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**wentscat** · 05-21-2011, 04:18 PM

6% of what? I assume this number is worldwide? So it includes companies that don't pay US taxes? Or have any revenue in the US?.

Here you go:

So the industry doesn't need these tax breaks. Fair enough.

In reality I and many other tax payers and corporations don't NEED the write offs either, but we are entitled to them so we take them.

Who is getting rich off of this?
Compared with a small fraction of oil stocks (about 1.5%) owned by corporate management, the vast majority of such investments are held by average Americans, primarily via retirement accounts. Independent research shows that 14% of industry shares are in IRAs and a full 30% held in mutual funds.

Another 27% of oil stocks are in public pension funds. Oil Company Earnings: Reality Over Rhetoric Page 2 of 3 - Forbes.com

Those evil mutual fund investors. How dare they.

05-21-2011, 04:18 PM	#6
wentscat Join Date Oct 2005 Posts 471 Senior Member	6% of what? I assume this number is worldwide? So it includes companies that don't pay US taxes? Or have any revenue in the US?. Here you go: So the industry doesn't need these tax breaks. Fair enough. In reality I and many other tax payers and corporations don't NEED the write offs either, but we are entitled to them so we take them. Who is getting rich off of this? Compared with a small fraction of oil stocks (about 1.5%) owned by corporate management, the vast majority of such investments are held by average Americans, primarily via retirement accounts. Independent research shows that 14% of industry shares are in IRAs and a full 30% held in mutual funds. Another 27% of oil stocks are in public pension funds. Oil Company Earnings: Reality Over Rhetoric Page 2 of 3 - Forbes.com Those evil mutual fund investors. How dare they.
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