Oil executives from many of the major corporations testified before congress this week as part of an investigation on the high cost of oil and gasoline and the profits the companies are making, including the multi millions these guys are making. Talk about a waste of time and government money. What we usually hear is that the high costs are being passed on to the consumer, but then again some of us can see the truth with the companies making $36 billion in profits during the first quarter of this year alone. So what was this going to accomplish? Nothing... but elections are coming up and this way politicians can claim they are doing something to help the little guy while really just wasting more tax dollars.
The executives were quick to point out that they spent billions to find and produce more oil, and tried to talk about tight supplies and growing global demand.... but in reality its just a matter of the companies making lots and lots of money. Sure executives had excuses about profits now versus investments later and they place blame on government restrictions and taxes... come on, who didn't see that one coming?
One Senator asked, "Is there anybody here that has any concerns about what you're doing to this country with the prices that you're charging and the profits that you're taking?" After a moment of silence one executive said, "Senator, we have a lot of concern about that. And we're doing all we can to put downward pressure on prices." At which point I burst out laughing. Really want to solve the problem? Stop using oil, then companies will have to cut prices and eventually lead to new problems of them having to get rid of tons of employees. In the end, executives will still make millions and politicians will still waste time and tax dollars on useless hearings.
In International News
South Africa has seen a surge of anti-immigrant violence, crazy no? Well for the first time since the end of the apartheid in 1994 the military is going in to fix the problem. I'm not quite sure how this is a good idea... but I'm not running South Africa. (Yet) The target of the attacks has been Zimbabweans, Malawians, Mozambicans and those from other neighboring countries who came to the country looking for work. Doesn't this story sound familiar? I'm some what amazed we haven't had any anti-immigrant violence here in Texas!
Witches and wizards wacked in western Kenya. Hundreds of young men gathered together to beat and burn, and in some cases slice, 11 people accused of witchcraft. One local said, "The villagers are complaining that the wizards and witches are making the bright children in the community dumb ... These witches are not doing good things to us." Odds are nothing will happen to those involved as villagers have refused to identify the people who carried out attacks. Perhaps we should accuse oil executives of witchcraft and see what happens?
Israel and Syria are holding peace talks through Turkish mediators. Who would have thought that would happen, especially without a major war first? Government statements say, they "have declared their intent to conduct these talks in good faith and with an open mind," with a goal of reaching "a comprehensive peace." The White House was dumb-founded as was former President Carter who is expected to try to take credit for this. Meanwhile, rival Lebanese leaders are also talking peace, and signed a deal in Qatar to end the political conflict that has been ongoing for the last year and a half. Peace in the Middle East? Or more problems from a stronger Lebanon?
Science In Our Lives
Stop smoking, start having seizures? Pfizer Inc. has made hundreds of millions since developing the anti-smoking drug Chantix, but a recent report cites hundreds of problems including dizziness, loss of consciousness, seizures, and abnormal spasms and movements. So the FAA has banned the drug, and I wonder why more people haven't since the report says, "We have immediate safety concerns about the use of varenicline (Chantix) among persons operating aircraft, trains, buses and other vehicles, or in other settings where a lapse in alertness or motor control could lead to massive, serious injury." Meanwhile the U.S. Public Health Service mention links to depression and suicidal behavior, but recommend doctors prescribe the drug because it is the most effective at helping people get off cigarettes.
Wednesday, May 21, 2008
Big Oil, Big Money, Big Lies
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