Meb452m's Blog

ABC's Roundtable, oil and energy. It was intresting, of the four comentators, two were liberal Democrats, one a Republican, and one speaking in behalf of the oil industry. First the Democrats blame the current situation on a lack of an energy policy for the last eight years , that answer probably sounds good and will satisfy a Bush- basher, but what about those of you that actually have a brain and can use it ? The first Arab Oil Embargo was in the 70's and pointed out a fundimental weakness in our economy and defense that far back, was that Bush's fault as well ?  The Republican party is trying to streamline the permitting process for nuclear, and fighting Democratic obstructions as well. The Democratic responce is that wall street will not invest in " new " nuclear and capitalism is to blame. This is a classic case of a Democrat lying his blame elsewhere. Nuclear would be invested in if it were allowed, currently lawsuits and regulations can tie construction up 20 years. Can anyone afford to invest in something where " NO RETURN " can be expected for at least 20 yrs. ? Democratic objections to new drilling are that 80% of Federal lands have been made available and have not been fully utilized. The oil representative states that : on that Federal land 280 test wells have been drilled at a cost of $1 million dollars apiece, 21 were found to have hit oil. It requires further testing and a considerable amount of money to see if there is still enough oil there to economically recover. Democratic responce  to those " FACTS "- nun, I guess that without considerable time and counsel from others a good " LIE " or " FALSE FACT "cannot be produced. Once again the Democrats cry about Exxon/Mobil's $ 40 billion dollar profit, once again the fact that that return was from a total sales of $ 404 billion dollars was omitted. The Democrat ( communist ) then claimed that Exxon was not doing enough to invest in alternate energy, stating the Exxon/Mobil spent $ 32 billion of that profit to buy back stock.  That in my belief is a sound strategy, it allows : a better defence against hostile takeovers, frees money up to invest rather than pay dividends, and makes steering a corporation easier.  What the Democrats also didn't mention was the cost that their Congressional Inquistions and the Oil companies legal fees add to your energy prices. AMAGINE THAT !

Any thoughts ?