BIG OIL GOUGING? What About Leadership Gouging?

        

We are all concerned about higher gas prices…can you imagine making 10-15 dollars an hour and having to commute 40 miles to your job one way? We are not talking Europe here where they have transportation rails and buses in their areas. Yeah maybe in New York, and large cities..but meanwhile what about the heartland?

              

    

.Our country was built on pretty cheap oil and we are spread out, sprawling suburbia, rural and long commutes..

You cannot possibly compare our gas prices to Europes. This should have been taken care of a long time ago..in the 70’s to be exact. Now we have all the environmentalists and greenies and our Government choking us as far as drilling goes..

So now we have the presidential candidates running around telling voters that they will help solve high gas prices. Well, if you believe that, you’ll believe that Hugo Chavez drives a Yugo. It’s just bull.



Both Hillary Clinton and Barack Obama are calling for “investigations” into “price gouging” by American oil companies. Good. There’s plenty of price manipulation going on and, under Presidents Bush and Clinton, little federal oversight. If a big oil company wants to tighten supply, for example, it’s a snap. Just slow down the refinery process by ordering some extra “maintenance” or something.

 

But who is going to investigate Senators Obama and Clinton over their opposition to oil drilling? The Democratic Party has consistently opposed new drilling, and nuclear energy as well. Even the dedicated liberal governments in France and Sweden bought into nuclear. But not the American left, no way.

We have oil in Alaska, the East Coast, The Gulf Coast that we are not drilling…a big ha ha from other countries ..don’t think for a minute Russia or China or Europe would not be using their own resources.

The price of gasoline is not set by Big Oil. It is set by futures exchanges around the world and is a direct result of supply and demand. As the world’s demand for gasoline has increased, it has all but exhausted the world’s surplus production capacity. No new refineries have been built in the U.S. since 1976. That is really looking out for us here at home…don’t ya think?

Governments own three-quarters of the world’s known reserves. Flush with oil revenue, these countries have little incentive to expand their production.

The U.S. is the third-largest oil producer. However, our government has restricted the supply of oil in the ground by putting more and more of our known reserves off limits, specifically parts of Alaska, the Pacific and Atlantic coasts and the Gulf of Mexico. In fact, Exxon – the top U.S. company – is ranked only 14th in the world in terms of oil reserves. In addition, our government has made it more difficult to build and refine oil into gasoline.

Yes we need to conserve, yes we need to be innovative like Americans have always been..Do we really need to be using our food sources? We are paying a high price for that now and I am afraid it will be higher in the future..shortages are already hurting people and it’s coming to America and I’m not talking Neil Diamonds song.

 

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On the Republican side, President Bush has done absolutely nothing about rising gas prices, which is part of the reason is approval rating is approaching 20%. He blames the Democrats. Fine. But the President should be telling all Americans to cut back their gas consumption just a little. He should be urging us to use less gas. That would at least cut into foreign oil’s record profit margins.

Senator John McCain proposes a gas tax “holiday” this summer. True, that would save the folks a few bucks, but it would also add to the massive spending deficit. McCain is not going to rock the boat to make us ‘independent’ either. The government better start balancing the budget soon before Häagen-Dazs becomes more valuable than the U.S. currency.

The sad truth is that both political parties have sold out the folks. For decades, economists knew China and India were industrializing and those countries would demand much greater amounts of oil. Everybody knew that OPEC could slow down production and gouge the world if it could and, of course, now it can.


But if Americans would get angry and begin punishing the foreign oil bandits conserve, Use as much of our own resources as possible..then prices would drop. However, we are often a selfish people. We want those gas-guzzling Hummers and SUVs, and we’re paying a big price for that above and beyond the sticker.

We can buy less gas, urging folks to conserve energy in creative ways without falling into the Gore and his bunch green crap. We can be innovative..We can drill where we have not..We can build cars that get a lot of mileage..and they don’t have to be so little that we can barely get in and out..why not? We are the ones who got to the moon first! Are there now so many regulations that it does not pay to invent? What in the World has happened to America? Don’t answer…we already know..we are captives to globilazation, political correctness, just look at how we cannot say Jihad, thanks to Connie Rice…thats just for starters and leaders in both parties that pander to the vote now and in the future…They are not the ones that are going to have their way of life changed here…need I remind you?

 Instead They will create peer pressure against the guzzle crowd. They will use your children, guilt trip coming America..this oil stuff is all our fault..let’s just suck it up, conserve ..turn that heat down or off..air conditioning…who needs it? just open the windows.buy different light bulbs…of course, do you really think the carbon credit folks will be uncomfortable? Don’t bet on it..once in a while to look good they will pay some carbon credits..  Just watch the commercials Al Gore is bringing to us in prime time next season for the grand sum of 300 million.

I am all for profit and big profits, that is why most people work..to better their lives..however there is a fine line between profits making good money and extreme greed. Without profits there would be no jobs…of course, many of our jobs that make a living wage have gone overseas for cheap labor and that supports those countries.

 

To be fair,Profits reflect the size of an industry, and the oil industry is HUGE! From 2003 to 2007, average earnings for the oil and natural gas industry were approximately 8.1 cents for every dollar of sales, which was only a penny above the average of all U.S. manufacturing industries.
In fact, in 2007, the oil and natural gas industry earned 8.3 cents for every dollar of sales compared to 7.3 cents for all U.S. manufacturing. When you take out the financially challenged auto industry, U.S. manufacturing came out slightly ahead of oil and gas, earning 8.9 cents for every dollar of sales.
the oil companies aren’t owned by a few high rollers. Only 1.5 percent of industry shares are owned by company executives. The rest is owned by people like you and me. If you have a mutual fund or IRA, there is a good chance you own a piece of the oil industry you are looking to vilify.
Oddly enough, our oil and gas companies pay more in taxes, as a percentage of their income, than our manufacturing companies. In 2006, the oil and gas companies’ income tax expenses averaged 40.7 percent, compared to 22.1 percent for U.S. manufacturing companies.
The oil industry is capital intensive, and necessity dictates that the lion’s share of a company’s earnings must be reinvested. These costs remain high in boom periods, like the one the industry is now experiencing, as well as bust periods, like the one that occurred in the 1990s.
Also, it is important to remember that companies do not pay taxes, individuals do. Taxes must be passed along to consumers as part of the cost of doing business. Real people always will (always have) pay the cost of higher taxes. Let consumers – and voters – beware!
When politicians talk about putting a new tax on the oil companies, hold on to your wallets.

Big Oil makes its money by pumping oil out of the ground, not refining and selling it as gasoline. Only a tiny fraction of Exxon’s $36 billion profit last year came from making and selling gas in the U.S.

 

 

 

 

 

 

 

 

 

We need leadership on this energy business, or it is going to cripple our economy. Our energy incompetence has already empowered our enemies. Let’s think for once of the welfare of this country…Be outraged that we are not using our own Resources here in America, Let’s not depend on foreign oil..What is that old saying? Charity begins at home…Let’s use Alaska,the pacific, the Atlantic and the Gulf coasts..let’s stop being silly and destroying ourselves in the process. Enough already!

So let’s get ticked out here. We the people can do this. Big oil AND the Government nor the candidates are looking out for us. Let’s stop rewarding pretending they do.

McCain finally said he would enforce the border security…after much yelling by ‘we the people’..he is not going to change his stance at the present time on what happens to the ‘guest worker program’ pathway to citizenship’ or much else…including drilling….so it is time we make a whole lot more noise….lots of it..if we don’t..if we remain apathetic and lethargic on this…forget this country as you have known it..it won’t be recognizable in just a few short years…a very few short years…It is time to wake up America! Stand up as a people and bombard your reps with calls, letters and faxes…do it again and again until they have to hear you…let them know we are sick and tired of being sick and tired!

Sources:

oil facts by Jane Chastain with World Net Daily