President Barry “Almighty” declared on Saturday that the reason behind the soaring price of gas is really quite simple to identify. It’s solely because of the fact that greedy oil companies, commonly referred to as “big oil” by Barry and the Democrats, are profiting very handsomely from those very same rising prices. And what is his remedy for this perceived corporate greed problem? He has urged Congress once again to end $4 billion a year in oil and gas company tax breaks. "These tax giveaways aren't right," Barry said in his weekly radio and Internet address. "They aren't smart. And we need to end them." So let it be written, so let it be done. Barry has been sparring for months with congressional Republicans over the skyrocketing cost of gasoline, which has topped $4 a gallon in some regions of the country, more than $1 dollar higher than a year ago. The rising prices have contributed to a slowdown in supposed economic growth and have also hurt Barry's public approval ratings. Except with blacks of course, they think he’s doing just a bang up job. But hey, let’s not forget that when Barry “took” office, gas was at $1.83 a gallon. Just last night I paid $3.79. So the black folks may be thrilled with their boy Barry, but I think BO stinks!
And of course it’s gotten plenty of play in the state controlled media, the Barry cheering section, that big, bad ExxonMobile Corp. just this week reported nearly $11 billion in profits for the first quarter of this year. As did the fact that the oil giant also said that it had no control over oil prices. And by the way, other oil companies also reported some pretty substantial gains, but only Exxon Mobil was singled out and used as Barry’s whipping boy. “Dingy” Harry Reid, D-Nev., says he plans to consider Barry's proposal of ending the tax breaks, as early as next week. Good old “Dingy,” always happy to lend a hand to a fellow socialist, the country and the people be damned. Barry proclaimed that all that money recouped from ending the oil and gas tax subsidies should be used on new energy resources and research. He said he refuses to cut spending on clean energy initiatives. "An investment in clean energy today is an investment in a better tomorrow," he said. "And I think that's an investment worth making." Personally I think that his outright fanaticism regarding the supposed benefits of his proposed “green technology” is one of the primary reasons for 4 dollar a gallon gas. But then what do I know? And just as a little side note here, as of July 2010 Barry’s “stimulus package had diverted $134 Billion in private investment into “clean energy,” a field whose economic benefit, and whose ability to sustain long-term jobs, is not at all evident. At least at this point in time.
Barry's many critics, however, say his call to end such subsidies is merely support for new tax increases that would end up costing even more jobs. But then taking any kind of action that would actually encourage the creation of private sector jobs is really of very little interest to Barry. "The president may think he's punishing CEOs of big companies, but his plan will hurt the everyday consumer of energy and imperil the jobs of millions of hardworking people in American-based companies," Rep. James Lankford, a first-term congressman from Oklahoma, said in the Republicans' weekly address. Look, I have said on any number of previous occasions, and I will stand by it, that Barry is determined to bring about a complete economic collapse in this country, one the likes of which none of us have ever seen before. It has been his overriding goal since day one. It is the basis of the plan that he sees being the one that provides to him, and the government, the best chance of gaining many more opportunities to encroach even further into the lives of every single American citizen. He figures if he can just make things bad enough, people will start clamoring for more government involvement. This gas thing is just more crisis created by him so that he can then take full advantage of it.
In his Saturday address, Barry continued perpetuating the lie that the economy was growing again and took note of nearly 2 million new private sector jobs in the last 13 months. I guess he figures that if he says it often enough and convincingly enough, we, who make up the stupid masses actually out there in the economy, will eventually begin to believe him. But, of course, what the president did not mention is that the pace of the supposed recovery slowed significantly in the first three months of this year. The nation's economy grew at a 1.8 percent annual rate during that quarter, a much slower pace than the supposed 3.1 percent rate reported in the previous three months. But can we really trust any of these numbers being bandied about by this the most corrupt administration in my lifetime? These guys are not the least bit shy about pulling numbers essentially out of thin air, especially if they can be presented in such a way that they appear believable, and then used to bolster whatever argument they may be trying to advance at the time. The state controlled media is a very important asset in this regard. They insist upon talking about “jobs saved” when there is absolutely no way to quantify such a thing. But that doesn’t stop them from continuing to make such absurd claims.
Eager to show the he’s taking some sort of action on gas prices, his only solution thus far has been to repeatedly call for ending the tax subsidies to those greedy oil and gas companies, even while conceding that they would not have an immediate effect on prices. He has also called upon his buddy, Eric “The Racist” Holder over at the Justice Department, to investigate possible price fixing and said this week that he was also prodding OPEC nations such as Saudi Arabia to increase production. Right, like this clown is going to prod OPEC. Oh yeah, that’s the sort of decisive action that we need. And what, may I ask, makes him think that OPEC is going to listen to him. Barry continues to be a legend in his own mind, and fails to realize that not everybody has as high of an opinion of him as he seems to have. "I also believe that instead of subsidizing yesterday's energy, we should invest in tomorrow's," he said. Yesterday’s energy, how the Hell does he figure that? This guy is like a dog with a bone when it comes to all of this “green technology” crap! Rep. Lankford also warned that Republicans would not vote to raise the nation's debt ceiling, now sitting at a staggering $14.3 trillion, in the coming weeks unless the measure also includes steps to cut out of control government spending. Presidents have agreed to such deals in the past, and Barry this month, in an interview with The Associated Press, another stalwart member of the state controlled media, conceded that some spending restrictions “might” be necessary to win an increase in the debt ceiling. “Might” be necessary?
