Stand Up to Big Oil ( Vermont's Communist Senator Sanders , Barf Alert!)

US Senate Vermont News ^ | 30 April 2008 | Bernie Sanders

[Candor7]

Stand Up to big Oil -- 04/30/2008

As energy prices soar and the middle-class continues to shrink, Exxon Mobil has made more profits in the past two years than any other corporation in the history of the world. Last year alone, Exxon Mobil made $40 billion in profits, and rewarded its CEO Rex Tillerson with $21 million in total compensation. (Several years ago they provided their outgoing CEO Lee Raymond with a $400 million retirement package). Chevron, ConocoPhillips, Shell and BP also have posted record profits. In fact, the five largest oil companies in this country have made $595 billion in profits since George W. Bush has been president.

Sadly, as in so many other areas regarding the needs of ordinary Americans, the Bush-Cheney administration has had nothing relevant to say. In their previous lives, both Bush and Cheney were heavily involved in the oil industry. They are far more concerned about the needs of oil company executives than working families.

So with deafening silence from the White House, Congress must act and act now.

There is no single silver bullet that will lower oil prices. The solution rests with action on a number of fronts – both long term and short term.

Long term, we must significantly increase our efforts at breaking our dependency on foreign oil and fossil fuels in general and move toward energy efficiency and such sustainable energies as solar, wind, geo-thermal and bio-mass. In the process, we can create millions of good paying jobs as we reverse global warming, clean up our environment and lower energy costs.

Short term, in order to address the immediate crisis, we need to:

Impose an excise tax on oil companies. The $35 billion in new revenue would fund a six-month federal and state “gas tax holiday.” This approach would lower the price of gas by up to 36 cents a gallon without reducing the Highway Trust Fund at a time when repairs to our decaying roads and bridges are desperately needed. End the “Enron Loophole.” Created in 2000, this loophole exempts electronic energy trading from federal commodities laws. Virtually overnight, it freed over-the-counter energy trading from meaningful oversight, opening the door to excessive speculation and energy price manipulation. We also must regulate the secretive hedge fund industry which has also driven up the price of oil. Some experts believe a “speculation premium” is driving up oil prices by as much as 50 percent. Demand that Saudi Arabia and other OPEC oil-producing countries increase their production and put more oil on the market. Incredibly, Saudi Arabia is producing less oil today than it did two years ago. Experts believe that Saudi Arabia alone has the capability to increase oil production by 1.8 million barrels a day. The U.S. also should work to end the OPEC cartel which, in my view, functions in violation of international trade rules by illegally colluding to limit oil production and drive up prices. The exploding price of oil is expected to increase OPEC’s crude oil export earnings by $300 billion this year to a record $980 billion. Stop the flow of oil into the Strategic Petroleum Reserve and immediately release oil from this federal stockpile. With the Reserve at 97 percent of capacity, the release of oil into the market will send a strong signal to the industry that the U.S. government is serious about lowering oil and gas prices. This strategy pushed down oil prices during the administrations of George H.W. Bush and Bill Clinton. Goldman Sachs has estimated that continuing to fill the Strategic Petroleum Reserve has increased gas prices at the pump by as much as 25 cents a gallon. Let me be clear. Despite support from many members of Congress, it is not going to be easy to pass any of these initiatives to lower gas prices. Since 1998, the oil and gas industry has spent $616 million lobbying Congress. Since 1990, they have made more than $213 million in campaign contributions. Big Oil, hedge funds and the financial services industry also have enormous power in Washington, not to mention a very good friend in the White House.

Nonetheless, if there was ever a moment in time for Congress to stand up to the greed of Big Oil and powerful financial institutions, this is it. The American people are hurting and they’re asking for help. Let’s respond and lower the price of oil and gas.

[Candor7]

"Burning" Sanders, another Vermont Village Idiot, exploits America's economic travails to further the cause of class warfare,and unAmericanism. He wants Americans to give UP instead of rolling up our shirt sleeves. If he met Joe McCarthy tomorrow, Bernie would definitely shite his little commie jodpurs!

Notice how Bernie mentions nothing about drilling in Anwar? Bernie WANTS us all to feel hopeless and helpless!

Here is the idjits cover letter: ( And Vermonters buy this tripe? BARF!):

************************************

Dear Friend,

Hundreds of Vermonters have contacted my office expressing outrage over the high cost of oil and gas. Workers have told me they no longer can afford to fill up their gas tanks as they travel long distances to work. Older Vermonters are expressing real concern about how they will stay warm next winter with home heating fuel prices already averaging $3.89 per gallon. Truck drivers doubt whether they can remain in business. Clearly, we are facing a national crisis. The crisis not only affects consumers of gas and oil, it has an impact on food prices, small businesses, family farmers, tourism and, in fact, our entire economy. Congress must act now.

Sincerely,

Bernie Sanders

[From The Deer Stand]

Why, oh why, do these morons we put in office not understand that any new tax on business will be paid for by the CONSUMERS? And why don’t they understand that increased costs to do business serve only to reduce employment, new hiring, reinvestment and INCREASED PRICES to the consumer? These politicians have absolutely NO business sense.

[ripley]

it’s all bush’s fault, dontcha know.

(leave it to the brilliant communists in congress. they always have a ready answer, an all-knowing remedy, and if it doesn’t turn out they blame bush. if they had absolute power they would bury their mistakes.)

[Zman516]

I think this is the moment in time for Big Oil and powerful financial institutions to stand up to the greed of Congress and Big Government.

