June 14, 2008 -- Who's writing John McCain's campaign speeches - Michael Moore?
You'd think so, from the over-the-top rhetoric McCain used on Thursday night at Federal Hall, ripping into the nation's oil companies.
"I am very angry, frankly, at the oil companies," said the presumptive GOP presidential nominee. "Not only because of the obscene profits they've made, but their failure to invest in alternative energy to help us eliminate our dependence on foreign oil."
McCain also wants a "thorough and complete investigation of [oil] speculators."
Geez, where to begin?
OK, why should oil companies be investing in "alternative energy?" They're in the oil business, not the windmill business, for Pete's sake.
"Obscene profits"? To be sure, they're eye-popping in absolute dollars. But ExxonMobil's $40 billion in profit last year was based on $404 billion in sales - a fairly pedestrian 10 percent margin.
Industry-wide, profit margins average a realtively anemic 8.1 percent.
Speculators? They've likely played a role in the dizzying run-up in oil prices - but what's really driving the market is intense global demand and tight supply.
And McCain and his Greeniac buddies in Congress are in no small way responsible for that.
They've blocked exploration and drilling offshore and in any part of the Arctic National Wildlife Refuge - likely repositories of some 100 billion barrels of oil and hundreds of trillions of cubic feet of natural gas.
Just the news that America's domestic energy sources were finally being tapped surely would discourage those "evil" speculators, and lower the price of crude. That, in turn, would help strengthen the weakened dollar - another reason for higher prices.
And it would create tens of thousands of American jobs in the process.
We understand that McCain relishes his reputation as a "maverick" Republican. But his demagoguery on the energy issue is truly disappointing.
How anyone who understands so clearly the necessity for resolutely fighting terrorism can be so obtuse on this equally critical issue is a true mystery."
Come to think of it, maybe McNasty has a point there.
Hollywood studios and top actors make obscene profits as well, and if there's one thing the country desperately needs its places to store prisoners, so why not demand that a small segment...lets say 5000 square feet or so...of each of their palatial homes be used to quarter convicted felons. Diversify them, I say and now!
Sports stars? Good grief but some of them earn (using the word advisedly) tens of millions of dollars a year, for not much of any contribution to society, so lets nationalize these suckers...that'd diversify their asses but good...and use the windfall profits to pay off the national debt!
And lawyers? Be still my beating heart...
Dammitall, John, I do believe you're on to something.
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