Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT RATES :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: VAT Audit :: cpt :: form 3cd
 
 
« Sales Tax »
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller
 Service tax levy to weigh on upstream companies’ earnings
 5 pc tax on online sales awaits Cabinet approval
 Amendment to Additional Sales Tax Act unconstitutional: High Court
 Maharashtra will soon achieve Rs one lakh cr sales tax : CM Devendra Fadnavis
 CBEC chief bats for minimal exemptions for India Inc under GST
 Issuance of Free Sale & Commerce Certificate to Merchant Exporters
 Why model GST law does not give confidence to exporting community
 State governments tighten their grip on sales tax holidays
 Income tax dept charts plan to broaden national taxpayer base

China, India And The Price Of Gas
May, 31st 2008
Recently, I received two interesting mailings. The first was the annual report from Exxon. During the early 1970s, I was an employee at their gas pump manufacturing facility in Greensboro, N.C.

Exxons financial report, at first glance, confirmed what our dedicated representatives in Congress have been telling us; that were being ripped off by Big Oil.

Exxon reported a whopping $40.6 billion profit proof enough for Congress to call for more hearings. Hearings in which they will again call for a surtax. A sur-tax that we, consumers, will pay for at the pumps. What they will not tell us is that Exxon made that profit on total sales of $390.3 billion (a 10.4 percent return) compared to profit margins for the drug companies of 20 to 25 percent. Also what they will not dwell on is that Exxon paid $72.7 billion in taxes almost twice as much as its profit.

The second mailing was just as illuminating. It was the May issue of National Geographic, featuring excellent articles on China, home to 1.3 billion people, and soon to be the leading economic power in the world.

A large two-page spread showed Chinas growth in the importation of crude oil. In a 10-year period (1996 to 2006) Chinas importation of oil grew from 166 million barrels to 1,065 million barrels, or six and a half times as much. By 2012, China is projected to surpass the United States in vehicles. Similar growth is projected in India with the second largest population.
So what does this mean? It means $6 to $9 a gallon in the near future. What can we do? The only answer is energy independence. Do we hear anything in Congress about that? Drill in Alaska? No. Drill in the Gulf of Mexico (along with the Cubans, Chinese and Venezuelans)? No. Congress will continue on in the same way, counting on the ignorance of the electorate to return them to office again and again. It works!
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions