Fighting Big Oil – Democrats Standing Up To Power
This was a very good clip from Rachel Maddow’s show last night. I particularly like the beginning montage of Senators grilling the oil executives. It speaks volumes about how Washington works and corporate entitlement. It’s just amazing that they will issue threats if they don’t get their way. If they have to give up just a sliver of their PROFITS, they will raise prices. You got that, they’re getting your money one way or another.
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Every couple of years congress performs this sideshow. The tax breaks for oil is not a party issue because both parties are guilty of giving them breaks. Our congressmen will call in the CEO’s of the oil companies, grill them, look good for the press and go to lunch. Nothing will change and they will repeat this charade in a couple more years.
Yes the oil companies make huge profits but as a percentage of revenue, it is not that large. Take away the oil depletion allowance and the price oil gas will raise which will hurt everyone especially the working middle class.
Maxine had the answer and that is to nationalize the oil industry and have the government control it. Works well in Venezuela.
Nationalization works well in Venezuela which gets half of its state revenue from oil, in Brazil where the government owns a majority share of Petrobas, in Mexico with its state-owned Pemex, in Saudi Arabia where the Royal Family owns it all. However, Chavez, due to “worthless U.S. dollars” wants to cap oil at $100 a barrel.
http://www.laht.com/article.asp?ArticleId=393870&CategoryId=10717
Yeah, BOTH parties! Another LIE from our TROLL ATLANTA RALPH. Since 1990, 75% of Big Oil political contributions have gone to Republicans and ever increasing. See the graphs below (lots of Red, little Democratic blue):
http://www.opensecrets.org/industries/indus.php?ind=e01
Just announced that Sen. Herb Kohl of Wisconsin will not seek another term so Russ Feingold may try to represent Wisconsin again. With the tables being turned against the Republican teabaggers in Wisconsin, Feingold probably has a good chance of getting back to Washington.