For those of us optically challenged, I had to IMAGINE I could actually read what was sent out

Imagine a corporation committed to the benefit of the community.

Imagine a corporation that limits “executive” base compensation to 3 X the median family income of the community in which they work.

Imagine bonuses limited to 25% of base compensation to all employees (including “executives”).  Bonuses that are granted based solely on our contribution to the designated charities.

Imagine a corporation that will only compensate its employees with a “livable” wage, not the minimum.

Imagine that all types of employees; no matter race, creed, disability or sexual orientation can strive to learn, work and prosper in a corporation that is dedicated to something greater than ourselves.

Imagine leaving all that you are part of, in better condition than what it was found in.  The community, its people and its environment.

Imagine a corporation that fills a niche in an industry that will benefit other corporations in the industry, our government, our community and our charities (that are struggling for funds to do the good work that they do).

Imagine a corporation that is truly sustainable, that is more concerned with the next quarter century than the next fiscal quarter.

IMAGINE

Met with our attorney this week and we are preparing an application to the federal government for charitable status.  This application may need revisions before it is accepted and may lengthen the timing of “startup” closer to 8-12 months from this date.

Please comment on this idea and give whatever thoughts you may have.  Without your input, the idea that is Philosopher’s Stone is limited – the goal is to make this greater than ourselves.  Keep in mind that this must run as a business that makes money (it is not a charity for any one group).  It is our dream that this corporation makes lots of money and the goal is $10,000,000 to be distributed annually to our designated charities.  This won’t happen overnight – might take some time, might never happen.  But, that is the goal – we all need goals.

IMAGINE

Philosopher’s Stone Oil & Gas - IMAGINE

Imagine a corporation committed to the benefit of the community.

Imagine a corporation that limits “executive” base compensation to 3 X the median family income of the community in which they work.

Imagine bonuses limited to 25% of base compensation to all employees (including “executives”).  Bonuses that are granted based solely on our contribution to the designated charities.

Imagine a corporation that will only compensate its employees with a “livable” wage, not the minimum.

Imagine that all types of employees; no matter race, creed, disability or sexual orientation can strive to learn, work and prosper in a corporation that is dedicated to something greater than ourselves.

Imagine leaving all that you are part of, in better condition than what it was found in.  The community, its people and its environment.

Imagine a corporation that fills a niche in an industry that will benefit other corporations in the industry, our government, our community and our charities (that are struggling for funds to do the good work that they do).

Imagine a corporation that is truly sustainable, that is more concerned with the next quarter century than the next fiscal quarter.

IMAGINE

Met with our attorney this week and we are preparing an application to the federal government for charitable status.  This application may need revisions before it is accepted and may lengthen the timing of “startup” closer to 8-12 months from this date.

Please comment on this idea and give whatever thoughts you may have.  Without your input, the idea that is Philosopher’s Stone is limited – the goal is to make this greater than ourselves.  Keep in mind that this must run as a business that makes money (it is not a charity for any one group).  It is our dream that this corporation makes lots of money and the goal is $10,000,000 to be distributed annually to our designated charities.  This won’t happen overnight – might take some time, might never happen.  But, that is the goal – we all need goals.

IMAGINE

Philosopher's Stone Oil & Gas - Cynics and Integrity

Just a quick update on the setting up of Philosopher's Stone Oil & Gas.  Meeting with our lawyer and accountant (always hire people way smarter than yourself !!) to discuss timing of the application for charity status.  I hope to have the applications into the authorities on or before June 1 of this year.  It will the take 6-12 months to get approval as a charity status corporation or trust from the Canadian government.  This will allow for scoping out of  oil and gas properties, secure financing/credit arrangements and setting up policy/procedures for acquiring and maintaining the targeted properties.

Today's title was prompted by one of the most outrageous stories that I have seen regarding an oil and gas related corporation.  Transocean (you know; Gulf of Mexico, BP, oil spill, 11 souls lost) granted "safety" bonuses to their "executives" for a job well done this past year.  Seriously ?  Why not just send birthday cards to the 11 people that lost their lives in that unfortunate and preventable event.

Transocean's lack of "humanism" in the face of their cynical explanations of "targets" and "responsibilities" showed a lack of integrity that was steeped in cynicism.  Further, Transocean's lack of awareness as to how the victim's families and society in general would view this grab for cash by individuals complicit in this "accident" - exposes a prevailing attitude in the oil and gas industry.   An attitude of "what can I get and how fast".  There is nothing wrong with making a profit, there is nothing wrong with giving bonuses and rewarding people; I do question when companies push "productivity" and "bottom line" at the expense of safety and integrity in an effort to get those profits and bonuses.  Bonuses that are divided up disproportionately between highly paid "executives".  Why not set a percentage of each person's base salary not to exceed 25 %.  And let's say that 25 % is the same for each employee.  I mean - you only get bonuses if the "corporation" hits their targets.  That's not socialism or communism - it's just good and ethical capitalism (I would like to say "humanism").

I've had people ask why I am leading the charge to start Philosopher's Stone Oil & Gas.  Questions like "what's the angle", "how do you make money at that", "why the f*#k would you do that".  They've asked if I've "got religion".  Therefor, I owe an explanation to those reading this blog and those supporting this idea.

I"M SELFISH.  YES, THAT'S RIGHT - I'M SELFISH.

I no longer want to work in a cynical environment and fight to retain my integrity in the face of "leaders" who have questionable values.  I no longer wish to dedicate my knowledge and energy to a corporation that is more like a psychopath being served by sociopaths.  I want to spend my remaining work years doing something that my children and grand children can be proud of.  Instead of leaving them a big inheritance, I want to leave a legacy of service to my family and my community.

SO THAT'S IT.  I'M EXPOSED. I'M SELFISH AND I'M WILLING TO ADMIT IT.

Oh, by the way.  Transocean's executives made an announcement that they were donating their bonuses to the 11 families of the terrible accident.  Only after the media and others put the absurdity of "safety bonuses" in Transocean's face did they give up this money.

Cynicism and integrity.  Transocean is not the oil and gas corporation with an abundance of one and a deficit in the other.

First Blog - Philospher's Stone Oil & Gas

This blog is to be a running chronicle of the challenges of starting a Not-For-Profit Oil and Gas Corporation  (yeah, yeah ; not for profit - on purpose).

As we go through the process of application for status as a charity from the tax authorities, identifying a Board of Directors, rallying support from the oil and gas industry, financing this venture and finally - putting this plan into action and operation; the reader will share our experiences and be asked to give their opinions and advice as we progress.

The name Philosopher's Stone Oil & Gas is a reflection of our challenge to take the industry's sh*t (minor working interests, declining oil & gas fields, etc.) and turn it into gold for our designated charities.

This will take accurate property evaluation, efficient work processes and a lot of luck.

Unfortunately, Philosopher's Stone will benefit from oil and gas corporations wanting to reduce their costs by increasing their productivity and efficiences (i.e. layoffs or worse - one person doing a two person job), increase their profit per barrel of oil equivilent (sometimes at the risk of the environment and safety) and the growing unrest in the Middle East.

Fortunately, Philosopher's Stone will be there to hire staff.  We will train those new to the industry, provide a place for semi retired workers to continue earning money - and still provide flexibility in time and the work environment.  We will not descriminate based on gender, sexual orientation, disabilities or race - however, we will descriminate against those whiny, no ambition, me first types that permeate the industry and its offices.

In subsequent posts I will try not to sound like I have a stick up my ......... 

Please comment as you see fit, be patient with my initial blogs and see that we are trying to create something bigger than ourselves for the benefit of our community.


Blackheart