J.p. Morgan :: essays research papers

J.P. Morgan Essay   Ã‚  Ã‚  Ã‚  Ã‚  My life on the whole has helped the whole country prosper. I give away so much money to great causes. I also help the government with monetary crises. I admit that I am very wealthy. But is having money a crime in this capitalist country? Definitely not. I obtained my wealth by hard work and dedication. I never once backstabbed or stepped on people to get what I wanted.   Ã‚  Ã‚  Ã‚  Ã‚  I have helped and continue to help companies that are in need of money. I have financed International Harvester, American Telephone and Telegraph, and General Electric. Without the money I gave these companies, they would never have existed. In essence, I have helped create great companies such as the above. How is this unethical?   Ã‚  Ã‚  Ã‚  Ã‚  Not only do I help companies; I help the government whenever possible. After the panic of 1893, I helped reorganize railroad companies such as Northern Pacific, Erie, Southern, and the Philadelphia and Reading. The government didn’t have the capital to aid these companies so I did because it needed to be done. Also, in 1895 I sold my firm’s $62 million government bond issues. Due to this, I helped end the gold shortage in the U.S. Treasury. In 1907 I loaned money to banks to keep them from closing after the panic of 1907. As shown above, I have aided the government several times out of the generosity that is in my heart.   Ã‚  Ã‚  Ã‚  Ã‚  Helping the government and companies is good, but I wanted to give back to society. In order to do this, I decided to donate and help found public associations. I founded the Lying-In Hospital in New York City and gave a large sum of money to the Harvard Medical School. In addition, as an ardent Episcopalian, I gave a large portion of funds to build the Cathedral of Saint John the Divine in New York City.

Hydraulic Fracturing Essay

So many people these days are stuck in the ways of their own opinions. They believe the first thing they hear on a topic and stick with it. So close-minded that they won’t even listen to someone else’s opinion before they begin to argue. A popular topic that people are stuck on is hydraulic fracturing, also known as fracking. Either people think it’s great or they hate it. Before you have an opinion on it, what exactly is this â€Å"fracking?† â€Å"Fracking, or hydraulic fracturing, is the process of extracting natural gas from shale rock layers from deep within the earth†¦ Horizontal drilling (along with traditional vertical drilling) allows for the injection of highly pressurized fracking fluids into the shale areas† (What Is Fracking). When fracking fluids are injected it makes it easier to get to the natural gasses embedded in the shale layers. Crews will work on a well for up to a month, going over a mile deep into the surface of the Earth (What Is Fracking). Fracking isn’t something that’s only going on in other countries. It’s happening here on our home turf, and our neighboring states have been huge targets. The Bakken area and the Three Forks formations are affecting us the most. The Bakken field is in North Dakota, and yes, the Three Forks formation is the Three forks we’re all thinking of in our beloved, eastern Montana. The Bakken area covers nine counties in western North Dakota and three counties in Montana. North Dakota is the second largest oil producer in the United States after Texas (Grunewald and Batbold). From 2004 to 2012 North Dakota went from 15 active oil-drilling rigs to 180 active rigs. While we jumped by over 165 rigs, Texas jumped from 500 to 900 rigs in those same years (Grunewald and Batbold). These oil fields have yielded huge economic benefits. Although some people may disagree, fracking has significant economic benefits. Before fracking came about, it was very difficult to get to the natural gas and oil hiding in the layers of shale over a mile below the  Earth’s surface. Now we have the technology making it possible to retrieve the gas and oil that we value so much. Because we can now get to these layers, it has increased employment on our homeland, and our domestic energy companies don’t have to resort to off-shore drilling. Jobs are booming in these fields as more and more wells are drilled. Somewhere around 600,000 jobs have been created since 2002. They expect another 209,000 or so to be created by the year of 2015 (Williams). For every job created in drilling, more than three are created in supplies and service. Williston, North Dakota is a great example of this. So many people are rushing over there to find work that there aren’t enough places for people to live. This has helped in so many ways, new houses are being built so more construction workers and engineers are need. As well as construction, people need food and entertainment so more business need built or remodeled to keep up with the rising demand. Many of the people with fracking jobs are expected to work sometimes up to 70 or 80 hours a week (Williams). That’s two full-time jobs! Because of extensive hours, some companies pay a daily bonus and well over minimum wage. Even making $8.00 an hour for 70 hours with a $50.00 daily bonus, you will earn over $1,000 per week. Plus, many companies are paying room and board for their employees as long as they are working hard. Employment isn’t the only significant benefit from fracking. Another great benefit from fracking is the revenue created from various taxes. The Ohio Oil and Gas Association estimated that the state’s net revenue from the new oil-and-gas tax plan would nearly double, to $2.07 billion over 10 years. They plan to use the revenue by putting half the funds into regulating the industry and capping abandoned â€Å"orphan† wells, with the remaining 50 percent to flow to an income-tax-reduction fund. This would put the total tax cut at an average of around $100 million a year over a decade (Ludlow). Of course as there is with any issue, there are also disadvantages, along with the benefits. Although fracking has some great benefits economically, there are also some disadvantages. One of the biggest issues with fracking is the amount of freshwater wasted. We mix millions and billions of gallons of water with sand and chemicals to shatter the shale. When some of the water resurfaces,  it has been contaminated with chemicals and metals; so it’s no longer usable (Disadvantages). In Pennsylvania over the past three years, over 1.3 billion gallons of wastewater have been produced, that’s enough to cover Manhattan in 3 inches of water (Disadvantages). There is also the issue that the air is being polluted. In 2010, Texas found a 25 percent increase of asthma in young children (Disadvantages). In 2013, California’s Mojave Desert became home to The Ivanpah Solar Power Facility. It is the largest solar thermal power plant in the world. The plant can generate enough power for over 140,000 houses during the peak hours of the day. It’s also believed to reduce carbon dioxide emissions by more than 400,000 tons per year (Ivanpah). It’s not just the environmental concerns that are causing problems, though. One of the biggest economic disadvantages is the problems occurring in the boomtowns. â€Å"In 2005, the Williston Police Department in Williston, North Dakota, received 3,796 calls for service. By 2009, the number of yearly halls had almost doubled, to 6,089. In 2011, the most recent year for which data is available, the Williston P.D. received 15,954 calls for service† (Riggs). Alcohol seems to be the biggest problem for officers in boomtowns. Some say around 80 to 90 percent of their calls involve someone who is under the influence (Riggs). It’s also a known fact that crime is high in boomtowns, probably due to the alcohol consumption and use of illegal narcotics. Another big deal is the amount of prostitution going on in these boomtowns. Cops have a really hard time trying to get around to calls because of heavy congestion, and they probably don’t notice the prostitutes wandering the streets. Everyone has to make their money somehow, though, right? Anyone should be able to make money doing something they enjoy. Everyone is entitled to their own beliefs and opinions. I truly believe in the saying, â€Å"to each, their own!† I really believe that hydraulic fracturing is great for the time being, maybe not in the long run. The amount of unemployment in the United States has dropped significantly since fracking came about. Many people are rushing up there to well-paying jobs, granted the cost of living is high, but it’s not exactly cheap anywhere else is it? Even places like McDonald’s are starting people  out somewhere around $15.00 an hour. That’s nearly double minimum wage. Probably more than some of our parents are making an hour. I think if people are going to be happy going to live in these areas and make the â€Å"big bucks,† that’s none of our business. You’re always going to have the environmentalists who claim it’s only ruining our precious planet. Well, these days it seems as if EVERYTHING is ruining our planet. Nothing is very â€Å"eco-friendly.† I realize that solar power is much better for the environment, but at this point not very many cars can run off of solar power. Yes, some do in a round-about way by running off electricity; if your electricity comes from a solar powered mechanism. Plus, those are the dinky little cars that can’t pull at trailer and haul things to where you need to go. What happens when we drain the sun of its â€Å"magical juices?† Well, we’ll all be dead then because we will freeze to death, so I guess that doesn’t really matter. Why not just kill our planet will big ‘ol diesel pick-up trucks? At least we kill it doing something we love, right? No matter what your opinion is someone is always going to try and get you worked up about it. No one can stand to let people have their own opinions; they always try to convince you that your opinion is wrong and you should believe what they do. Well, all in all hydraulic fracturing has some great benefits and disadvantages. It’s an issue that people will always be hard-headed and stubborn about. So the next time you consider getting into an argument about fracking, before you even start with the argument remember, no matter what, you’re wrong. Works Cited â€Å"Disadvantages†. n.d. The Big Fracking Deal. 27 April 2014. . Grunewald, Rob and Dulguun Batbold. â€Å"Bakken Stands Out In comparison With Other Shale.† Fairfield Sun Times (2014): np. â€Å"Ivanpah†. 2014. Bright Source Limitless. 27 April 2014. . Ludlow, Randy. â€Å"State fracking revenue may not bring tax-cut gusher.† 9 January 2014. The Columbus Dispatch. 27 April 2014. . Riggs, Mike. â€Å"Why Energy Boomtowns Are a Nightmare for Law Enforcement.† 18 October 2013. The Atlantic Cities Place Matters. 27 April 2014. . What Is Fracking. n.d. 27 April 2014 . Williams, Laura. â€Å"Jobs in the Hydrolic Fracturing Industry.† 2014. lovetoknow jobs & careers. 27 April 2014. .

The Road Ahead Will Be Long - 1059 Words

Marvin powell Us history 6th 12/10/2014 Martin Luther king JR In words of Barrack Obama, â€Å"The road ahead will be long. Our climb will be steep.† Obama provides a simple yet strong illustration of the hardships and obstacles faced when Striving for change. The statement made by Obama holds the same meaning when trying to Change communities that are like Irvington. Both Martin Luther King and Barrack Obama have a Superb comprehension of the extreme and diverse difficulties faced in African-American Communities. For instance King stated, â€Å"One hundred year later, the negro is still languishing in the corners of American society and finds himself an exile in his own land.† This quote shines an Illuminating light on the problems seen in Irvington, because we have allowed other Communities to surpass us. While we quarrel and argue amongst each other, we do not see that we are lagging behind the rest of New Jersey and The United States. This township is in critical condition, because the sense of unity, dreams, and change has been lost. To revive our fair township of Irvington we must recover from the phlegmatic state which we are so accustomed to and take action, or like a house with a weak foundation the town will soon crumble to the ground. To begin improving the living standards of Irvington the community, we must come together, scrutinize the community, and solve our basic problems. Then, this township can advance. In the wordsShow MoreRelatedAdvantages Of Long Road Trip829 Words   |  4 PagesTips to Stay Comfortable During Long Road Trips Road trips are the best. When you have the open road ahead of you, all the possibilities in the world are at your reach. One of the best experiences of your life can take place on the road. However, sitting in the car isn’t always the most pleasant experience and road trips can have their ups and downs. 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