Thursday, July 31, 2008

Liberals Blame Public Corporations for Economic Turmoil

It amazes me at the level of hypocrisy that permeates the very agenda of the Left. While there appears to be a desire to blame the right for everything under the sun and dismiss the fact that the change election of 2006 was undoubtedly the grandest political hoax that has produced what has to be the most ineffective Congress in decades. The left neglects any admission that it was their push for such measures as NAFTA and furthermore forcing Bill Clinton to veto a bill that would have allowed our country to be drilling in Alaska. You will never hear them say that we could now be producing millions of barrels a day from Alaskan resources and even if you take the current arguement of the left that no gain will be realized for ten years regarding current drilling prospects, we would have begun to see oil hit the market beginning in 2005.

The left either needs a wake up to the reality of its own failures in the past or at the very least a remedial course in economics. They blame the oil industry and "Big Oil Republicans" for the current price of oil and hold themselves unaccountable. They claim it is Republicans who extend tax breaks to the oil industry and yet a Congress controlled by the Democrats has yet to offer up a single attempt to revolk such breaks. The left fails to acknowledge while echoeing talking points regarding the acreage of leases oil companies currently hold as the rationale for not opening up more areas that just because an oil company hold the lease rights does not mean they can immediately drill.

Why? The left fails to inform the public that it has been there push for more and more regulations at the State and Federal level like the EPA that create a process of approval that can take upwards of ten to twelve years before an oil company is cleared to drill. Both State and Federal agencies must sign off on standards to be imployed facilitating drilling. Case in point. It has taken Chevron sometimes fourteen years to get approval to drill on sites that it holds leases. You will not get any acknowledgement from the left on the process, but merely that the oil companies hold the lease rights and should be drilling there now and are not. How many areas are currently under review for drill approval I wonder and how long have they been sitting in the process for approval?

Today, the lefts position so artfully articulated by Raising Kaine is that Exxon/Mobil and Republicans are to blame. Surely Lowell Feld, a former Energy Department employee, knows the real truth but isn't ponying up any substance other than the fact that he believes that oil companies should "rot in hell" as he puts it. It states on Raising Kaine's blog that he "has never lived in an oil producing state" which is quite amusing given the fact that due to the efforts of the environmental wing of the Democrat Party 99% of Amercians do not live in "oil producing" areas. In fact, Lowell feld and contributors at Raising Kaine would make Virginia not only forever oil free drilling zone but would also end the mining for coal crippling aspects of the Virginia economy tied to coal production not to say the entire railroad industry.

But hey, only Republicans work for Exxon/Mobil and Norfolk Southern, CSX Corps, and the ports of Virginia sending coal out to meet global demands. Lowell Feld further believes that we should "F**** Big Oil" because oil companies have corrupted the American economy and led us into recession.

Recession? Gee I learned in Economics 101 that a recession is defined as two consecutive quarters of zero or negative growth rates. I wish the left would explain to us when this has happened under George Bush. This quarter growth was pegged at 1.9% and up from last quarter in the midst of rising oil prices and in the face of the largest houding crisis since the Depression. So where is the beef Liberal America? Could it be that the historic nature of business is to have slowing growth every eight years? has this not happened every eight years since Ronald Reagan took office, including Bill Clinton's tenure?Sure the economy is slowing now but this is certainly not a recession, well an economic one anyway. There certainly may be a recession of rational solutions around Washington and Congress in particular.

So whats the rub with Exxon/Mobil? Well of course the Liberal wing want to portray oil companies as the bad guys given the fact that Exxon/Mobil generated 11.7 billion in profits for the latest Quarter. This number is compared to the 10.25 for the same period a year ago so where was the outrage then? With gas prices roughly a dollar cheaper during the same period last year the current rise in gas prices has resulted in an increase of one billion. For a company that did 39.5 billion in 2006 and 40.61 billion in 2007 we are not exactly talking about robbing America in broad day light are we? The idea that the rising cost of gas at the pump translates to huge profits by oil companies is more myth than reality.

