Totally agree with your post.

Thanks for the response. I spent many moons in the same area - Silver Spring, Wheaton, Annapolis, working at the Washington Hospital Center. I so miss the local foods and the country, obviously the bay, the busy city life, and the relaxed state of the eastern shore... An ideal place to live...

Today is the first time I came across your comments. It was nice to see some educated responses, as opposed to the usual "ok's" etc. Each was well thought out, and I appreciated them. Maryland is a big state, whereabouts are you? Thanks...

GingoutMD in answer to your question, Now that they have killed it with the kill mud, they will now go and set mechanical and cement plugs. This well be drilled from a platform all the well control equipment is on the surface, not like the Horizon disaster where all the BOP were subsurface. (a)If the leak was caused by surface equipment such AS Blow out Preventers or valves, they can now change out or repair the equipment. (b) They can reenter the well bore and kick off above the leak. (c) Or as you surmised they will set more cement plugs, abandon the well and reenter the pay zone from another angle.

Write to GingoutMD's whiteboard

Thanks for the comment on the Shale Gas article! Very sensible and to the point! Keep em coming!

No problems!

Howdy! You asked , "So, the question I have is if the $6.7 billion in taxes is paid on only 25% of their operating earnings, then is the balance of their earnings (mentioned in the previous quote) tax free? If so, then 75% of their earnings are tax free."

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No those earnings are not tax free. The 75% earnings from outside the U.S. are taxed in those countries outside of the U.S.

Like you, I don't like ethanol either. Automotive engines in the US aren't built for it. I posted the article because it has good information in it about ethanol production, including the costs. However, I felt the need to address you statement about the government spending money. The amount mentioned is not an expenditure. It isn't even a loan. The governent puts up no money unless the company defaults on the loan. Can that happen? Yes, but it is far less likely to happen than a homeowner defaulting on their loan. In the unlikely event the company defaults on the loan, the amount the government pays would have been discounted by prior payments by the company and by liquidation of assets, the combination of which could cover most or all of the loan without government funds. Note that the company already has significant assets. I don't like spending government money on ethanol, but I wanted to set the record straight that this is not the straight-forward expenditure implied i

I posted another story about the evolving situation with Futures regulations that you might be interested in... http://www.newjerseygasprices.com/news/CFTC_s_Gensler_High_Commodity_Prices_Show_Need_for_Market_Oversight/36752_440270/index.aspx