The Gross US National Debt

My Take On Things

Things and events the way I see them.

Thursday, January 22, 2009

PRESIDENT BARACK OBAMA



My Congratulations to Barack Obama on becoming the 44th President of the United States.

Well done indeed.



George......... don't let the door hit your ass on the way out.

Thursday, January 08, 2009

GMS Photographic Website Updates


I have added 20 new pictures to my website in the following categories:
Animals: 1
B&W: 7
Candid: 3
Floral: 0
Landscape: 4
Street/Misc.: 5
Be sure and drop by when you have a few moments.

Thursday, July 31, 2008

World's Largest Publicly Traded Oil Firm Makes $11.68 Billion In The Quarter.


Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second

So, to reiterate, I bring forward part of one of my articles from July 2006. Enjoy.

Many Big Oil Government Subsidies currently on the books have been there for some time. Here are a few of them.
Firstly, there are the tax breaks at the Federal level which include the Percentage Depletion Allowance which runs from 784 Million to 1 Billion per year, as well as the Non Conventional Fuel Production Credit at 769 - 900 Million / Year, followed by immediate expensing of exploration and development costs at 200 - 255 Million / Year, then the Enhanced Oil Recovery Credit for 26.3 - 100 Million / Year, Foreign Tax Credits at 1.11 - 3.4 Billion / Year, Foreign income deferrals at 183 - 318 Million / Year, and finally Accelerated Depreciation Allowances of 1.0 - 4.5 Billion / Year. All that adds up to roughly 10 Billion / Year in Federal subsidies but they don't stop there.
Lets move down to the State level now. Most state income taxes are based on oil firms' deflated federal tax bills and results in an under taxation of 125 - 323 Million / Year. States also impose fuel taxes that are lower than regular sales taxes amounting to a subsidy of 4.8 Billion / Year to gasoline retailers. New rules under the Taxpayer Relief Act of 1997 provide a further subsidy 2.07 Billion / Year. In total, the annual tax breaks that support gasoline production and use amount to close to 18 Billion / Year.
Now lets discuss the Program subsidies that support the extraction, production, and use of petroleum which totals 38 - 114.6 Billion / Year. Beyond all the above, the government as well as tax payers subsidize a large portion of the protection services that are required by the petroleum producers. Foremost among these costs is the cost of military protection which adds another 55 - 96.3 Billion / Year to the subsidy extravaganza. All said and told we are talking about a couple of Hundred Billion a year bailout for the Oil Industry and this is while they are making record profits quarter after quarter.
Figures used for this commentary were supplied by The Progress Report - What Gas Really Costs Us.
The above numbers are Two years old and more than likely they have gone up, just like the profit.
So, it's no wonder that people get ticked when they pay high prices for gas at the pumps Right? Exactly. Shortage Schmortage. There is no oil problem lemmings, all the big boys got you worried with fear. Don’t let ‘em do it. Every single quarter Exxon puts out this ridiculous net profit number and it keeps going up and up and up. Do they care that your hurting at the pumps? Not a good god damn.

Criminals.

Tuesday, July 29, 2008

Be Sure And Visit My New Website






Just wanted to let everyone know that my new photography website is up and running. Be sure and drop by for a visit. I know you'll enjoy it.




Cheers

Sunday, June 08, 2008

Kubica Wins His First Race In Montreal




Congratulations are in order tonight for BMW Sauber as they finally took their long overdue maiden victory in Montreal on Sunday.

The BMW team is slowly becoming one of the next powerhouse teams and they have sent quite a clear message to the others, with Robert Kubica leading Nick Heidfeld home in a fabulous one-two on a day when early leader Lewis Hamilton slammed his McLaren into Kimi’s Ferrari while he was waiting for the pit exit light to go green.

Lewis was subsequently given a 10 place grid penalty for the next race at Magny-Cours in two weeks. That’s got to sting a little I would think.



All weekend long, the track surface was being torn to bits by the massive horsepower that today’s F1 cars put down, and it caused a lot of problems for all the drivers to say the least. Montreal had better get it together and re-surface the track or they will probably end up losing the race.

My drive of the day must go to Felipe Massa, who made some very very nice passing maneuvers throughout the race just to come home fifth. It was a pleasure to watch as we haven’t seen that kind of driving for a while.As a result of his first win, Kubica now leads the world championship fight with 42 points to Hamilton and Massa’s 38 and Raikkonen’s 35. Here’s hoping that BMW throw their full weight behind Kubica in his bid for the title.

See you in France on the 22nd.

Thursday, June 05, 2008

Hillary Should Have Left Along Time Ago


THE WISH:

She was the one ready to take that URGENT 3am call from day 1.

Her whole campaign, that was what she said.

She promised quick action to resolve problems.

THE REALITY:
Ready on day one?
She wasn't ready for losing on day one, or two, or three. Should we have expected anything different from a Clinton? Absolutely not.

This family is all about themselves, everybody else be damned.

She is attempting to use 18 million voters as a bargaining chip to further her political career so she can bask in some cushy job, possibly the VP slot.

I for one hope that she gets some lowly post in Alaska.

Be gone with you on the morrow wench.

Get outta Dodge.

Monday, April 28, 2008

Kimi Dominates In Spain






Ferrari's Kimi Raikkonen became the eighth consecutive man to win the Spanish Grand Prix from pole position, when he dominated Sunday's race at the Circuit de Catalunya.






The Finn shrugged off two safety car periods - the second when Heikki Kovalainen crashed his McLaren heavily after a front-end failure put him off the road in turn nine at an estimated 140 mph – all Heikki got for his mishap was a sore elbow and a slight concussion. A true testament to the safety of today’s modern race cars.

It may not have been a classic race, but Raikkonen's championship score is now 29 points and his lead is nine over Hamilton (20), while Massa jumps up to fourth with 18, one behind Kubica (19). Nico Rosberg was headed for seventh place until his Toyota engine broke, Fernando Alonslow was running fifth when his engine also blew up and the only reason he was so high on the grid for qualifying was because he was running on empty. This was done to increase the gate on Sunday, as it was Slacklonso’s home race.

Race Results:

1. Kimi Räikkönen Ferrari 66 Laps 1:38:19.0511
2. Felipe Massa Ferrari
3. Lewis Hamilton McLaren-Mercedes
4. Robert Kubica BMW Sauber
5. Mark Webber Red Bull-Renault
6. Jenson Button Honda

Next stop…….Istanbul, Turkey. May 9 – 11
Pre-race: Sunday Morning @ 7:30am. Race @ 8:00am on TSN

See you there.