If you want a lesson about the death of our capitalistic way of life, just review the congressional hearings on 5-21-08 with the major oil companies. The congressional panel was comprised of the leading obstructionists in Washington. This esteemed group has voted against every proposal to develop domestic energy except ethanol which they have supported 100%.
So you put the fox in the hen house and have the fox maul the hens. Durbin, the intellectually challenged senator from the great state of Illinois asked how these gentlemen could do this to the American people. He was holding up a newspaper headline that said Chicago has the highest gasoline prices in the nation. Of course, Chicago has the highest gasoline taxes in the nation. Of course, Durbin stopped the BP expansion of the Whiting refinery that would have allowed that refinery to take Canadian tar sand crude, the most secure source we can get. Of course, Durbin is against drilling in Alaska, offshore, nuclear power, coal in any form, and any progress anywhere in this nation. What Durbin is for is regulation. What, exactly, does Durbin want from Big Oil?
He wants the same thing he wants from you and me. He wants them to give money to the government. He wants them to sell their crude oil for below market prices to compensate for his poor choices on domestic energy. He wants them to take the blame for the results of those poor choices. He wants you to sit in your family room and clap because he is doing something about high gas prices. He wants the U.S. to be like Cuba where the state controls everything and the people all live in poverty. He wants to be part of the end of capitalism in America.
Here’s what the congressional hearings will get. Those oil companies are doing less and less business in the U.S. The U.S. is becoming increasingly hostile to business. For Exxon, the biggest, the U.S. represents 18% of their revenue. They are simply going to stop selling their crude here, sell their old tired refineries here, and spend their capital in countries where they are welcome. So our problem gets bigger and the people who are causing the problem have sold you another bad deal.
I wrote an article in February predicting these hearings. There have been two so far this year. If crude goes up more and the economy goes down more and people get more and more angry, there will be more. Why? The media shows Durbin beating up big oil and the public buys it. The media doesn’t show the executive from Shell reminding the group that the industry is banned from pursuing oil in most of the U.S.
Here’s how it works in our country today. The congress bans all forms of progress. When it begins to cause damage the congress finds someone to blame. Then they have a circus. Remember, these are all lawyers. Bad lawyers who couldn’t make it practicing law. They know how to pass bad laws and cross examine scapegoats. They know how to influence a jury. You are the jury, how do you rule?
Hi Bill. It’s Gary W. checking in. How does Durbin get away with all the mess he’s helped contribute to our energy problem, and when is someone going to exploit his iniqualities a leader? Let’s hope for the go ahead to start tapping US soil for oil.
Gary:
Durbin is typical of our elected officials. He does whatever he feels he should be get TV air time. If it means being against something one day and for it the next he gives the public no credit for keeping score. He will get reelected despite his record.