Okay, I'm going to make this Philosopher's Stone Oil & Gas project idea refined down to two paragraphs.
PSOG is going to buy sweet, shallow gas properties from existing oil and gas corporations, produce the wells and then abandon them, farm out the same lands to other junior oil and gas companies to drill for other zones of interest on the properties, use about 60% of the revenue from production for OPEX, CAPEX, G&A & abandonment program, 30% for debt repayment and 10% for distribution to charities. Once debt is repaid, it will be 60% OPEX, CAPEX, G&A and 40% for distribution to charities.
Wow, did it in one paragraph.
The title of the blog today is a result of the challenges that keep popping up in front of us. This week I found out that we can't be deemed a charity for tax purposes, we can only be a public foundation. That might mean we can't give tax deductible receipts for a portion of the asset purchase price. Apparently the government doesn't want companies to be self sustaining charitable organizations. Therefor, we would have to beg for money from corporations and individuals to then distribute to other charities.
First of all, we're not interested in begging for money. That is exactly what we are adamantly against. The point of a self sustaining charity is to make money with dignity and not beg for it. What is the difference between some poor guy or gal on the street corner or an executive from United Way. I guess the executive is better educated and better dressed; the person on the street corner makes us feel more uncomfortable (for the blessings we have) by their appearance. I guess that's why the United Way makes millions and the corner person only makes enough for a meal and unfortunately some money that might be used for alcohol and/or drugs.
Second, we're not interested in begging for money. The point of self sustaining charities is to demand that municipal, provincial and federal governments quit giving away tax dollars. To prevent them from using that tax money where it best gets them votes. To prevent them from using that tax money to reward party supporters. Using that tax payor money to get a politician's picture taken with a big cheque, next to the successfully dressed executive beggar from the government recognized charity, standing next to the most pathetic, story book person they can find - in order to tug at your heart strings.
Just so you don't think I am a total hard ass, let me tell you a pathetic story. My oldest brother was mentally handicapped. When I was growing up, the world wasn't so politically correct. At that time; he was "retarded". Worse than that, "retard" was used as a negative and a put down. It would be the same disgusting put downs as "faggot" or "nigger" is used to put down those that are different or "less than" - by the cool or established persons of today's society. I always wanted to be cool, so I was embarrassed by my brother's disability. I never brought my friends home, I hid my brother from my world.
Joe was a courier in Calgary for 15 years, employed by an oil and gas company. The man who ran this oil and gas company treated Joe with respect and gave value to his life by providing a job. That job gave Joe a decent life with my parents. Gave Joe the opportunity to compete at the Special Olympics. Gave Joe the opportunity to go to Calgary Flames games and was befriended by that organization. When both my parents passed on, it was up to my second brother and I to look after Joe.
My second brother being the more responsible and compassionate of the two of us at the time, looked after Joe's finances and medical issues. I did very little other than lunches, dinners or the odd ride to some function. Joe had a nice life, good friends (both disabled and "normal") and went to work daily. Unfortunately it was time for Joe to retire. By this time my second brother had moved away and it was up to me to be more "responsible".
After returning from a work posting in South America, I now had more contact with Joe. I had grown up, become more understanding of his disability and more understanding of my failings as a brother. Just when I was able to embrace Joe into my life, he died of a heart attack. The people at his funeral were many, because he had touched the lives of many. This person with many challenges, this person called a "retard", this person I had been embarrassed to be seen with - in the end had lived a life of independence and achievement.
Now you may ask why this is a pathetic story. Joe's life wasn't pathetic. What was pathetic, was that I had lost out by having minimal contact with him. What was pathetic, was that I put others before my brother. What was pathetic, was that I was too soon to material wealth and too late to have compassion for the disabled and those less fortunate than myself. What is pathetic, is that I am now more embarrassed by not embracing my brother, than I was embarrassed by my brother when I was growing up. Now that is pathetic.
Wow, that took longer than two paragraphs.
Where was I ? Oh yeah, finally we're not interested in begging for money. We want to be self sustainable (like my brother Joe was). We want to make money to distribute to charities and touch others lives in a positive way (like my brother Joe did). And in the end, PSOG will be remembered not for having challenges, but meeting them with dignity and independence (like my brother Joe did).
I am incredulous, amazed and gobsmackedquo. That over $ 2 billion dollars may be spent on an election in 2012 in the USA and the main political point will be unnecessary and unsustainable spending by the government.
I am incredulous, amazed and gobsmacked that many billions of dollars have been raised for expensive oil and gas projects that have a 1 in 10 chance of being commercially viable. And yet no group is currently financing business models for the day when production revenues are close to zero and abandonment liabilities will be the responsibility of shuttered and bankrupt companies - some in other countries. Will our provincial governments outsource call centres for the debt collection of environmental liabilities. They have enough problems and expense collecting unpaid parking and traffic tickets - how successful will they be collecting millions for the orphan well project. Albertans may end up with an environmental sales tax. Why not let sustainable charities have the last share of production to clean up this mess and do some good for the communities that the operations are in.
I am incredulous, amazed and gobsmacked that more money is spent on inventing and developing methods of how to taser, kill, maim and destroy others; than is allowed for developing new and sustainable means of giving to those in need in our local communities.
I am incredulous, amazed and gobsmacked that PSOG is asked the question "why" rather than "why not" . so to paraphrase a line from John F. Kennedy "others may ask why, I ask why not". Philosopher's Stone Oil & Gas - quit asking why. Ask why not.
