Big Oil Appears Before Big Brother
Executives from the five top US Oil companies appeared before the Judiciary Committee faced Senator Dick Durbin (D-Ill), who asked, "Where is the corporate conscience?"
The senators only wanted to discuss the public anger over $4-a-gallon gasoline while the executives tried to debate new areas for drilling.
I just paid $59.90 to fill my own gas tank yesterday. It wasn't pleasant by any means. I kept flashing back to my anger at paying $1.99 for a gallon of gas. Oh, for the good old days.
"People we represent are hurting, the companies you represent are profiting," Sen. Patrick Leahy, D-Vt., told the executives. Gee...a company in business to make a profit. What a concept!
I hate the high price we're paying for oil these days, but businesses are in business to make a profit. That's why the founders of the company went into business. Some businessmen (businesspeople? Nah, not gonna be PC, you know what I mean) will use a business that is just getting by to offset a business that is making a profit. That's economics.
Big Oil is making too much of a profit? Who can say how much is too much? Price too high? I can say that about any business, even one that is about to close down.
Do you want to tell the Avon Lady that she's making too much money? How about the Girl Scouts? The person (adult or kid) who delivers your newspaper? I'm not being facetious, if we start telling businesses that they're making too much money, what's to stop government there?
The way to lower gas prices is to stop our dependence on foreign oil. And to do that, we must start drilling places that we consider to be almost sacred, we must build more refineries and we have to get rid of the onus of the current tax structure.
Oh, that brings up taxes. Some are suggesting levying high taxes on Big Oil. Who do you think pays the taxes levied on businesses? It's not the business, they pass all expenses off to...the consumer. So if higher taxes are imposed, they'll just include it in the price of doing business and you and I will pay it. Businesses do not pay taxes...the consumer does. Remember that. It's Economics 101.
Getting back to drilling and building refineries. Okay, one argument against is that it will take years to see the result of drilling and refining because we have to start drilling and build those new refineries (note: did you know it's been over 25 years since the last oil refinery was built?). Guess what? If we had started drilling and building, oh, even ten years ago, we'd be ten years closer to seeing the petroleum products coming out of the refineries than we are now.
And where should we drill? ANWR comes to mind. It's not the pristine area that liberal treehuggers want you to believe. ANWR is an area the size of South Carolina and the drilling area is a tiny part of that. Here's a map you may need to see:
The senators only wanted to discuss the public anger over $4-a-gallon gasoline while the executives tried to debate new areas for drilling.
I just paid $59.90 to fill my own gas tank yesterday. It wasn't pleasant by any means. I kept flashing back to my anger at paying $1.99 for a gallon of gas. Oh, for the good old days.
"People we represent are hurting, the companies you represent are profiting," Sen. Patrick Leahy, D-Vt., told the executives. Gee...a company in business to make a profit. What a concept!
I hate the high price we're paying for oil these days, but businesses are in business to make a profit. That's why the founders of the company went into business. Some businessmen (businesspeople? Nah, not gonna be PC, you know what I mean) will use a business that is just getting by to offset a business that is making a profit. That's economics.
Big Oil is making too much of a profit? Who can say how much is too much? Price too high? I can say that about any business, even one that is about to close down.
Do you want to tell the Avon Lady that she's making too much money? How about the Girl Scouts? The person (adult or kid) who delivers your newspaper? I'm not being facetious, if we start telling businesses that they're making too much money, what's to stop government there?
The way to lower gas prices is to stop our dependence on foreign oil. And to do that, we must start drilling places that we consider to be almost sacred, we must build more refineries and we have to get rid of the onus of the current tax structure.
Oh, that brings up taxes. Some are suggesting levying high taxes on Big Oil. Who do you think pays the taxes levied on businesses? It's not the business, they pass all expenses off to...the consumer. So if higher taxes are imposed, they'll just include it in the price of doing business and you and I will pay it. Businesses do not pay taxes...the consumer does. Remember that. It's Economics 101.
Getting back to drilling and building refineries. Okay, one argument against is that it will take years to see the result of drilling and refining because we have to start drilling and build those new refineries (note: did you know it's been over 25 years since the last oil refinery was built?). Guess what? If we had started drilling and building, oh, even ten years ago, we'd be ten years closer to seeing the petroleum products coming out of the refineries than we are now.
And where should we drill? ANWR comes to mind. It's not the pristine area that liberal treehuggers want you to believe. ANWR is an area the size of South Carolina and the drilling area is a tiny part of that. Here's a map you may need to see:
And it's not the pristine, caribou nature park you have been led to believe it is. Most of the year it's just ugly tundra, no animals to be seen. I used to have pictures, but I've lost them somewhere. If I ever find them, I'll post them to show you just what ANWR really looks like.
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