Democrats & Liberals Archives

Well Oiled Machine

The Republican party does not hide the fact that their only true allegiance is to the oil industry, pharmaceutical companies and “The Far Right.” They stick together to champion their causes. They are unified in their attack on the seperation of Church and State. They are unified in their struggle to increase the disparity between the haves and the have-nots.

Most importantly, they are unified in their struggle to save the poor and disenfranchised oil executives from the horrors of being just wealthy. The oil CEO’s deserve better than being just wealthy, they need to be super-wealthy.

A few weeks ago:

WASHINGTON (Reuters) - House Republicans recently pushed through legislation that would give more federal subsidies to the oil industry instead of trying to help consumers cope with sharply higher energy prices, the top Democrat on the House Commerce Committee said Saturday.

"We see the U.S. government as "liberators", quoted one of the oil executives.

On Oct. 7, the House of Representatives narrowly passed a bill that would give federal insurance to oil refiners whose expansion projects are delayed by lawsuits or regulatory snags. It also put the Energy Department in charge of permits for new refinery projects as a way to speed up approvals.
The bill was approved, 212-210, after Republican leaders held a five-minute vote open for more than 40 minutes to persuade some party members to change their votes.

Democrats opposed the bill, saying the industry had plenty of its own money to pay for new refineries and did not deserve a government hand-out.

Can you believe Alaska still wants the $4.5 billion owed from the 89 Exxon Valdez accident?

Dingell said Democrats were concerned that high crude oil, natural gas, gasoline, and heating oil prices have a ripple effect throughout the U.S. economy.

"To meet our energy needs, we do not need to weaken protections for clean air and clean water, or spend your tax dollars to help out the oil companies," he said.

We now know that the corporate welfare that was handed out to the oil companies was money well spent.

It's gotta be one of the most rewarding feelings you can possibley experience. Seeing all of those oil executives with their little faces, knowing that they were so close to being just wealthy.

Their effort pays off:

The profits of the oil and gas companies in the Standard & Poor's 500 index rose about 62 percent in the third quarter to about $25.9 billion, excluding special items, compared to a year ago, according to earnings tracker First Call. Exxon Mobil reported the largest profit in U.S. corporate history during the quarter.

That jump in profits followed year-over-year growth of 42 percent for the industry in the second quarter, according to First Call, and full-year profit growth forecast to be up 49 percent. And the profits are not expected to disappear any time soon. Analysts surveyed by First Call expect industry earnings to be up another 13 percent in 2006.

Oil industry stocks have retreated about 11 percent from the highs reached in September when oil and gas prices were near record highs. But even with that retreat in stock and oil prices, the Amex oil index still shows a nearly 40 percent rise for oil stocks over the last 12 months.

A White House official was heard saying, "We must stay the course."

Less than three months ago, the president signed into law a Republican-written energy bill giving $14.5 billion in tax breaks and incentives to the energy industry.

Give till it hurts.

Oil and gas companies overwhelmingly favored Republicans over Democrats in their campaign giving, the study found. Just over 73 percent of the industry's campaign contributions have gone to Republican candidates and organizations.

The Democrats didn't care about these people. Those cold hearted bastards looked at these CEO's and all they saw was wealth. The Republicans were able to get past their initial prejudices and see these poor wretches for what they were, people who needed our governments help.

You want to know the hell the "Just wealthy" go through to be "just wealthy?"

The industry exerts its influence in other, less obvious ways, including membership on the National Petroleum Council, a commission formed to advise the energy secretary. Koch Industries, the largest privately-held oil company in the United States, has financed a network of conservative nonprofit organizations designed to influence policy debate in this country.

You thinks it's easy to walk around with The President of The United States and members of Congress in your pocket? Try it sometime.

U.S.-based oil and gas companies have nearly 900 subsidiaries located in tax haven countries, such as the Cayman Islands and Bermuda.

You try keeping track of all of those hidden asset, it's hell.

The world's largest oil company and third largest company of any kind, ExxonMobil, was the industry's leader in lobbying expenditures, spending $55 million to plead its case with officials in Washington over the past six years.

The worst part of being "just wealthy" that makes this cause so worth-while for the Republicans is the tragic fact that those poor oil executives, have to suffer the ultimate degradation. They have to sleep with one of the most gutter-level, unsavory, sleazy and immoral whores on the planet, the United States government.

Go GOP.

Posted by Andre M. Hernandez at November 10, 2005 9:48 AM