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  Govt- Politics

Poll: Should The USA Nationalize The Oil Industry?

By Professor Emeritus Peter Bagnolo ()     Permalink
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Poll

Poll: Should The USA Nationalize The Oil Industry?

    

Poll: Should The USA Nationalize The Oil Industry?

RECORD OIL PRICES AGAIN!
Among the many who wrote about the release of oil profits information was Julia Werdigier, who says here, "Profits at oil companies this quarter continued to reflect oil prices that almost doubled in the second quarter from the year earlier.

Exxon Mobil on Thursday reported that second-quarter profit rose 14 percent, to $11.68 billion, the highest-ever profit by an American company. Exxon broke its own record."

She, and others went on to report that Exxon Mobil profit was $2.22 a share compared to $10.26 billion, or $1.83 a share, in the year ago quarter.

In addition, Royal Dutch Shell, the largest European oil company, saw a 33 percent increase in second-quarter profit.

She does not say anything much different than any of the others who reported on the profits reports. She appears to be accurately saying what she believes to be the truth, as far as she knows, about oil prices.

Further on, she like some others, goes on to lament that there was a "...13 percent drop from a record on July 11 raised some concern among investors about whether oil companies can keep up the pace of earnings growth. BP said earlier this week that higher oil prices have started to affect consumer demand for gasoline."

The MSM journalists all seemed to simply repeat the material given them, either ignoring reality, or ignorant, unknowing, that the post production price of gasoline, including delivery per gallon, is and has remained below three cents a gallon (Roughly $00.88-$1.49 a barrel. That is 89 cents to one dollar and 49 cents a BARREL) FOR years.

Nor do they mention that the current oil prices may well be fed by three things:
1)-A psychotic commitment by this administration and their friends in the oil business to destroy what remains of FDR'S New Deal.
2)-Payback, reimbursement for the lawsuits and fines after oil spills.
3)-A further attempt to drain the bank accounts of middle class America, which the Bushites see as a detriment in their avowed goal of enslaving the working class, by impoverishing them forcing the younger, healthier ones which cannot find jobs into the "Volunteer Military" so the (Ziek Heil!) Bushites might carry on their Hitlerite, Mein Kampf, and Prescott Bush, inspired Legacy of World Conquest. No, we are not seeing journalism here; we are not seeing editorialists here, we are seeing a customized Xerox copy of what they have been issued to write about.

None of the several articles on the profits even comment on the avarice of charging enough to make record after record at the expense of the American people.

The congress alleged that they were impeaching Bill Clinton over a sex scandal and lying about it, wasn't that it? (We all now know the real reason.) I know conservatives and fascists have never been very good at sex. They have always envied Dems because Dems always seem to find better looking mistresses and have way more fun with them, so impeaching a fellow because you are jealous, that makes sense if you are under 11 years of age, but dirt, cheap oil, which you can sell at the pump, at 25,500 times it's cost, isn't a reason to impeach a president who wouldn't play ball, is it, Naw! 


In Iraq before the "war", the so-called "evil empire," sold gasoline at $00.05 per gallon retail at the pump, to Iraqi citizens, Yes, five cents a gallon. 

In Venezuela, the oil in not so sweet. Because of its viscosity, it costs a few cents more to process out the gunk, so they have to sell it at the inflated price of $00.12 a gallon at the pump, to Venezuelan citizens. 

In Iran and Syria, the President's next targets, oil at the pumps is selling for what a candy bar costs in America. So, there appears to be a formula here; if you sell oil at dirt cheap prices, Mr. Bush, egged-on by his oily bed-fellows, and fellow investors, will attack you and take your cheap oil away to sell at 25,500 times as much at the pump.

So, then, why was ours selling at $4.65 a gallon? What a stupid question, ask the "Christian," "messianic" president that question! You know the fellow (GW BUSH) who when he got into Yale on his daddies "Discretionary Family History at Yale, Points for Ease of Entry", apron strings, allegedly, wrote a paper in which he said, "...the poor are so because they are lazy..." What, then are the middle class, just slightly less lazy than the poor, or just far, far, less greedy than the rich?

