Yesterday, I chanced upon a television which was broadcasting this fine piece of speechifying by President Obama. Bear in mind, that when he was elected President, I promised myself that I would not fall victim to the same sort of derangement syndrome that so many on the political left were guilty of while George W. Bush was President. I have tried to be fair in my analysis of this man, and gosh darn it, he just makes respecting him impossible. This speech, all eight minutes of it is a great illustration as to why.
Right off the bat, he tells a tale of how our legislative representatives are faced with a choice of standing with the, “big oil companies,” or with the poor down trodden citizens of America. I am tired of this type of demagoguery. All the, “big oil companies,” do is to provide hundreds of thousands of high paying jobs and produce a product that improves every aspect of every life in America and many lives around the world. Their product is in fact so useful, that many in our nation have begun to describe it as some sort of Constitutional Right, when in fact, it is a product, which is produced like any other.
In his next breath, Barack Obama decided to tell me that oil companies are raking in big profits, and as you may have guessed, I have a problem with his statement both factually, and in the tone he used. Oil companies are not raking in big profits, they are earning them. I am not an expert on the oil business, but I believe there is much more to it than raking in. Drilling for oil, from the movies I’ve seen is rough work, and hard. After the stuff is extracted from the ground by people who have worked very hard to do so, it must be transported somehow to a refinery. I bet that those people work hard as well, and deserve to be paid for that service, just like the roughnecks who got it from the ground in the first place. It must be refined, which I am sure involves people working hard, and then transported again, by even more hardworking Americans. On top of that, the company who is selling the oil had to bet a veritable fortune of their own capital on each and every well that they drilled. If the well did not produce, there is no government in the world who would have paid their losses for them. Add to that, the small fact that the revenues that any company produces is a measuring stick in our economic system for how much they have benefited us all, and this statement becomes one of the dumbest I have ever heard.
The next lie has to do with tax payer subsidies for oil companies. Yes, for all of you on the left, I called the statement a lie, as this is something that President Obama knows. The government has never written a check to an oil company to subsidize anything. What our Teleprompter in Chief is referring to are the legal tax deductions that oil companies, just like every other American business, take when filling out their tax returns. He has called all of their legal deductions, subsidies. But, for anyone who is interested, here are the facts on those supposed subsidies. Just as an FYI, the oil industry as a whole pays the second highest rate of taxation of any American business. Tobacco companies are the only businesses which pay a higher rate. He went on in his speech to lie about this fact as well.
He talked about how the oil companies are making record profits from an increase in prices, but he neglects to state why. Every business strives to seek a return on their investment, which is measured as a percentage of the revenue that they keep. For oil companies, their margins are in fact the lowest of any industry in existence. Factually speaking, they make about $.03 per gallon sold. The government in contrast, which by the way does nothing to help extract, transport, refine, transport, or sell, makes $.44 per gallon sold, a profit which is 14.667 times greater than the profit made by the people doing the actual work. What Pinocchio Obama also fails to mention is the fact that oil companies also reinvest that money back into their company to fund research into things like alternative energy, and better and safer technology with which to extract oil more efficiently.
Then Barack Pinocchio decided to travel down the path to flat out deception. Domestic Production is up in our country, but that is in spite of Barack Obama’s efforts and not as a result of them. Private land being leased by oil companies in North Dakota, Pennsylvania, Ohio, Texas, Oklahoma, and in other places have accounted for the increase. It takes a special kind of person, completely devoid of any integrity, to pose for a photo op in front of pipeline building equipment for a project that he so vehemently opposed, and tried to shut down. Barack Obama in this little piece of his speech is spiking the football over the Keystone XL Pipeline, something which he still has not signed. The southern portion of the pipeline was already started under President Bush, the guy that Little Barry blames for everything. There literally are no words adequate to describe just how disgusting a human being Barack Obama truly is.
So, then we get to the nub of it, right around the 4 minute mark, investments in the, “green fairy,” once again. Rather than allowing a business to operate which has a proven track record of success, and by the way has made all of our lives better, why not instead put the majority of our resources into something that Obama likes, and something that would help his political allies profit from? He states the green technologies have never been more promising. What exactly is that promise that he sees in wind and solar? Was it the half a Billion we lost on Solyndra? Is it the fact that not a single company he touted or gave money to in the first stimulus has survived the 3 years of his Presidency, and in fact have lost money despite the federal gift of millions, all of it at our expense? The Chevy Volt can’t go from here to there without bursting into flames it seems, and every other nation in the world who started down this idiotic path has already ran their morons out of town who inflicted it upon them. Is that what President Obama finds so promising about the, “green fairy?”
I have never known another human being with the ability to say as many things which are just flat out wrong with the arrogant level of confidence that Barack Obama has. His statement that gas prices are only low when the economy is doing badly may be the stupidest thing any human being has ever said. Keep in mind that Richard Gere, George Clooney, and Debbie Wasserman Schultz still walk the Earth. Gas prices have spiked not due to any economic conditions which the President has laid on the table, but entirely this time due to the purposeful inflation of our currency, inflicted upon us by himself and Ben Bernanke. Higher gas prices was one of his stated campaign promises, as a necessary, “price signal,” to get us to want his hybrid cars and windmill technology. One of his major goofs of course, besides his bizarre belief in sticking the nose of government into the free markets that have made us an unparalleled economic success, was the not so small fact that the promised, “green fairy,” technologies are no where near capable of meeting our energy demands on even the tiniest scale. They aren’t there after having been pushed by massive government subsidies in place since the 1970’s, and they won’t be for many decades to come.
Then we get to the money quote, “we can’t just drill our way out of this problem.” This makes me mad for two reasons. The minor reason is that this idiotic line is being delivered by a man who has done not one single productive thing during his entire life. What on Earth would Barack Obama know about what would and would not work in any context when it comes to business, economics, productivity, our pricing system, or in any market place? He has never run so much as a lemon aid stand. The major reason why it angers me to hear this oft repeated statement of course is that we can just simply drill our way out of this problem. Part of the issue with using slick sounding catch phrases and nifty slogans for our political discourse is of course that more often than naught, they are simply incorrect.
5 minutes in, and we get that horrendous, “we only have 2% of the oil but use up 20%,” nonsense. Putting aside for the moment that this is complete baloney, a lie, a fabrication, and quite possibly the most egregious piece of bull shit since the peak oil theory was postulated by Marxists in the 1970’s, who cares? What ever oil we use in this country is used for the purposes of getting to work, building products that benefit all of man kind and was rightfully purchased in what ever market place in which it was sold. We grow food with that oil that quite literally feeds the entire world, and even if we produced not one drop of oil here, that does not lead to the moralistic nonsense that we are not allowed by the oil deities somehow to purchase it. There is no law or belief any where that says we should only use what ever we can find within our own borders. Nations have been trading goods and services across their borders for millennia, and suddenly oil is the only thing that stirs up moral outrage. Spare me the idiocy of the political left, and nothing highlights that idiocy quite like the moronic statement which led off this paragraph.