I enjoy the theory of how oil companies are to blame, especially since they and of course Dominion Power here in Virginia are always the targets of Raising Kaine as the great evils in the economy because god for bid they make profits. These liberals would prefer that the oil industry be socialized just like healthcare and would probably support throwing the airlines back in for good measure. The forget that the government could not make the airline industry work decades ago and had to turn it over to the public sector. Remember these are the same folks that think healthcare can successfully be administered by the Federal government. We will simply use the French model of heathcare. The funny thing is on the one hand the French healthcare model should be used to solve our heathcare concerns but liberals would never endorse using the French energy model. Why exactly?

Simple. The French generate 80% of their energy from nukes. Thats right 80%. Have there been any environmental hazzards to such a policy? Try and engage a liberal on this topic and expect a quick topic change. Liberals refuse to discuss such energy options here in America because of its "environmental" pillars of its agenda. So while they refuse to recognize this power as an option they simultanouesly push to end all coal mining and production within the America as well. I mean why not clean house right? These liberals have already saw fit to ship virtually our entire steel industry whioch requires coal furnances to produce steel overseas. What they have accomplished is making the largest dependent on coal our electric companies and now they have set their eyes on them as targets. Think the debate over the Wise County plant here in Virginia. Coal and Oil are simply natural progression for the liberals who years ago sought to bring down tobacco in America and have now moved on to new game. Fact is they are not real capitalists, the radical left anyway, and focus on bringing down public industries that they feel are not aligned with their agenda.

This is easily demonstrated in Exxon/Mobil. If you take relative profit ratios, I wonder why it is they are not going after the profits of say Microsoft, Apple, Walmart, HCA, Northrop Grumman and the like. What about MSFT 16.37 billion which was 30% higher than the same quarter in 2006 and have projected revenues of 60 billion for 2008. Apple (the IPOD King) rang up 9.6 billion with 1.58 billion in profits versus 7.1 billion for the same quarter 2007. HCA does a 7 billion Quarter, Northrop 8.63 billion, and Walmart has revevues of only 94 billion.

When you use talking points and you tell the masses that the oil companies are making huge profits off the back of consumers I wonder if put into context people would share the same outrage. I mean a cup of Starbucks is still more expensive than a gallon of gas at Exxon and I wonder just which one costs more to produce and bring to market. And that Ipod. Ranging in price from $100 to $300 I wonder what the profit margin is on those for Apple?

To blame Public corporations for the economic situation in America is simply a ploy by the left to misdirect you from the lack of any substantial solutions coming out of the Democrat controlled Congress. Misdirection for a group thats only solution is to socialize and bring everything under the umbrella of government. With oil prices climbing. the inaction by Congress proves that they would rather sit by and watch average Amercians suffer to simply prop up an environmental policy that is backfiring right before their very eyes. the last thing any avergae American wants to hear about is protecting the environment when they would prefer that Congress protect their wallets and do somethiong to solve the energy issue before our nation.

In fact, radical leftists and liberal like Raising Kaine are simply making global warming and environmental policy the new welfare policy of this century and they seek to use government in the same manner they did decades ago.

The problem is the liberals always manage to forget that when you speak of corporations and you speak ill of public companies you are ultimately insulting Americans that are the backbone of those companies. Liberal for some reason perceive corporations as being simply paper instruments or symbols and not houses to American ingenuity and production capabilities.

But then only Republicans work for such corporations (snark).


Anonymous said...

Alter, great post on principle. The Raising Kaine elite sits in the middle of the biggest irony in that there new candidate, now that they have all but bailed on Tim Kaine there previous golden child since he has moved to the center, and Mark Warner is pro-business. So they support a guy who helped make Virginia a bastion of business out of political expedience. Warner is certainly nothing like those at Raising Kaine. He will use them and their support but much of his platform, outside of talking points to keep the left interested, is counter to many at RK but they will off course jump on just like they did with Kaine.
Another irony is how they claim that "downstaters" owe NVA something because of the tech boom in business that has resulted in the region contributing to the Virginia economy. The irony is there is not a "tech" compnay in the top business for employment in the region. In fact outside of the USDofD it is the liberal bueracracies of local governments like Fairfax, both County and School Board, that employ more workers than private sector. In fact Walmart is the second largest employer and the only real consulting firm that could be linked to anyhting even relating to tech would be Booz,Allen,Hamilton. Another one of the larger employers is Innova Fairfax (Hospital) so collectively I wonder just how many of these "high tech" firms rate in the top 50 Virginia employers.
If ever there is a case to be made that government is too large simply look at the top 50 and it will show you that in fact government entities represent the biggest employers on balance and that is just fine for the liberals who see government as the answer.
Those at RK like Lowell and Green Miles are so radical on the environment that even Kaine has broken from them and their ideology with regard to plant generation and the fact that they feel that technologies like solar and wind are better at producing energy than say the Lake Anna power plant prove they are left of left field. The irony with them on solar and wind is the premise is fine but just do not ask them to support the constrcution of windmills in NVA. They demand we undertake the effort but suffer from "not in my backyard" syndrome as they would never allow windmills and the like to be constructed anywhere near NVA.

