Please share your thoughts on yesterdays hearing that blasted U.S. Oil Company profits. To say the least, I am not pleased with this very one sided and uninformed take on the U.S. energy situation.  I think, btw, that it is a difficult and very challenged business and should make some money.  Especially for re-investment!

I would also like to know how much energy companies HAVE invested in alternative energy research thus far.  Guessing it is a rather large number and I wouldn't be suprised if it eclipsed the investments made by purely alternative play companies....

Shell and BP seem to reinvest the most out of all the other big oil companies.  Time magazine has an article about a "clean energy scam."

The other big companies seem to average about 1% re-investment each in these renewable energy technologies.  meanwhile, I guess if you have it, buy more BP, Shell, and Exxon Stock.  Exxon seems to re-invest the least.  This is just at a glance thus far, ... more to come.

First Solar is a stock worth checking out. 

Oh well, face it folks, we need both renewable and non-renewable for now....and for a while for that matter.  We can't wait on Congress and the Pres to get it done on the non-renewables.  We've got to get that moving.  BTW, here's a good website re same: www.energyactioncoalition.org

I just got back from the Clinton Global Initiative University Conference a few weeks ago @ Tulane in New Orleans.  The panels are on the website and I recommend viewing the videos of the panels on climate change and renewable energy: www.cgiu.org

Soigne Toi,

Joshua W. Delano

Joshua@EnergyPeopleConnect.com

I don't know if anyone is still watching this thread, but this question is particularly interesting as the Merrill Lynch analyst announced today that he believes oil will go to $150 to $200 in the near future...meaning oil company profits could continue to skyrocket.

This is a complicated issue. From a purely capitalist standpoint, oil company profits should absolutely not be taxed more than they already are. It's important to remember that these company are still paying a heckuva lot of tax, and probably in the highest tax bracket. If the question is about adding another tax bracket for all businesses, then perhaps that can be considered in an overall tax system initiative. But to attack the oil companies specifically, simply because their profits have gone up due to an increase in the price of a market traded commodity, is unfair and counter to capitalist philosophy.

Of course, there are other arguments as well - that the oil companies need to be amassing capital to be able to either to fund new exploration and increasingly expensive production, or to invest in future energy sources. And that the price of oil may still retreat, erasing much of the current profits (unlikely at this point, but who knows!).

From a non-capitalist point of view, such as a "greater good" philosophy, it may seem tempting to Robin Hood these companies. After all, this is a crucial commodity that our entire society and economy relies on very heavily. In the interest of stabilizing the economy by sharing the profits with the federal government, perhaps some philosophies can argue that it is justifiable.

I agree, it is complex.  I think that O&G companies do quite a bit in terms of "greater good", but they do a horrible job of promoting these efforts for so many reasons, including setting a precedence.   Also, I really don't think there is such thing as "too profitable", but I am one of those 1980's products that tend to vasilate between Ayn Rand and the Dali Lama .

Right now, after enjoying an OTC with $115 b.Oil, Ms. Rand has my attention.   Yesterday, I met a very sharp guy from Columbia that said he had to valet park cars when he immigrated to this country, and because he focused on and eventually joined the industry, he has a fantastic lifestyle as a petroleum engineer.    Hello Atlas Shrugged!

I listened to several people saying that "the bottom won't fall out anytime soon."  I am not an economist, but in my 13 years in the industry, I have seen a couple of "mini busts" already.  While we aren't going back to $15 any time soon, I would be a bit cautious about tying tax revenue to such a cyclical industry....

Governments are already "Robin Hooding" energy companies.  For example, Exxon paid twice as much in taxes than it made in profit, so they are already "sharing the profits with the federal government”. 

Ignorant politicians need to exercise caution – if they get too greedy they will kill the goose that laid the golden egg.

BF