AmericanTruckersAtWar

Professional, Polite, Prepared to Kill

Want to Lower Oil Prices? Try Drilling Oil, Not Grilling Oil Executives

Gregory D. Lee

Congress recently launched hearings in which they hauled in the nation’s top oil executives to explain why gasoline prices were so high. “People we represent are hurting, the companies you represent are profiting,” Sen. Patrick Leahy, D-Vermont, told the oil execs.

When asked, J. Stephen Simon, the executive vice-president of Exxon Mobil Corp. replied that his total compensation package was $12.5 million. That’s a bargain for a guy that helped his company earn $40.6 billion last year and can’t hit a 90-mile-per-hour fastball. Look at some of the salaries sports figures and actors command, and yet none have individually produced profits for their employer’s equivalent to over 3,000 times their salaries.

Upwards of 40% of Americans own some form of stock in oil companies, and their share values have compensated them for the high price of gasoline they are paying. Leahy makes about $150,000 and couldn’t run a business without driving it into the ground because he doesn’t understand the most fundamental of economic theories – supply and demand. The oilmen attempted to give him that basic economic lesson, but Leahy and the other liberal Democrat committee members instead wanted to focus on the evil profiteering these men represent.  More from FamilySecurityMatters

Perhaps we should be sending drill bits to Washington with little notes that say “Drill Here NOW”.  Of course, you would have to send drill bits made in USA — no need to further fill the coffers of China by sending theirs…

RTaylor

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June 4, 2008 - Posted by | economy, Politics | , , ,

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