Thursday, March 15, 2012

Big Oil against Obama Equals High Gas Prices

Why hasn’t anyone figured out that it’s U.S. petroleum companies that are spiking the price of gas? Why? Take a look:

Republicans & Big Oil, Inc.


“In late May, the Senate blocked a Democratic proposal to end tax breaks for an oil industry which collects $4 billion in taxpayer subsidies every year. The vote was 52-48, with three Democrats joining the 45 Republicans who voted to oppose the bill.” ...

"There is no dispute that the oil industry is the most profitable industry in the world. The earnings of Exxon Mobil, Chevron and Conoco Phillips have increased 40 percent from a year ago." (From an article by Cynthia Neely)

“Republicans this week are readying a vote on legislation that would ease restrictions on offshore oil drilling in an attempt to increase domestic supply. Democrats, meanwhile, are seeking a vote on repealing billions of dollars worth of tax subsidies for the oil industry.” (From an article by Lucy Madison)

Gingrich for Big oil statement:


http://www.youtube.com/watch?v=P40A3Oi3RO0

Romney for Big oil pitch

http://www.youtube.com/watch?v=UM3mmLEPKgA

Santorum for Big oil pitch

http://www.youtube.com/watch?v=UeYGQqzl7gI


It seems to me the reason Big Oil wants to make sure gas prices keep climbing is to keep Obama from being reelected. Certainly high prices hurt American consumers, but since when has Big Oil given a damn about them. To Big Oil profit is God. For example:

“The two of these that are US owned Corps are Exxon Mobil and Chevron. The two that are foreign owned companies are Royal Dutch Shell and BP.

Since the earnings level of these four Big Oil Corps was so monumentally high prior to 2010, it seems that there is no way that the percentage earnings growth on such an incredibly high base could be robust after 2009.

But guess what? The total earnings growth of these four Big Oil Corps has been truly exceptional since the start of 2010.”

Read more:

http://wuerthwhilewilywakenings.blogspot.com/2012/02/us-big-oil-corps-4q-2011-earnings.html