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Average Americans Display PHEV Spirit

Tuesday, August 5, 2008

Today is Good News Tuesday.  After weeks and weeks of political squabbling about our current energy crisis, regular Americans are showing why our country is great.  American ingenuity and work ethic will drive our nation toward alternative energy sources and the goal of US energy independence, regardless of how hard the politicians try to get in the way. 

The Spirit of DC is a Plug-in Hybrid Electric Vehicle that is currently travelling all around America.  Called PHEV3A (PHEV All Around America), the goal of their country-wide tour is to show the nation that plug-in hybrids and electric vehicles are truly practical and are possible now, we do not need to wait for new technology to be developed.   The converted 2005 Toyota Prius has a battery pack that was added to the rear of the vehicle, allowing it to be charged from a regular electrical outlet.  This allows the Prius to run on all-electric power for a greater percentage of time, resulting in 100+ MPG. 

Imagine what a fleet of PHEV’s getting 100+MPG would do to our dependence on foreign oil.  Urge your elected officials to support tax credits for PHEV ownership, and ask them to help encourage our auto companies to quickly bring new PHEV’s to market.   Ask them to spend some of the existing $35 Billion in taxes that ExxonMobile paid last quarter on supporting alternative energy sources.  Toyota and Honda currently lead the field in electric hybrids, and if our auto industry truly does not want to become irrelevant, they need to quickly bring more hybrids and PHEVs into production immediately.

If you think you might be a potential sponsor you can contact PHEV3A’s Co-Chairs, Joseph Lado, at the virtual PHEV3A operations Center (Poc) by emailing joelado@yahoo.comand “on the Road” PHEV3A driver “EVJerry” Asher at EVisionA2Z@usa.net.  You can keep up to date on their progress at their blog.

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ExxonMobil pays World Record $32 Billion in Taxes during Q2

Friday, August 1, 2008

Exxon Mobil Corporation (NYSE:XOM) released yesterday that they paid an astonishing $32 Billion in taxes during the second quarter of 2008.   Apparently the federal and state governments have made out like bandits, cashing in on the rising price of crude oil. 

These new taxes outstripped the oil giant’s tax bill in the first quarter of this year. Given current oil market conditions, analysts said, that puts Exxon Mobil on track to break the record $100 billion in taxes it paid last year.

Meanwhile, Presidential candidate Obama sought to show that he was responding to calls for action in the face of rising gasoline prices.  Campaign officials said later, however, that they didn’t know when or how the candidate would use his future authority to increase taxes further.  Various Congressional committees and individual lawmakers scrambled to offer no relief to the already heavily taxed company.

Newsmakers were quick to point out that the amount of taxes that ExxonMobil paid works out to $4,114 in taxes per second.  And, every American would have had to pay an extra $100 last quarter if ExxonMobil did not pay their fair share of taxes.   

Due to the high level of taxation, capital and exploration project spending only increased to $7 billion in the second quarter.  Given the heavy tax burden, the company stock price slumped another 2.7%, causing losses in millions of 401K owners portfolios.   Over $10 Billion in value was wiped out of stock investor’s holdings after this announcement.  Individual investors are calling for tighter regulations on Big Government, demanding new WindFall Tax protection.

EXXON MOBIL CORPORATION
  SECOND QUARTER 2008
  (millions of dollars, unless noted)
                   
      Second Quarter   First Half
      2008   2007   2008   2007
  Earnings / Earnings Per Share                
                   
  Total revenues and other income   138,072   98,350   254,926   185,573
  Total costs and other deductions   115,866   80,422   212,528   151,581
  Income before income taxes   22,206   17,928   42,398   33,992
  Income taxes   10,526   7,668   19,828   14,452
  Net income (U.S. GAAP)   11,680   10,260   22,570   19,540
                   
  Net income per common share (dollars)   2.25   1.85   4.30   3.49
                   
 

Net income per common share – assuming dilution (dollars)

   2.22   1.83   4.25   3.45
                   
  Other Financial Data                
                   
  Dividends on common stock                
  Total   2,098   1,961   3,977   3,786
  Per common share (dollars)   0.40   0.35   0.75   0.67
                   
  Millions of common shares outstanding                
  At June 30           5,194   5,546
  Average – assuming dilution   5,261   5,620   5,311   5,665
                   
  Shareholders’ equity at June 30           124,826   116,350
  Capital employed at June 30           136,749   126,520
                   
  Income taxes   10,526   7,668   19,828   14,452
  Sales-based taxes   9,538   7,810   17,970   15,094
  All other taxes   12,297   10,665   23,904   21,073
  Total taxes   32,361   26,143   61,702   50,619
             
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