Union Pension funds own 27% of Big Oil.

[brandon47]

Did anyone know this?
What kind of effect would taxing big oil's windfall profits have on union pensions and IRAs?

[Gman]

1. Where do you get this?

this is too much to just make a statement with no link or other supporting info.

[brandon47]

2. it is a year old but here is a pie chart of ownership

<img src=""/>

[Gman]

3. just post the address to the image without the html

http://... etc.

[brandon47]

4. im sorry im not very good with links and pictures

Try pasting this into your browser.


also check here
http://www.energytomorrow.org/energy_issues/shapiro.html

[Gman]

8. and the study sited at energytomorrow.com

http://www.energytomorrow.org/media_center/Shapiro_Pham_Study.pdf

makes no mention of unions or labor.

[Cerridwen]

5. 1. Your source is dubious. The site's tagline is "chasing liberals

like villagers after Frankenstein" It appears to be a site dedicated to extremely "conservative" views.

2. The image you link says "pension funds" and does not specify union pension funds. I'll look around to see why you chose (or one of the site's bloggers chose) the "union" tag on that particular "statistic".

I'll reserve any further judgment until I do more googling.

I'll also see if I can get the image link to work...for other readers who may think what you state as "fact" may be questionable...at best.

[brandon47]

6. well

I heard the fact from a coworker and then I googled it and found the stat from many sources.
I only used that site because it had a pretty pie chart. I didn't even read their articles.

[Cerridwen]

9. Obviously. As there is no mention of *unions* in the article to which you

linked. The article itself mentions millions of Americans who through their investments, retirement plans, pensions, IRAs, etc. "own" stock in the "oil industry." The only "union" mentioned on that page is the "American Conservative Union"; hardly a "union" of working-class, for working-class, by working-class people.

[brandon47]

7. also

im not defending big oil im just concerned about what affect increased taxation would have on people who have ownership of these companies in their retirements account.

[Gman]

10. We understand

but we're trying to establish whether or not that is an issue.

If there is an increase in taxation, obviously it would affect the bottom lines of the oil companies. But there are still too many variables to really decide. For example, would they lower the dividend rates? How much?, etc... I think that at the very worst, the price would not climb at as fast a rate but would definitely hold it's value.

[Cerridwen]

11. Then why the "swipe" at unions? Why defend what I didn't accuse?

At no point did I, or anyone in this thread as I've read it, accuse you of defending big oil. A couple of us did, however, wonder how you got from pensions, investments, etc. to unions.

I suggest that the "fact" that "your friend" mentioned to you is an attempt to paint unions as hypocrites. It's a very old and very tired rw maneuver.

[seabeyond]

12. my brother is taking home about 750-800 a day working oil.

my husband who has a masters looked at his check and has been sick about it for a while now.

oh.... and brother is a fox news watchin repug, and on contract labor, and doesnt pay taxes. he is the first to btch about welfare queens and his money going to hedonistic public schools as he homeschools his child with bob jones and tells me it is not too religious.

on edit: i misread op. sorry all. still..... brother making lots from big oil. lol