehow I don't trust Exxon.

Somehow I don't trust Exxon. Maybe it's because my fishermen friends got screwed by them and I lived in Kodiak when sheen and tar balls were floating past the ferry dock. They did a great PR job but didn't clean up much oil. And now we have experts telling us that we can lose out to cheaper locations to get oil. Well, have at it. They're not making more oil and it ain't gonna get cheaper so wherever it is they will have to come and get it and pay what they have to.
I don't trust Exxon. When taxes were lowered in the past it did not necessarily follow that production went up or more Alaskans got jobs. http://www.alaskadispatch.com/article/alaskas-current-oil-tax-works-alaskans-and-producers

kenai_kid
222
Points
kenai_kid 03/06/12 - 05:34 pm
0
0
skaneshiro

Very good point and a good article. However, it seems to argue only Holice French's side of the debate... which is logical as Senator French is the person who authored the ACES bill, Sarah Palin simply endorsed it.
The one constant and central point is production is falling and will soon fall below the engineering design of TAPS. Regardless of how it is done, or who does it, there needs to be a solution to boost production or at the very least, stop the decline.
Here is an op-ed from December that argues the other side of ACES and the tax issue.
http://www.adn.com/2011/12/10/2212663/high-taxes-cut-the-flow-of-alaskas.html
Before any other bloggers go off on a tangent about how I am championing for the oil companies, please don't make that judgement. I am seeking neither a middle ground or one side of the argument or the other. Discussion and debate with a fare and objective mind tends to find an opinion for me! The difficult aspect of this is removing emotion from the equation and using logic as your guide. Emotion tends to push logic from the formation of a sound opinion.

For those interested, here is the full text of House Bill 110.
http://www.makealaskacompetitive.com/wp-content/uploads/2011/02/HB0110A.pdf

It's only 16 pages long and is a pretty simplified tax code.

To allow equal space, here is the ACES tax.

http://www.tax.alaska.gov/programs/programs/forms/index.aspx?60652

I look forward to spirited and fruitful discussions on this very important piece of legislation.

Jerry
0
Points
Jerry 03/07/12 - 03:26 pm
0
0
spwright, I heard from my

spwright, I heard from my son, he is still in Afgan on special tasks and is going to KurdaSTAN or some STAN tomorrow for another task. He hopes to be back by the 12th, so still praying here.

Trouble is coming real soon in the M.E. anyday now, and with Russia electing Putin again & Putins warning that Russia will attack if Syria or Iran are attacked.
It does appear that Gods word about His putting the hook in the Jaw of Russia & dragging them out of the North to the Mountians of Israel for their destruction by God, all but 1/6th of the invaders will die is at an any moment thing.
Ezekiel 38;& 39; show this, as well as Isaiah 17; which shows that Damascus, Syria will vanish overnight from being a city someday, which has never happened.

I agree with ya, i trust Exxon & all other MONEYOPOLY oil firms as far as i can throw them, so thats not very much at all.
Its an all for us attitude by Big oil & non for you attitude.
As i said before if we lower the tax costs to Big oil, that pipe line from the north slope would be full non stop to Valdez.

Like James 5:1-6 says the Rich men have stored up Treasure for the Last Days & all of it will turn to rust & be eaten by moths & become no good & they will weep & moan for all their lost Treasures on earth, because they basicly put the screws to the little guys. Only things done for God will last for ever, where are your/our treasure stored up?

Well i got to get to church as its wed. night & we serve dinner to anyone that comes in on wed nights, i fixed Lazagna tonight. John 14:6

cheapersmokes
1201
Points
cheapersmokes 03/15/12 - 10:22 am
0
0
Oil Prices - fight back!

Their is a wonderful way for all of us to make as big of an income as we desire without having to spend a single cent doing so. This company is now in pre launch phase with the launch scheduled for the 9th of April. It already has over 3.3 million members in 180 countries. The beauty of the program is that they are going to pay the members 50% of their profits each month based on the number of people they have brought into the company! They are figuring on each one being worth a dollar a month and you will never have to sell or buy anything either. They have been working on the patent pending websites since 2007 and have invested over 2 million so far. Face Book, Yahoo and Google make billions each quarter and they must of forgotten to send me a check for helping them get it. If you don't take advantage of this opportunity then you deserve what life has given you!

Send me an email to cheapersmokes@yahoo.com for the link to sign up and you will not ever regret it. You can sponsor an unlimited number of people and will earn on all down to your fifth level each month!

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