Monday, August 04, 2008

Pandering Politician Praises Profound Profits

House Minority Whip Roy Blunt (R-MO) gushed over ExxonMobile's record oil profits of nearly $12 billion in the second quarter of 2008. Roy noted small guy Exxon, "the 14th biggest oil company", had a "Little Engine that Could" quarter.

"So in all likelihood, the 13 companies bigger than them made a whole more money than that, and that all went somewhere besides the United States."

Bull Hockey! Roy purposefully mixed apples to oranges in relaying the corporate, focused-grouped line. Exxon may be down the list in size of reserves, but for three years it stood alone atop the worldwide profit mountain. Guess who has the most oil reserves? It turns out the target of American military might, Iraq is #3, with only a fraction of its fields under development. The current focus of Israeli bravado, Iran, came in #1.

One market has been cleared for Exxon, another awaits. Roy's compadre, VP Dick Cheney, indicated he wouldn't speak at the Republican National Convention. Want to bet, Shooter is busy containing Iranian blowback from Israel's pre-emptive strike on their nuclear facilities? If so, the able Sen. Joe Lieberman and Rep. Eric Cantor, with their Jewish roots, can speak on the Veep's behalf. Meanwhile, the "Drive Less, Pay More" public endures the political theater of Roy's counterparts promising "Drill Now, Pay Less." Even Rep.Tim Walberg (R-MI) called last Friday's stunt "a performance".

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