Thursday, June 26, 2008

Obama shakes down the oil companies

Senator Barrack Obama wants to stop the oil companies from profiting on the high price of oil. On June 9 he backed a special tax to punish them for providing gasoline, oil products and everythig else that can be made from crude oil. Punish them for selling to me? But it is a market transaction: big coil doesn't force me to buy from them. And the can't. He want to protect me from the big, evil world, assuming that I can't or won't fend for myself. Uh... distinguished Senator Obama, I am an adult. But I have seen this movie before with different characters. The regulators always gain. Oh, they have pure motives.... but they always gain. It's a coincidence. But the cartoon is mislabeled. It's not Big Oil that is doing the shake down; it is the US Congress shaking down the oil companies. But they got it right about the guy who just by pure chance was in the right place at the right time to grab some cash - not that he intended this. Yahoo News Hot Air - Michelle Malkin
For later research: Obama asserted that offshore oil exploration would --in the very best scenario-- take five years to drive down the cost of gas 3 or 4 cents, but that an investment of 250 billion dollars five years ago would have produced an engine that didn't require fossil fuels. Obama's Fantasy Islands

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