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Senate Republicans blocked a proposal yesterday to tax the windfall profits of the largest oil companies; yet another reason to not support a 3rd Bush Presidency!

QUESTION:
I find it hard to blame the oil companies for trying to make a profit. If I’m the CEO, that’s my mandate–to make as much money for the stock holders as I can.

I believe we’re having trouble because our government has no will to realize that we can both drill on our own soil (which has oil reserves greater than Saudi Arabia) and protect the environment at the same time.

The price at the pump crunch is happening because the companies aren’t able to get their hands on enough crude to manufacture the gas.

Thoughts?

MY ANSWER:
I agree with you up to the point (and to the extent), that “our government has no will”. Whether Republican or Democrat-controlled, the king of do-nothingness and no-solutions reigns supreme on Capitol Hill…but that’s another topic.

There has been much talk about drilling on American soil. At what cost though? Who foots the bill? Taxpayers should, according to the Presumptive Republican nominee, a proponent of tax breaks and other subsidies for Big Oil. Under the Bush Administration, Big Oil made approximately $525 billion in profits while at the same time, home foreclosures rose by as much as 45 percent, wages declined by nearly $1,700 and the number of Americans without Health Insurance increased by 6 million. If we were to be honest with ourselves, who really needs a tax break, who really needs a subsidy? What I am getting at is that we should be weary of any proposals laid on the table by these high-priced Big Oil lobbyists.

Furthermore, how could I justifiably support the proponents of Big Oil as they push for legislation to industrialize national treasures like the Arctic National Wildlife Refuge to the peril of already vanishing polar bears, arctic foxes and caribou? That is and should never be an acceptable solution for the energy crisis.

Notwithstanding the established fact that there is a shortage of crude oil, I, neither should you make any excuses for the contrivances of the Oil Companies; they already have 525 billion excuses!

In the DC area, we pay more than $4 a gallon (the highest gas prices have reached in US history). Exxon Mobile made around $83,000 a minute last year ($83,000 a minute!) , netting record profits, legally, but not honestly with corporate markups and profiteering. Yes, making a profit is the ideal for any business model, but shouldn’t there be a hedge when making a profit becomes or borders on what is exploitative?

In the final analysis, will drilling for more oil on US soil bring a solution to the current energy crisis? Possibly. But, we must first consider the cost of lives (human and wildlife) . We must secondly consider the cost where the environment is concerned (which ultimately affects our quality of life). We must consider the cost to taxpayers. Moreover, we must take into consideration and invest more into alternative energy sources.

More drilling only serves to further fatten the coffers of Big Oil Companies. The longterm (and short term) benefits for our environment, and (ultimately) our children and grandchildren by investing in and using alternative energy sources far outweigh those of the self-serving Big Oil narcissists who have the audacity to seek empathy where retribution is justified.

Bottom line, the cycle of direct and indirect killing (of humans and wildlife) for profit under the cloak of progress can be stopped and must be stopped.

Akhenaton
mail@pharaohsprotege.com