Skip to comments.Hillary's Big Oil friends
Posted on 09/23/2007 9:45:45 AM PDT by SubmarineNuke
George Stephanopolus interviewed Hillary Clinton this morning. After the LONG interview, there was a Conoco/Philips commercial for its Tyson Renewable project. Conoco didnt mention Tyson by name. They just called them one of Americas largest food processors.
You remember Tyson don't you? Remember Hillary's skilled foray into options trading?
Just so you know what CP and Tyson's "renewable diesel" is about, it's a mechanism for Big-Oil to grab $1.00 per gallon in federal tax credits (a subsidy, for what some people call mixing a little fat with diesel fuel) ON TOP of the huge, HUGE profits that they are already pulling down. That is ONE WHOLE DOLLAR for every gallon they produce....right out of the US Treasury. Our money to make them richer.
I've noticed that Hillary hasn't attacked big oil yet. Oil is headed to $100-125 in the next year folks. Count on it. I'm sure she has a very European like tax in store for us, bringing gasoline over the $6.00/gal mark. Her friends at CP and Tyson will then step in with their renewable diesel. Just why in the hell would CP and/or Tyson need another one of your dollars for every gallon that you purchase?
To be clear, "renewable diesel" is NOT bio-diesel.
Talk about insane, more money for big oil with the help of their friends.
I'm not sure what that means (the fact that Tyson wasn't mentioned by name). The whole point of Big Oils recent spate of political hour commercials can only be to associate their names with the good of all humanity, and that Tyson wasn't mentioned with such politics really says something. Apparently, the Tyson-Clinton political machine is hard at work once again.
The politics of oil money.
Some things never change.
Would you have some links to back up your allegations?
To be fair, I believe that the subsidy is only for the diesel produced from bio-sources. IOW, the raw addition to our present usage, not for the mixed product.
My understanding is that these animal by-products are not presently discarded, but are rather already being used to produce animal feed and for other purposes. (Whether that is a good idea is an entire other discussion.)
Sounds exactly like the “synthetic” fuel tax scam thats been going on for years where electric power utilities spritz just enough diesel fuel on their coal where they can clain it’s magically better and different from plain coal.
The way to make cooking oil into REAL Diesel fuel, that won’t clog the fuel filters, grow bacteria in the fuel tank, or go thick and gummy in cold weather, is to put it into a reflux with methyl or ethyl alcohol, causing the triglycerides in the fat to separate the glycerine and form methyl or ethyl esters, a much more volatile and easily combustable form of fuel. That is why Biodiesel fuel is such a large consumer of ethanol.
Don’t forget that Tom Harkin’s wife, Ruth, is a member of the Board of Directors of ConocoPhillips and will likely be a big Hillary supporter.
I never believed “Big Oil” was synonymous with the GOP alone. The D’craps are as much in bed with the oil companies as the Pubs are. When the Enron scandal broke it initially was supposed to be a Republican issue alone until the truth came out that the D’craps were as much involved with Enron as the Pubs. As for the 100\125 dollar a barrel cost,never mind a recession,I’m thinking more along the lines of a depression !!!
I have no allegations. I’m simply making an observation and commenting on the news. It’s no secret that CP has asked the IRS to comment on renewable diesel’s tax credit worthiness. That was big news back in April or May if I remember correctly. That was the last I read about it. I have been told that it competes with other green fuels and some folks in that arena aren’t happy.
Who knows what the outcome will ultimately be. I saw the commercial, but I don’t have a link to it.
Also, this is my opinion only and it’s anybody’s guess as to what is actually happening.
One thing is for certain, CP is spending real dollars on advertizing.
Without the raid on Syria backed up by the fed cutting a half point crude would not be where it is now. When it turns out that Syria isnt going to retaliate and the fed cut bounce wears off crude will start heading right back to 60.00, perhaps even less. Maybe 52.00.
Then you will see reports from experts predicting colder that normal winter despite being heresy to Lord Gore.
Searching the WSJ and Chron, here is a link to the Houston Chron from August. It looks like the plan is facing difficulty.