It's easy to explain America's high oil prices. Bush would say, "We have to raise the price because the American and Brit oil companies wish to protect their countrymen against deflation, while the Iraqi and Venezuelan government wants to expose their citizens to deflation, isn't that terrible, how they treat their people?" Well, that makes sense if you have a pea brain. Whoops, who else would vote for a Conservative Republican nowadays? Below is a breakdown on what comes out of a barrel of oil. 



What a Barrel of Crude Oil Makes in America 


Product gallons per barrel-the processing in America of crude oil, actually gains a bonus of 2.2 gallons making the traditional 42 gallons into 44.2 gallons. Here is how the 44.2 gallons breaks down 
Gasoline-19.5, distillate fuel oil 9.2 
(Includes both home heating oil and diesel fuel), kerosene-type jet fuel 4.1, residual fuel oil (heavy oils used as fuels in industry, marine transportation and for, electric power generation) -2.3, liquefied refinery gasses-1.9, still gas-1.9 Coke-1.8, asphalt and road oil-1.3, petrochemical feed-stocks-1.2, lubricants-0.5, kerosene-0.2, other-0.3

All of those writing about the profits pretty much wrote as did Ms. Werdigier, so she like they, goes on to state that Exxon profit rose to $11.56 billion from $8.67 billion in the period a year ago. Moreover, that BP was a 28 percent increase and Italian oil company Eni second quarter rose 52 percent. All despite decreased production! In addition, all of the above at a real price of Two and three/tenths pennies a gallon postproduction price including delivery.

All of those whose articles I read used the standard corporate whining to let us know that the poor, poor, "Oil companies are under pressure to find new reserves as their "traditional fields age" They "AGE? What does that mean? She and the others go on to say that the oil corporations are facing, "increasing competition from state-run oil companies in Russia and the Middle East. Russia, where it had to sell its share in the Sakhalin Island oil and natural gas project to state-controlled energy company OAO Gazprom last year." Now that last idea I like, in fact I love it!
On the other hand, here is what a journalist had to say upon receiving the same information.

All of this profit despite, "Oil and gas production fell to 3,126 thousand barrels of "oil equivalent" a day from 3,178 thousand barrels.'

She, like the others, says, "The company agreed two weeks ago to "spend" about $5.9 billion to buy Duvernay Oil Corporation of Canada to increase its gas production from tough rock formations and is in talks with Iraq about some service contracts."

See, she and others used the Oil company lobbying-folks, inspired word "Spend," where even the most unsophisticated speculator, would have used the word "INVEST!"

Understand I am not picking on Ms. Werdigier. Most of those who wrote about the profits wrote pretty much the same things and used some similar adjectives.

Every oil company has made record profits since the war began. Exxon Mobile has broken for several consecutive quarters the world record profit for any company ever, in history. They are on target to make more than $45 Billion in profits this year alone!

Please understand that I am not picking on Ms Julia Werdigier, nor do I believe she is not telling us the truth, as she knows it. I just do not understand why these journalists of the MSM are not questioning the true cost of oil and why their articles are merely a repeat of information released by the oil companies. It seems lacking in any sense that the oil companies may just be feeding the MSM inaccurate profit information. Isn't that what journalists should be doing-questioning sources who release what to some of us appears spurious information at best? Am I wrong?

Well, I have the cure and I wonder if you feel the same way, Right now? Why not follow the true Theologically empathetic method of distribution of necessary products at no profit? Most of the oil producing nations are doing what I have proposed before, why not? So here is my question:

Should all of us be shareholders in the oil industry? Should the USA Nationalize The Oil Industry, sell it at 5% above production and delivery costs, and reduce our taxes because of the reduced price of oil by a factor, which is appropriate?

With that in mind: Poll: Should The USA Nationalize The Oil Industry?

YES!

NO!

YES!
NO!

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Professor Bagnolo has majored in: Cultural Anthropology, Architectural design, painting, creative writing. As a child prodigy, abed with polio for almost two years, he was offered an opportunity to skip three grades at age 8.
Later He was a (more...)
 
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