When Big Oil Does Good Things
Murphy Oil Gives Every High School Graduate In One Town $6,000 A Year For College
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Big Oil Gives Back
The CEO of Murphy Oil made a $50 million promise to the families of El Dorado, Ark. He offered to pay the college tuitions for each student that finishes high school. Richard Schlesinger reports.
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The grade schoolers in El Dorado, Ark., know they'll be able to get a college education - thanks to the local oil company. (CBS)
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"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 $50 million over 20 years.
Oh that was definitely the closer.
Martin Crawford, who moved to El Dorado with his wife and six daughters.The promise to help pay tuition has paid off in more ways than one.
In the last year, people have moved here from 25 states, the town voted to tax itself to build a new high school, and, while home values might be in free fall where you are, they're not here.
In fact house prices in El Dorado shot up almost 33 percent in one month. Martin and Maxine Crawford moved here from Memphis with their six daughters.
"When they explained what the Promise was, it was a slam-dunk for us," Martin Crawford said. "Oh that was definitely the closer."
Oil companies aren't normally seen as the good guys.
In El Dorado, A little pain at the pump is the price of admission to a future that might otherwise be beyond reach.
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Re: "Oil companies aren''t normally seen as the good guys."
We can be sure that this meager donation did not significantly reduce the compensation of this Corporate executive pirate.
Disgusting Corporations such as petro-terrorists and other war profiteers are always trying to buy "good will" in an effort to mitigate their crimes and abuses.
Shame on CBS Newz for helping them.
P.S. I am surpised Obama has time to blog.
how big was the one you turned back for me the other day?
check this guy out
http://www.youtube.com/v/Gn8EQ0azXpQ&hl=en"
thats how I got started. Spent many many hours with my dad fishing, just wish he was still here to see his grandson keep rubbin my face in the 2 pound black crappie he caucht a few weeks ago. His team is 5-2 hoping for 6-2.
thats why I missed his game tonite, that nasty 4 letter word called work. Have a great night my friend. will let one go for ya.
Surely even the blood-drenched oil pirates at Exxon-Mobil hand out a few meager crumbs now and then, of the billion$ and billion$ of war profiteering booty that they have plundered.
posted by noloyalisti
Never took Econ 101 noloyalisti? Companies don''t pay taxes, people do. Think before you speak.
Posted by mjvw2
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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...
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
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by mitsword
June 19, 2008 11:58 AM EDT
- 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...
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Reply to this comment
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See all 36 CommentsOh, 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!