Senator McCain Attacks Oil Companies

Discussion in 'Politics' started by KenH, Jun 15, 2008.

  1. KenH

    KenH
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    I don't like it when Senator Obama attacks my industry and I don't like it when Senator McCain follows suit.



    " "I am very angry, frankly, at the oil companies," said the presumptive GOP presidential nominee. "Not only because of the obscene profits they've made, but their failure to invest in alternative energy to help us eliminate our dependence on foreign oil."

    ...

    OK, why should oil companies be investing in "alternative energy?" They're in the oil business, not the windmill business, for Pete's sake.

    "Obscene profits"? To be sure, they're eye-popping in absolute dollars. But ExxonMobil's $40 billion in profit last year was based on $404 billion in sales - a fairly pedestrian 10 percent margin.

    Industry-wide, profit margins average a rela.tively anemic 8.1 percent.

    ...

    And McCain and his Greeniac buddies in Congress are in no small way responsible for that.

    They've blocked exploration and drilling offshore and in any part of the Arctic National Wildlife Refuge - likely repositories of some 100 billion barrels of oil and hundreds of trillions of cubic feet of natural gas.

    Just the news that America's domestic energy sources were finally being tapped surely would discourage those "evil" speculators, and lower the price of crude. That, in turn, would help strengthen the weakened dollar - another reason for higher prices.

    And it would create tens of thousands of American jobs in the process.

    We understand that McCain relishes his reputation as a "maverick" Republican. But his demagoguery on the energy issue is truly disappointing. "

    - www.nypost.com/seven/06142008/postopinion/editorials/mccains_oil_wrong_115488.htm
     
    #1 KenH, Jun 15, 2008
    Last edited: Jun 15, 2008
  2. Ps104_33

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    But Ken, with all due respect my brother, you were going to vote for Obama and probably still would be had not Bob Barr jumped in.
    I have made my decision. I will vote for Bob Barr. I cannot in good conscience vote for John McCain because of his lack of knowledge on free-market capitalism and falling in with the man-made global warming hoax.
     
  3. steaver

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    Hey Ken, we agree on something!

    So I haven't been keeping up with your candidate changes. Have you abandoned the butcher Obama? Praise God if you have, but it probably wasn't because the man is antichrist against God's word.

    God Bless! :thumbs:
     
  4. billwald

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    >"Obscene profits"? To be sure, they're eye-popping in absolute dollars. But ExxonMobil's $40 billion in profit last year was based on $404 billion in sales - a fairly pedestrian 10 percent margin.

    Yes, but after WW2 wasn't I.G. Farbin prosecuted for excess war profits? Something like that? Are these not war profits? Should there not be a tax on oil profits to pay for the oil wars? Is it more "fair" to trash the dollar and let the grandkids pay?????
     
  5. Revmitchell

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    This is an issue not a principle. The more money the oil companies make the more money in taxes the government makes which keeps them in power.
     
  6. dragonfly

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    I think you are on to something here perhaps.
     
  7. tinytim

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    Who is big oil?

    IT IS US... People... US citizens....

    People that hold shares....

    Retired people, working people, US investors...

    Why does the government want to penalize the people of America for making wise financial decisions?

    Jealousy? Jealous that the men and women in Government are not as smart as others that invested in a winning market?

    the American Dream was built on competition... and hard work.
    Not the Robin Hood policies of Obama, and Obama wannabe (McCain)
    Or maybe I should call him Lil Obama, or Obama Jr.

    The only reason McCain is saying this stuff is because he is pandering to Obama followers...
    It's the same reason McCain got on the Global Warming/Climate Change bandwagon last month...
    He is trying to steal Obamaites..

    While at the same time, is driving us evangelicals further, and further away...

    Obama will be the next president.

    McCain is driving his conservative base away trying to pander to people who are smart enough to see through his political ploy..
    And when they see through his hypocrisy, they will choose Obama.

    At least Obama is who he is.... not trying to be someone else to get votes.
     
  8. Salty

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    Just wondering, what was the total payroll for the players in Major League Baseball was?

    If you a team pays an avergae of 100 million dollars per team, that comes out to 3 billion dollars per year. Would you recommend that baseball players who make more than 1 million dollars per year be assesed a windfall tax?

    For baseball payroll check this link:
     
  9. Rippon

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  10. Rippon

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  11. Magnetic Poles

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    Short sighted businesses will find themselves obsolete. To say that ExxonMobil is in the oil business and not in the energy business is such short sightedness. It is not oil that people buy, it is the ability to move themselves around in cars, planes, trains, and ships. There are many ways to propel those vehicles. If the telecoms considered themselves to be "phone companies" rather than in telecommunications, they'd be in deeper doodie than they are now. As voice landlines are replaced by VoIP, and DSL becomes as important as voice service, companies must adapt or die. If they aren't visionary enough, this is their fate. And usually they are not and then seek government bailouts.
     
  12. KenH

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    What you say is true, MP. However, it is not the business of the government to force companies to not be shortsighted. It is the shareholders.
     
  13. Salty

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  14. KenH

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    About $.10 per gallon - in a good month.

    However, Exxon Mobil has said that it will sell its remaining retail stations that it owns. It will only have branded stations owned by others in the future. Therefore, it will only be a wholesaler, not a retailer, in the gasoline business.
     
  15. billwald

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    Yup - 10 cents on retail sales, 10 cents on transporting it to the dealer, 10 cents to the wholesaler, 10 cents to transporting it to the wholesaler, 10 cents on the refining . . . .
     
  16. Dragoon68

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    It's the same foolishness whether it comes out of McCain's mouth or Obama's. It plays well to some because of their wealth envy and their desire for government to solve all problems. What politician can resist such vote buying bait? Government is the bigger problem!
     
  17. Dragoon68

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    This is completely wrong although it has a nice rhyme to it!
     
  18. Salty

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    Then what is the breakdown of the $4 price of gas


    ARABS........................................................2.20
    TRANSPORATION to US..................................0.25
    REFINING....................................................0.40
    TRANSPORATION TO LOCAL STATION...............0.25
    RETAILER....................................................0.10
    TAXES PAID BY Corp, and local stations............0.20 (Pased on)
    FEDERAL EXCISE TAX....................................0.20
    (NY) TAX....................................................0.40

    TOTAL.......................................................4.00

    This is my guessmation. How close do you think that I am?
     
  19. KenH

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    We in the United States get little of our oil from Arabs.
     
  20. Salty

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    Note: Arabs or anyone who gets US dollars for the oil:BangHead:




    Ok, woudl you say the above amounts are close to the actual amounts?
     

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