SBVOR said...

The data say:
No recession.

Anonymous said...

Exactly. The economy is slowing just like it has every seven to eight years after a bull market starts....its called a business cycle but since liberals care very little for facts or want to admit that it was the policies of Bill Clinton that began this rush to join the "global economy" and care more about the world view than the American reality that would rather have the new model of American economics be based on the European model; increased government by distributing wealth via a socialistic system under the guidance of large bueracratic institutions.

Anonymous said...

So now Obama may be willing to drill in an "environmentally" safe way.
Change is right. The guy is a complete chamealon.
Democrats are proving they care more about and global warming extremists than the do the average Americans they constantly tell us they represent.

Remember the so-called "test" Kerry talked about in 2004. This stuff is no different. Same stuff, new brand name.

Jerry said...

You wrote: "They claim it is Republicans who extend tax breaks to the oil industry and yet a Congress controlled by the Democrats has yet to offer up a single attempt to revolk such breaks."

I don't want to call you just another hysterical right-wing liar who'll write anything to keep people's hate for "liberals" alive, so I won't. However, you might want to research this legislation:

Energy Independence and Security Act of 2007

James said...

Alter, I believe Jerry is referring to the Senate which as you know has faced the filabuster but the imply that the House has realistically attempted anyhting is a leap. I am sure that you were referring to the House.
This week points out to Jerry and the like that the HOuse Democrats are not concerned with solutions, especially during a political season like this one. With a 9% approval rating they must figure it will not get any worse or they are planning on having Obama encourage thyem to return to provide solutions to provide an artifical bump in is influence. These are the games that they play. They have to appear to be in the camp of the far left on the environmental issues but will have an excuse for delivering a drilling package if Obama calls them to do so. All about cover.
George Bush should call them back first in my view and let them answer to the will of the people which 60% support drilling now and freeing up the areas to do so.

Also Jerry may also be an apologist for Obama and doubtfully has any basis here if he has been a long time reader of Alter to make the liar accusation. In fact, liberal blogs like RK and others will not even admit the truth that Obama supported the Energy Bill in 05 by Bush and McCain DID NOT. Another one of those "inconvenient truths" I guess. Energy is the one issue I guess they want to ignore when they shape McCain as being just another Bush.
Jerry the Obama campaign strategists are the "liars" with regard to energy policy and the liberal blogs are the "ignorers" of the record. I had been impressed with Obama and have supported other Dems in the past but like in 2000 will certainly now go with McCain. I thought he would have been the better choice in 2000 and not Bush and think now that he is the better option. Not neccessarily on the past but in the future shaping of legislation which in terms of Energy and Social Security will require a bipartisan leader who has experience working both sides. Obama does not other than a proliferation bill that was a no-brainer anyway.
In fact the biggest "liars" or "two-facers" are those liberals who loved MCcain when he was the Republican Maverick who worked with them on many issues over the last twenty years and now try and paint him as just another same Grand Old Party guy. They seem to have moved passed his cooperation with them to now prefer Chuck Hagel and why?
Because John McCain is the nominee thats why. Pure politics.
And by the way Jerry, the creators of Raising Kaine like Lowell Feld supportered and voted for John McCain in the 2000 primary over Bush, but you will not find that admission in any current post but have to find it in interviews that Mr. Feld has given in the past. But hey he thinks those of us here are all "downstaters" like Alter demonstrates in referring to their posts at RK and are not afforded the luxury of "refining" our views, that is only saved for liberals I guess.
By the way, exactly what has this Congress really accomplished Jerry since 2006? If the results are your idea of real leadership than its no wonder your likely to support Obama in the Fall.

Erik said...

I was in suburban DC the same time you were and can fill in your memory that there were plenty long gas lines!