Sunday, February 04, 2007

Whose Profits Are These, Anyway?

You need to see this naked grab for money and power. by Sen. Hillary Clinton.

Newsflash, Hill!

The oil companies' profits are just that, THEIRS!

Last time I checked, unless a specific crime is involved, a corporation's money cannot be confiscated, EVEN if you think you have a really, really, nifty-good purpose for that money.

She has to be the DUMBEST woman on the planet. I mean, just think about it.
  1. Oil resources are finite.
  2. The oil companies know about (1). That's what they pay all those geologists on staff for, to let them know where the oil is, and approximately how much of it is around.
  3. If they run out of oil, but don't develop alternatives before that time, the corporation is TOAST!
  4. So, one of the things oil companies already do it to research alternative sources of energy. They also put a little of that profit into other energy companies - like some of the alternative energy places.

    It's called "diversification". I know I didn't graduate from a fancy Ivy League school, but even the community college I attended had that concept in Econ 101. And, yes, I made a "C", but I did remember what I learned there. The non-Ivy way to state that is:
    Don't put all your eggs in one basket.
    So, I think we can presume that the oil companies, knowing that basic investment strategy, already are trying to find cheaper, better, and more plentiful energy reserves.

    But, whether or not they are, it's still NOT YOUR MONEY!
The above rant ignores the question of whether we can trust the government to
  • use the collected funds wisely (as, of course, they already do with Social Security money - sarcasm intended), and,
  • do what no government agency has been able to do so far, which is solve problems, instead of making them worse.
BTW, Hill, did you realize that the people who vote for you are increasing their retirement investments, in part, due to the profits of the big, bad oil companies? Think about what the teachers, public employees, union workers and the like would say if someone (not me, of course) dropped that little factoid in their ear. Would you still be able to be re-elected?

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