Friday, February 02, 2007

Hillary Proposes to Confiscate Oil Profits

Yeah, that's a great idea - go ahead and wipe out $440 billion dollars (Exxon) of investors' money. Of course they have to impoverish the shareholders of Chevron, Shell, and all of the other oil service companies all over the globe too. Apparently no pension funds, widows, or orphans own the stock of oil companies. The total market cap of oil names is over $1 trillion. Do you think they are all owned by old white men in Texas?

If so, turn your speakers on and click here.

Here's exactly what would happen in the face of profit confiscation - even if euphemized as "windfall taxation". Not only would investors lose multiples of the money they lost on Enron, oil and gasoline would skyrocket in price. Food, heat, air conditioning and every other consumer expense would inflate. Home prices would deflate; jobs would be lost. What an orgy of prosperity to look forward to!!!

Only in a thoroughly economically illiterate nation can a would-be President trumpet such inanity.

As this news made the rounds today, oil shot up $1.70, a huge move. Just a coincidence? Maybe, maybe not.

Make no mistake - Big Government advocates want oil to skyrocket in price. They intentionally strangle the businessman, the consumer, and the student with their regulation, taxation, and de-humanization and then use the resultant popular angst to argue for more power. Their failures are always excuses for more money and larger mandates. Imagine if you told your boss that your work was sub-par because he didn't give you enough time AND was underpaying you. How would that go over?

"Energy independence"????

Everything in their larger agenda is hellbent on suffocating human independence. As I articulated in a prior post,

They believe everyone should DEPEND on the government for healthcare, housing, birth control, welfare, free lunches, disaster relief, education, retirement, etc. Yet when it comes to energy, all of a sudden they start singing paeans to SELF-SUFFICIENCY. Of course their idea of "energy independence" is based on "alternative" mythology, not on domestic oil production.

The utopists endeavor to control it all.

Please, don't be fooled.


Tax Shelter said...

energy independence

the Dems are idiots. why stop at energy? what about shoes, cars, food, timber, steel, cloth, etc? only when we stop trading with everyone, close our economy, can we be truly "independent" (and dirt poor of course). Is that the Dems want?

The Owner said...

"...the highest profits in the history of the world."

That's pretty nebulous.

How blind do people have to be to think that confiscating a companies lawfully-gained earnings is a way to promote "energy independence?"

I just watched "Enron: The Smartest Guys In The Room" last night. I enjoyed the end of the video, when consumer watch dog groups and California energy commissioners were calling for the national gaurd to come in and take control of the energy plants Enron was "manipulating." That sounds like a good solution to the "problems" of a free, "deregulated" energy market.

Anonymous said...

Hilary 'Chavez' Clinton is more like it. It never ceases to amaze me. Gasbags like Hilary will endlessly denounce the administration's use of the Patriot Act (which sure seems to be working) because it tramples peoples rights but has no problems accepting confiscatory policies like the one above. Maybe if she had at some point had a real job....