Saturday, May 03, 2008

WSJ - "Windfall Profits For Dummies"

This is one that irks me no end. People standing around the water cooler/bar/whatever, and expounding upon the "evil oil companies"....

The Wall Street Journal, in a Review & Outlook article today, sums the situation well: "This tiff over gas and oil taxes only highlights the intellectual policy confusion – or perhaps we should say cynicism – of our politicians. They want lower prices but don't want more production to increase supply. They want oil "independence" but they've declared off limits most of the big sources of domestic oil that could replace foreign imports. They want Americans to use less oil to reduce greenhouse gases but they protest higher oil prices that reduce demand. They want more oil company investment but they want to confiscate the profits from that investment. And these folks want to be President?"

Can I get an A-MEN?

Get a clue folks. If you doubt the above, then you need desperately to read the entire article IN THE JOURNAL!

Obama and Clinton are really scary. Given half a chance they will deliver on their rhetoric which appeals mostly to those educated in our "Government Schools", as Neal Boortz labels them. The fact is many folks always believe higher prices are the work of evil companies. The solution; soak those bastards! Yes, and then we'll have higher prices, and even less fuel to go around.

Idiocy in the name of getting votes. That in summary is all it amounts to. Independence from overseas control....but not by drilling in ANWR (where we already set the land aside for oil exploration), and not by drilling off our coasts....anywhere....oh, and don't even think about new refineries, or windmills located where "I" sail my yacht! Just wave a wand and become independent of the oil countries. WAIT, maybe we can subsidize corn production for ethanol...yeah, that's the ticket....the added benefit will be our population, long obese, will lose weight because of the disappearing food supply! WOW! are we smart, or what?