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OverviewOver the past 10 years, surging crude oil and petroleum product prices have increased oil and gas industry revenues and generated record profits, particularly for the top five major integrated companies (also known as the ""super-majors""): Exxon-Mobil, Royal Dutch Shell, BP, Chevron, and Conoco/Phillips. These companies, which reported a predominant share of those profits, generated more than $100 billion in profits on nearly $1.5 trillion of revenues in 2007. From 2003 to 2007, revenues increased by 51%; net income (profits) increased by 85%. Being largely price-driven, with no increase in output, and with little new production resulting from increased oil industry investment, many believe that a portion of the increased oil industry income over this period represents a windfall and unearned gain, i.e., income not earned by any additional effort on the part of the firms, but due primarily to record crude oil prices, which are set in the world oil marketplace. Numerous bills have been introduced in the Congress over this period to impose a windfall profits tax (WPT) on oil. This book discusses these options. Full Product DetailsAuthor: Maria B CoswellPublisher: Nova Science Publishers Inc Imprint: Nova Science Publishers Inc Weight: 0.384kg ISBN: 9781606928400ISBN 10: 1606928406 Pages: 120 Publication Date: 09 December 2009 Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: Awaiting stock  The supplier is currently out of stock of this item. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out for you. Table of ContentsPreface; The Crude Oil Windfall Profit Tax of the 1980s: Implications for Current Energy Policy; Oil Industry Financial Performance and the Windfall Profits Tax; Oil & Gas Tax Subsidies: Current Status & Analysis; The Use of Profit by the Five Major Oil Companies; Index.ReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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