[Conservative Vermont Vet]

"Hundreds ofONE Vermonter have HAS contacted my office expressing outrage over the high cost of oil and gas. (SEE TAGLINE)

"This constituent who identified himself as a Conservative, informed my staff that he considered my suggestions highly hypocritical and disingenuous, in lite of the fact that I have done everything in my power to block any new drilling; support the closing of Vermont's one nuclear plant; has/continues to favor any and all Global Warming initiatives, etc., while deigning to tax big oil, which would simply be passed on to the consumers as would accomplish nothing toward achieving independence.

All true and I did.

[ronnie raygun]

I heard today that big oil gets 8 cents a gallon while government taxes on a gallon is 60 cents, who is the real criminals here? At least with the 8 cents we get exploration, drilling, and refining. Liberals answer to big oil and corporations in general we will tax you until you decide to take your business elswhere. The death of capitolism is thier main objective

[ought-six]

Socialist Sanders of course doesn’t mention that those profits are GROSS profits; wonder how much he’ll change his tune one he sees what the NET proft is after these corporations pay out for opeating expenses, R & D, salaries, pensions, not to mention taxes.

[Candor7]

FACTS ON FUEL

Taxes add a significant amount to the price of motor fuel and vary widely by state. For the first quarter of 2008, the average state gasoline tax is 28.6 cents per gallon, plus 18.4 cents per gallon federal tax making the total 47 cents per gallon. For diesel, the average state tax is 29.2 cents per gallon plus an additional 24.4 cents per gallon federal tax making the total 53.6 cents per gallon. See map below for more details..

[Candor7]

ATTA GO !

[USMA '71]

Bernie - my advice for you is quite simple...eat $hit and die. Every breath you draw is a waste of good oxygen.

[Loyalist]

The same media that rushes to report “Oil companies earn record profits” somehow never reports “Oil companies pay record taxes.”

[count-your-change]

The price gouging on maple syrup must stop. Families are hardly able to afford the $40 to $50 a gallon price. Vermont must be investigated now!

[bubman]

and how their pension plans will benefit as well

[Bringbackthedraft]

Burning” Sanders, another Vermont Village Idiot ................... Nope, he was originally a bright student from Brooklyn, 11229. The political mind set of the area was brought with him to Vermont.

[preacher]

Source: http://www.energy.ca.gov/gasoline/margins/index.html

Comment: If "Big Oil" didn't make any profit, the price of gasoline would barely be affected, maybe 5 to 15 cents out of $3.50.

[garyhope]

Gas is $8 a gallon in Europe and they're still driving, still alive and still functioning. I don't know how, but,...

So lets get “small oil” and small airlines with aircraft made by “small aircraft” run by “small computers” with CPU's made by small Intel.

See if small oil can get oil out of the ground, transport it, refine it and sell it to you cheap.

We could all go back to a hunter gatherer society, ride horses (except for that awful poop problem everywhere), cook on wood fires, make our own clothes, do our own surgery and health care.

Remember “The Great Leap Forward” in China with people making steel in their backyards? That worked didn't it.

How much did it cost to build a fab so that we can have lightning fast CPU’s and ram? Make that in your garage. I don't think so. Make the servers and connections for the Internet at the little shop around the corner. That'll do it.

Bernie, it's called economy of scale and it makes things a lot better for many or most of us.

No more log cabins and subsistence farming for me. No thank you.

Get real Bernie. Grow up.

[ProtectOurFreedom]

Perhaps he would rather have the energy industry become like the airline industry? Warren Buffet says the airline industry as a whole has not netted a dime since 1903. Data from the International Air Transport Association shows airlines around the world have lost $5 billion since 1982.

Yes, I’d much rather have all the energy companies be in such a negative hole. That really funds exploration, recovery, new technology development needed to harder-to-capture sources, and attract the top talent needed to produce and refine.

You have to wonder how such moronic people ever get elected.

[garyhope]

Not to mention the $120 a pound (or more) Spanish ham.

And it’s not even indicted!

[GeronL]

didn't Obama promise a place for Al Gore in his cabinet? did not Al Gore call for $5 a gallon gas to save the environment?

Dems should be happy that gas prices are as high as they wanted

[mvpel]

What Sanders doesn’t seem to realize is that if he cuts XOM off at the knees, he deals a major blow to the retirement savings of Vermont public employees, the retirement fund for whom holds tens of millions of dollars worth of XOM stock.

[Fresh Wind]

Comment: If "Big Oil" didn't make any profit, the price of gasoline would barely be affected, maybe 5 to 15 cents out of $3.50.

True in the short term. But, if you take away the profit, what reason would the oil company have to stay in business? The need for oil wouldn't decrease, so what would replace the oil company?

Yep. The Government.

Funny, isn't it, that the same leftist idiots who criticize the military for "botching" the Iraq war are the same idiots who think that the Government will do a fine job once it takes over the energy and health care industries.

[count-your-change]

I think that price is just for the kosher hams. Not sure though.

[HenpeckedCon]

It’s amazing that B. Hussein Obama has a more liberal voting record than an unapologetic socialist.

[Candor7]

Do you think Obama would pick Burning Sanders as a running mate?

Well they both have this in common: completely divorced from any reality that we on the planet earth know of.

[HenpeckedCon]

Sure, B. Hussein could use a “moderate” like Sanders as his veep.

[garyhope]

LOL, Kosher ham, ROFL, I get it. Finally and belatedly. DUH. Thank you. I'm so goyish, I eat matzoth with peanut butter and jam. I hope that's not sacrilege.

Here's a link for Spanish Serrano ham which is currently around $160 a pound and they want you to buy a whole 13 pound ham at a time which is $2,080!!

At $10 an ounce, it's still cheaper than gold.

http://www.luxist.com/2007/08/22/alba-quercus-reserve-worlds-most-expensive-ham/

[count-your-change]

” At $10 an ounce, it’s still cheaper than gold.”
And digests at the same speed.