So as you are paying record prices for gasoline and watching that cost increase weekly, or even daily in some places, it’s very important that none of us forget to place the blame for the escalating prices squarely where it belongs. And that, my friends, would be with Barack Hussein Obama. Because he’s constantly trying to work his little slight of hand by claiming, to anyone that he thinks he can convince, that it’s all the fault of those big, evil and greedy oil companies. He just loves to quote the fact that the world’s largest oil company, Exxon-Mobil is reporting near-record profits in the first quarter of 2011. But before you allow yourself to be sucked into this little propaganda trap being so deftly set here by Barry, and start cheering too loudly for yet another government takeover of yet another segment of our “private” economy or even start chanting anti-Exxon slogans, you should know a few facts behind these profits. Profits that are being so enthusiastically painted by Barry and just about every other Democrat who can get in front a microphone or on a Sunday “news” show as, excessive. You should know a few of those pesky little facts that are something that Barry or those in the state controlled media would never tell you about. You know, like the fact that only 3% of the oil company’s profits come from their U.S. interests. They are a global company with a very diverse revenue base. And to give us the bigger picture on this, Ken Cohen, vice president of public and government affairs for Exxon Mobil Corporation has posted some details about the company. What follows are some of Mr. Cohen’s posts:
1. Less than 3 percent of ExxonMobil’s earnings are from U.S. gasoline sales
2. ExxonMobil’s earnings are from operations in more than 100 countries around the world.
3. The part of the business that refines and sells gasoline and diesel in the United States represents less than 3 percent – or 3 cents on the dollar – of our total earnings. For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.
4. While ExxonMobil squeezes a couple of pennies out of each gallon of gas, the U.S. government does a bit better. The government rakes in somewhere between 40-60 cents in taxes from each gallon of gas. And since the government spends ZERO dollars to sell that gasoline, their profit margin is 100%.
More from the ExxonMobil report;
1. The main component of the price at the pump is the cost of a barrel of crude oil. Another major component of the price of gas is state and federal taxes, which range from a high of 66 cents per gallon in California to a low of 26 cents per gallon in Alaska, according to January 2011 data. The oil giant must have remembered Congresswoman Maxine Waters’ 2008 comments about socializing oil companies, because they also released some additional financial information to clarify just how they make their money.
2. ExxonMobil’s earnings are in line with the industry average
3. In 2010, ExxonMobil made less than 8 cents for every dollar of revenue from all of our businesses around the world. That’s less than half of companies selling pharmaceuticals, beverages, tobacco and computers, just to name a few. On a dollar-for-dollar basis, our earnings, and those of the U.S. oil and gas industry at large, are generally in line with the average earnings of all U.S. industries.
It is without a doubt that the genetically inept Ms. Waters, like Democrats in general, has a distinct aversion for, and is seldom swayed by, such things as facts. Especially when those facts contradict whatever government expanding policy is being trumpeted by the Democrats as being the next cure all for our economic woes. So while the stellar Ms. Waters has been somewhat silent of late, former speaker Nancy “I’ve had a bit too much botox” Pelosi fired off a letter to Speaker John Boehner almost immediately. In it she says that, “Two weeks after Republicans voted to end Medicare as we know it in order to give tax breaks to Big Oil, Exxon is now reporting soaring profits. There is no reason American taxpayers should subsidize Big Oil’s profits. This week, Speaker Boehner said that oil companies should pay their fair share; it’s now time for him to make good on that statement and schedule a vote next week on ending taxpayer subsidies to Big Oil. It’s time to turn off the spigot of public funds flowing to Big Oil; to invest in clean energy and reduce our dependence on foreign oil; and to create jobs while we responsibly reduce our deficit.” Yes, if you believe Ms. Pelosi, the time is now for a full scale, all out war on “Big Oil.” It should go without saying that the esteemed Ms. “Botox” Pelosi seems to have glossed over the fact that Exxon also paid almost $10 billion dollars in U.S. taxes last year alone, and just under $59 billion in the past five years. Unlike the corporations such one of Barry’s favorites GE, that admits to paying zero tax, Exxon Mobil appears to be supporting the U.S. economy reasonably well. But then we don’t need no stinkin facts, they just get in the way.