Koch Industries collected over $100 million on this scam.
I work for a contract manufacturer that built computers for a few decades. Lately we have seen numerous alternative energy products being prototyped. Watch for a flood of products in the next few years like fuel cells and solar power for your home, and vegetable oil systems for your car.
It will be surprising if oil gets much higher. It won't be surprising for a President Clinton to establish a European style gas tax.
I have been reading more and more on the price of oil going more towards the roof than the downside. I’m certainly no expert, but I read alot.
I was always under the impression that when the Fed makes big ratecuts, the price of commodities soars (in an inflationary environment).
I’d bet it goes up further. Is that Big Oil doing that? No. Do they benefit? Yes and no. If they dont have lots of reserves and/or aren’t adequately hedged, it could be as painful for them as for us. Many things come into consideration. I just look at their quarterlys and annuals. I have’t seen where any of them are hurting (but my next door neighbor certainly is). A few dollars here, a few dollars there....pretty soon you are talking about real money.
BTW, I don’t care if it’s CP, Exxon, Shell or Texaco, they are all reaping billions. I guess in our capitalist world, that’s a great thing.
My bet is that it’s headed north. My wife thinks like you. She is definitely right more often than I, so let’s hope you are both right.
If you’re so dissatisfied with big oil, why don’t you drill your own well and refine your own gasoline? Obviously, you must believe that exploration, drilling, refining and distribution require minimal capital expenditures which should not be recovered and that wells once drilled produce forever and refineries will never have to be replaced. Would you be surprised that the government without investing a penny reaps more rax revenue from oil companies than the profits earned by the oil companies?
I don’t think its a scam. It’s a legitimate enterprise that ‘we the people’ allow our elite masters to exploit.
The only reason I bring it up is because I just get so angry when I think of the massive amount of subsidy going to oil and the politicians playing with us by not allowing oil to drill in Alaska or of the Florida Gulf Coast (just to keep the supply-demand curve in balance).
I believe the truth is that Big oil doesn’t want more supply in our hemisphere. Wouldn’t you want your foreign reserves valued at $80 vs $20 if you were them?
Now with Russia becoming a massive player, I’m interested to see who inflences US foreign policy more in the next few years with a new Presidency, Putin (or his successor) or the House of Saud.
As for the 100\125 dollar a barrel cost,never mind a recession,Im thinking more along the lines of a depression !!!
The 1981 high water mark (inflation adjusted) is $101 bbl. ,,, I agree that oil is going there but haven’t decided on how to play it yet (RIG/XOM/CP ..) ,,, it took the Reagan Tax cuts to save us last time,,, we will need the boost the fairtax will give us plus drilling in all available known deposits....
This fits well with the “inflate our way out of debt” and the housing/liquidity bubble moves we’re starting to see...
So oil companies made no money when oil was $9/bbl? Hell, it was $20/bbl 7 yrs ago.
I’m not upset with someone making money off of my back. I’m upset that with the price of energy today, they need ANOTHER dollar per gallon.
I agree with you re: tax collections, as the Gov’s tax scheme is massive and heinous.
A well producing in a field paid for/off when oil was $20/bbl with a basis of $11/bbl can make big dollars today. I say God Bless Em. I don’t say, “God Bless ya, here’s a lil more cuz I like ya.”
When is enough?
Forgive the rant, but I get tired of mindless whining by frustrated populists. The abuses you allege are the result of big government which invites all sorts of con artists to ply their skills in bilking taxpayers. If government stayed out of business, there would be no need for lobbyists.
Today's high oil prices are in a good part the result of OPEC and other state-owned oil companies. Another factor contributing to high prices is overall increase in worldwide consumption.
Agree completely and totally.
If it stands on its own, let it.
It’s said that we have lots of oil in North America, especially way up there in Alaska (that’s why Russia declared the North Pole as theirs).
Russia will want Alaska back too. Thy won’t need to take it at gunpoint (they’d lose), they’ll take it by paying cold, hard rubles for it. Soon, the ruble will be more valuable than the US Dollar.
Again, just my opinion.