Posted by
jwinkles on Tuesday, April 01, 2008 5:02:27 PM
Oil company executives were grilled on Capitol Hill Tuesday about the huge amount of profits reported in 2007. While making the oil companies out to be evil for their “excessive” (whatever that means) profit margins, turns out, government’s answer for lowering prices at the gas pump is to increase its own profit margin. Yes, after lambasting the oil company executives for having the gall to actually turn a profit, the government decides that it should be making more money off the oil companies. In spite of having done nothing to help in production of oil and gas, the government thinks that it has a right to take more money out of the pockets of those who are actually productive members of society. It is a shame that we have so many economic illiterates lurching through the halls of congress.
Keep in mind, congress isn’t upset about the price of gas. Congress is upset at the fact that their grimy hands haven’t been in the pockets of the oil companies any more than what they have. Here we have a bunch of clowns, most of which have never had a real job, who think they know better how to run the oil industry than those who have done it for decades. Rep. Edward Markey, a highly unintelligent miscreant, called on the oil companies to give up the $18 billion in tax cuts referring to them as “billions of federal subsidies”. In other words, any earned dollar escaping the claws of government is now a subsidy. This is their mindset.
I know it is unpopular to defend oil companies, but all the gnashing of teeth by congress and the media gets a little tiring. It gets old hearing day after day how awful everything is in this nation. These people won’t be happy until Americans start throwing themselves off buildings.