Daily Kos

Why is this okay? $55,000 a minute!

Tue Jul 25, 2006 at 11:46:01 AM PDT

Why is it okay for oil and gas to be at the highest levels in years, the highest EVER-- and yet for BP to be making $55,000 a minute profit for the past year?

Why would our President think it is okay for oil companies like BP to make 30% HIGHER profits than they did last year-- about 1000% the cost of living adjustment your average American gets in his or her wages if they rise.  30% higher profit-- most of it a boon to only a few executives and high shareholders of the oil company.  

Here's the link; more on the flip:  

http://www.nytimes.com/...

Do you earn 30% return on your investments, or on your savings?  Do you get a 30% raise when you get a raise each year?  If you don't, then why is it okay for you to have to pay for a few rich executives at BP to make 30% profit on the oil you can barely pay for?  The price of which keeps rising with no end in sight?

Why is it okay for us to be paying over $3 a gallon for gas, when we're paying out the wazoo, with no accountability from our government, for a war in Iraq that was SUPPOSED to help lower gas prices and increase gas supplies.... at least, so went one of the rationales the Bush administration peddled back when it was making the case for war three years ago.

Why is it okay for our President to channel obscene profits to oil company executives, when he is cutting money and funding to help the needy, children, the injured, veterans, and the elderly?

Why is it okay for our government to charge oil and gas companies practically NOTHING to drill on our public lands for oil, when our country has the biggest budget deficit in its history?  

Why is it okay for our President to assert that we should not raise taxes on these obscene oil company profits-- on a WINDFALL IN PROFITS-- when as a country we can barely afford to provide for our essential needs in infrastructure, health and education?

So why, why, why is it okay for BP to make $55,000 a minute profit on oil, when the federal government claims it has hardly any money to put into research into alternative energy sources, and into energy-efficient automobiles?

I just needed to rant and rave about this.  Vent here PLEASE!!!!!!!!!!!!!

Tags: BP, oil, profits, energy, price gouging, drilling, gas, prices, gasoline, fuel (all tags) :: Previous Tag Versions

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