Oil Companies are under attack by bonehead Obama. The attack was well timed. Exxon reports Q1 profit of 10,650, up from Q1 of 2010 of 6,300, a 69% increase. I'm glad someone in America is making money. Their company is profitable: Some American workers are secure in their jobs.
Oil is up, but this is not Exxon doing. Look to this administration’s policies instead.
From the Democratic Party environmental extremism position - Obama won't let oil companies do exploratory drilling in ANWR, even preliminary exploration indicates there are billions of barrels there.
Obama won’t allow oil exploration in Gulf
Democrats blocked development of Bakken in the northern tier states. But development proceeded at a snail’s pace, and we may get natural gas out of there by 2016.
Obama has worked to destabilize Arab states, Sort of as an environmental extremist insurance policy. The result is a cut in production. The consequence is those Middle East governments have increased oil prices so they can placate their people with more goodies and less work.
Just to prove he’s out of touch only six weeks ago Obama pushed his "green" tax on energy consumption.
Obama is obsessing instead of thinking. Rigid Obama is indifferent to people matters. So we get him posturing instead of producing some sound policy – witness his calls for investigation of oil companies. We are in for more rough time with Obama’s government micromanagement.
Big government "solutions" always create a large number of problems. Less micromanagement by government is a better idea. Smaller economic and political units (you and I) are more agile and responsive to change. Information is more timely when its personal. Obama may have a more erudite understanding of economics. But I bet not.
Profit is for the Masses - already So Stay Calm People
The popular uproar against Exxon’s profitability gives insight into why so few products are made in America anymore. If a company is to employ workers, the company has to make a profit from those workers. But if an American company makes profit, the people react with scorn and anger. This is stupid.
Americans must change their attitude about profitable activity. Profit is not a dirty word. Profit is the result of making better use of time and materials, when the alternative is wasting time and materials. Too many Americans seem to think the two are the same.
A competitive, capitalist economy permits people to use their time and materials intelligently. People are free to use property to do with as they wish. If the property is wasted, only the people directly involved suffer economic loss. If the property is used intelligently, the people involved will gain. A pertinent observation at this point is people like to share when they have something to share. In a capitalist economy, there is more to go around. The rising tide floats all boats.
In a centrally-planned “workers’ paradise”, innovation is only permitted if it is planned for; that is, innovation will be stifled. Central planning always has been a failure in imagination. Stogy, uninformed, uninterested bureaucrats usually make the decisions which affect the common people. In the end, the common people lose the most and no one cares. The only plenty is poverty.
misery for the masses or a barf certificate
"I don't want this presidency to end on the technicality of whether Barack Obama was born in Hawaii or on the Planet Krypton. I want the ideas on which he got elected to die. These ideas are killing your country." -Mark Steyn