Re: [MLUG - DISCUSSION] [politics] Hilllary - Oil Profits

[Mike Miller <EMAIL:PROTECTED>]

On Fri, 2 Feb 2007, Jerry Gamblin wrote:

> Did anyone else see Hillary at the DNC Winter Meeting?
>
> http://youtube.com/watch?v=j1PfE9K8j0g
>
> That seems to be a very socialist statement for someone running for 
> President, dosnt it?


My understanding is that windfall profits have always been taxed in 
special ways and the thing that was unusual last year is that congress 
voted not to tax the oil companies.  Why didn't they do it.

Oil is very special.  It involves all kinds of complex agreements among 
nations and the US government is *very* heavily involved in maintaining 
international relations so that the oil companies can do their business. 
This "maintenance work" includes, but is not limited to, warfare.  It is 
quite alright for the US governmnent to limit oil company profits.

In addition to this, we have the question of who owns the oil.  It was 
created on this planet millions of years ago.  Who should decide who gets 
it?  Well, as you know, that isn't an easy question and many thousands of 
people have died fighting over land and rights and access.  Oil companies 
are too weak and puny to have the power to own the oil.  Ownership has to 
be given to the companies by governments, which are much more powerful, 
and these governments allow the companies to profit to some degree.  But 
to what degree?  That depends on who you ask, and in the US, it is clear 
that today's Democrats and Republicans have different answers to that 
question.

Republicans are supported by energy industry sponsors, so it is no wonder 
that they don't wish to limit corporate profits -- the money is partly 
theirs.  Is that corruption?  Maybe, in a way, but it is not illegal, 
unfortunately.  It is very damaging to our country and to the world.

Mike

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