Why Make Millions When We Can Make...Billions!

American oil companies and the Saudi royals are currently raking in the dough because the price of oil has reached $67 per barrel. The BBC notes:

With US economic growth strong and the latest data showing car sales at their highest level since the consumer slump following 11 September 2001, the stage is set for further upward pressure on oil, analysts said.

Auto sales have increased this summer thanks to the "Employee Discount For Everyone" craze that has been catching on in dealerships across the nation. This is how it works:

1. Auto maker lays off thousands of employees
2. Auto maker decreases expenditures, increases profits
3. Auto maker offers employee discount to all customers
4. Auto maker sells more products, increases profits
5. Customer pays less for car, pays more for gas
6. Go back to #1 and repeat

Life must be spectacular as an oil company executive. Not only does the American public continue to buy your gas guzzling vehicles but the U.S. Congress literally gives you billions of dollars just because you are an oil company executive. MSNBC:

ALBUQUERQUE, N.M. - President Bush on Monday signed sweeping legislation that provides billions of dollars in tax subsidies to energy companies, yet does little to quickly ease gas prices or lower America’s reliance on foreign oil.

“This bill is not going to solve our energy challenges overnight,” Bush said just before signing the bill into law. “It’s going to take years of focused efforts to alleviate those problems.”

Republicans in Congress (and some Dumbocrats) have given $12.3 billion in subsides to industry? Only a socialist would do such a thing. How about the $286 billion transportation bill with $24 billion worth of pork projects. Rep. Don Young (R-AK) gets a $250 million bridge named after him in Anchorage now known as Don Young's Way.

Government spending is alive and well in the 21st century.

Comments

[la]

I prefer to call them the Republicrats.

[el s]

cars suck.

[Matt]

yuch, what a mess.

[grannyinsanity]

People do not like this, but talk radio is taming it down very nicely.

Bruce Williams does this routine where he says that oil (and pharmceutical) companies sink a lot of money into developing their product and he doesn't recall anybody passing the hat when they weren't doing so well.

[Sonoma]

Yeah, OK. But where are the democrats? As with the Iraq Big Lie, have any democrats unloosed the kind of political attack that might righteously be construed as unsparing? Have any democrats thought to equate every decison taken by those who committed treason, that this nation would war, with the furtherance of that treason?

Goddamn them all. It was said two years ago- hell, it was evidenced by John Kerry last summer- that it is impolitc to unsparingly attack "popular president" Craven thinking, all along. But the polls now show the light has dawned, the sun has risen, most know the Bushites lied. The taproot of all subsebsequent corruption is a war, engineered and perpetuated by traitors.

So don't goddamn the GOP for remaining true to the furtherance of corporatism, by any means neccessary. Goddamn those upon whom you rely to cover your back, and who have instead chose to knife it.

[Pepper]

I love your link of the transportation bill to outright socialism. The oil industry IS America's state industry. Isn't socialism supposed to be dirty and nasty and shameful to these people?

[Mark]

Actually, the energy bill gives more than just $12.3 billion to the oil companies.

I can't believe I typed just $12.3 billion. Anyway, there are three provisions alone that could be worth upwards of $78 billion to Bush's buddies.

And Sonoma brings up a great point -- the Dems have rolled over and not made the political hay out of this they could. Not sure if they've also taken too much oil money, or if they're getting used to rolling over and taking it.

[Agi T. Prop]

Sonoma's right. The Dems have caved in on almost every major issue except for Social Security. They let Bush have his war in Iraq. They helped vote for the infamous bankruptcy bill and now this energy bill.

As for energy companies, I just watched NOW on PBS in which they discussed the new documentary about Enron. Those evil Bush-loving bastards managed not only to bankrupt my state but also help elect Governor Gropenfuhrer.