When Big Oil Does Good Things

(CBS)  Just like first graders anywhere, the kids in El Dorado, Ark., have started thinking about the big question.

"What do you want to be, Allison, when you grow up?" CBS News correspondent Richard Schlesinger asked.

"Half veterinarian, half artist," Allison said.

But unlike most first graders outside El Dorado, when it comes time to pick a college that teaches half-veterinarians-half-artists, Allison's tuition will be paid for by … the oil company just down the road.

Yes, that's right. Murphy Oil, a Fortune 200 company. Its CEO, Claiborne Deming, decided the kids needed help.

"So I thought, dad-gum it, we need to do something," Deming said.

And dad-gum-it if he didn't find $50 million to make a promise to the people of this small town.

So, every kid who goes through the El Dorado School system and graduates from the high school will be given $6,000 a year for up to five years to help pay for college.

"We want you to go to college anywhere you can," Deming said. "Here's $6,000. And if you go to an Arkansas public school, it's free."

Six grand will cover the entire annual tuition bill at Arkansas' public universities.

Murphy Oil will spend the $50 million over 20 years.

"We are quite a large company in a small community so we can have a very immediate and real impact that we can see and we can see it pretty quickly," Deming said.

The promise to help pay tuition has paid off in more ways than one.

In the last year, people have moved here from 25 states, the town voted to tax itself to build a new high school, and, while home values might be in free fall where you are, they're not here.

In fact house prices in El Dorado shot up almost 33 percent in one month. Martin and Maxine Crawford moved here from Memphis with their six daughters.

"When they explained what the Promise was, it was a slam-dunk for us," Martin Crawford said. "Oh that was definitely the closer."

Oil companies aren't normally seen as the good guys.

In El Dorado, A little pain at the pump is the price of admission to a future that might otherwise be beyond reach.

[mitsword]

This is a small but positive first step to depressurizing the big-oil bubble, and a means to resolve the national crisis of school aid. Now if the big guys like Exxon-Mobil, BP, etc., pick up the ball and run with it, our schools might get back to the basics of educating our kids before we''re doomed to become a third-class nation ruled by foreign nationals whose intent it to destroy us from within by draining our economy. James Carville had it right when he stated "It''s the economy, stupid!" The world revolves around the highest monetary exchange rate, whether the dollar, euro, or other value. It''s well past time to wake up and realize the almighty dollar isn''t so almighty any more thanks to any number of factors. While you were sleeping...

Oh, but wait! George 2 has challenged the Dems to cease resistance to offshore drilling so the big global conglomerates can tap the rest of the financial reserves of our once-great nation. Nice move, Bushy! Could it be the prelude to Shock and Awe, part 2?

I''m no financial wizard; this is Economics 101. During the past 50 years plus, I''ve maintained a comfortable debt-free lifestyle by living within my means, paying as I go to provide myself security in my senior years. My major concern now it that the political idiots have destroyed the basis for that security. And I have lots of company out here, hoping that security isn''t drained before my life is finished. It''s a *** shoot!

[blackyowe]

Big deal they all do more damage than good and are recordinging record profits.

[blackyowe]

Big deal they all do more damage than good and are recordinging record profits.

[bretster7]

nancy naive said,
Murphy Oil Gives Every High School Graduate In One Town $6,000 A Year For College... Hmmmm.

Exxon... on scedule for $44,000,000,000 in profits this year...

Hmmm, at $6,000 per student, that''''s 7,000,000 students...

Regards,



Good point. How about Harvard who has a TAX EXEMPT endowment, that yialds about 18-21% per year.
At that yield this TAX EXEMPT endowment makes around 8 Billion dollars in interest, or enough to put around 25,000 students (Harvards annual enrollment)through college.
Do they dothis? No they complain about costs and raise their tuition by about 20% per year.
Does any body complain about the excessive profits of "Big Education"? No, of course not, Harvard and all theother overy wealthy schools are of the leftist bent, so of course they are not going to be demonized inany way

[faith_in_w]

Oh arent they wonderful?

[blackyowe]

Big deal they all do more damage than good and are recordinging record profits.

[blackyowe]

Big deal they all do more damage than good and are recordinging record profits.

[tulcak]

Never took Econ 101 noloyalisti? Companies don''''t pay taxes, people do. Think before you speak.
Posted by mjvw2
--------------------------
well, you took idiot 101, legally, companies are defined as individuals and companies DO pay taxes you moron. ever own a business? did your business pay taxes? of course it did... now, go away...

[tulcak]

Nice picture of kids in a classroom. Our continued addiction to this dirty energy resource endangers the future of these kids; for us all. There is nothing "good" about oil. We need to STOP all drilling of oil. We need to STOP all consumption of oil. Oil is bad for our national security, bad for our environment, and bad for our economy. This is the truth that the oil business is trying to cover with their filthy smokescreen.

[mjvw2]

"Now we just need to tax the living heck out of the larger ones like Exxon and Chevron so we can pay for their wars."
posted by noloyalisti

Never took Econ 101 noloyalisti? Companies don''t pay taxes, people do. Think before you speak.