May 26, 2010
The politics of oil dates back to 1859 when the first oil well was dug 69 feet and the thirst has been for deeper and deeper rigs even in the earth’s oceans. The profits and politics of oil are enormously gratifying for the oil companies however safety has been largely ignored to save money. The US has been lenient with oil company profits choosing in the past to tax oil companies less and less each year.
May 26, 2010 2:43 p.m., Operation Top Kill has begun and is underway to stop the oil leak. We will be updating as it progresses this afternoon.)
The gulf oil spill has 3 foreign corporations involved in the spill and they are Transocean (RIG) based in Switzerland, Haillburton (HAL) which is based in Dubai, and BP (BP plc) NYSE which is based in the UK. They are all considered foreign corporations but have major offices on US soil. The basic pattern for some oil companies is to evade US corporate taxes by moving their head office to a foreign country which is part of the politics of oil.
Halliburton has moved it’s offices to Dubai to evade US taxes even with Dick Cheney on the board of directors, Halliburton has received preference in Iraq rebuilding no bid contracts during the Bush administration.
Halliburton over billed the US government with hundreds of examples of over-billing for work the Iraq’s did before the war. The Halliburton sealing of oil drills was less than acceptable and their work was shoddy at best in Iraq. The Bush administration were responsible for lax regulations and promoted the politics of oil.
BP Oil along with Chevron in California have had an easy time with paying taxes on profits thanks to the 8 years of a Republican oil man in the Oval Office. Campaign contributions, oil lobbyist and influence peddling has done in the US political system and drove it into a hurricane of disasters.
The Massey coal mine explosion, BP Oil’s spill in Alaska, BP’s explosion in Texas, The Exxon Valdez and now the BP Oil spill in the Gulf of Mexico are just a few examples of leniency towards big oil. When will this campaign of tax favors, corrupt practices, ignoring safety and now when will this oil spill end?
Recently the Conservative Right members of the Supreme Court of the United States actually encouraged more political influence by allowing corporations to buy politicians with more campaign contributions -as much as they want to spend to buy favor.
The SCOTUS is re-writing laws and actually ignored the US constitution by making a corporation a human entity. The absurdity of this new ruling opens doors for big oil even more and foreign companies that wish to buy their way into US politics.
The right wing nuts are hard at work but visibly absent in their comments about BP oil destroying a gulf with greed, excesses and buying political favor with the US government. After all BP has a long track record of bribery and a lawsuit is still pending against BP Oil Corporation for influence peddling in Europe.
Transocean Ltd., dodged taxes by moving its headquarters to Switzerland in 2008 and pays only 16 percent corporate taxes but if its headquarters were in the United States they would pay 35 percent.
More News on Think Progress.
However there are only 12 Transocean employees in Switzerland and 1,300 are in Houston Texas therefore the majority of the company is in the USA but they pay no taxes on corporate profits. This loophole must change for this is a tax evasion ploy and the US revenue service should have the right to tax their profits due to the work the corporation does is based in the USA.
Chevron Pays No Extraction Taxes in California
Arnold Schwarzenegger who recently denounced oil drilling off of the coast of California, has received financial benefits from Chevron Oil to the tune of $250K in return for no extraction taxes on their profits. Arnold also received an additional $700,000 campaign contribution to his coffers from Chevron.
Chevron Perks in Richmond -Tax Corporations on the Ballot in November 2010 Election
In the city of Richmond a ballot initiative is planned to end the perks Chevron receives reduced tax benefits due to a 1983 tax cap approved by the Richmond City Council. Chevron is fighting any new taxes even though it is the second most profitable US corporate oil company. The new tax would be a 10 percent utility tax that all other Richmond businesses and residents pay each year and would be a drop in the bucket for Chevron.
Obama Too Hard on British Petroleum Oil
The Politics of Oil- is that Republicans have always been soft of big oil thanks to the Bush and Cheney connections to that industry. Also corporate profits are part of the Republican capitalist society policy that they so dearly love to promote in the media. ” The US is a capitalist society” they claim however most Americans now – do not agree.
The Politics of Oil
Tea Party Favorites- Big Oil
Where is the outrage by the Tea Party? There is none because they support big oil, they support dirty energy and they support Sarah Palin who screams “Drill Baby Drill. Palin’s history with British Petroleum (BP) goes back a long way in Alaska. Palin promoted “Drill Baby Drill” all through the 2008 Campaign for the Presidency, could you imagine that policy now?
Sarah Palin as misguided as she is has been on the wrong path to clean energy which is what most Americans embrace and the fact that we cannot keep our addiction to oil -its time for rehab. Palin has significant ties to the Alaska Pipeline which she claimed to have negotiated all by herself -which was not true. Sarah Palin’s husband Todd was also employed by British Petroleum for dozens of years and Palin has been a faithful wife to BP Oil.
The Tea Party candidate Rand Paul claimed that President Obama was “too hard” on BP Oil. Let us see how that translates to votes for him in the November election. Even Kentucky has is coal mining accidents with Alliance where the roofs caved in a mining tunnel killing employees. Rand Paul stands for big corporate profits and big business -no matter if it is in the wrong direction for cleaner energy policies. You would think Rand Paul would be promoting green energy but he is not.
The favoritism -the lobbying all has to stop now and President Obama has to clean house of executives in the EPA, the Energy Departments of government -off shore leasing offices, that have had too cozy a relationship with big oil. It is the end of financial benefits, perks, bribes, and campaign contributions and lower taxes on these corporations who’s greed has exceeded their duties and obligations to Americans. This corruption all ends now since the Gulf Oil Crisis will teach hard lessons for years to come this gulf will become a sewer and ample testimony to the corruption in government that caused the spill.
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