Thank God for Big Oil

Lots of tongue clucking over Exxon Mobil's $10 billion quarterly profit and the company's $36 billion dollar year.

Lots of people willing to say they're gouging us and the profits only prove it.

This is where some people stand up and say it's time to tax their windfall profits, teach them a lesson for charging us so much for gasoline and heating oil and natural gas to run power plants.

Not me.

I say thank God for big oil.

It's big oil that brings us gasoline and makes certain we are warm and toasty.

They charge us money, yes. But the fact that they make profits is why they can invest in bringing us more oil — which we need.

Even The L.A. Times — no right-wing operation — opined Wednesday that it would be wrong to gouge Exxon.

The Wall Street Journal also pointed out an interesting fact.

The real profit Exxon made was $80 billion — twice what they were allowed to keep and reinvest. Half that $80 billion was the profit and the other half, $40 billion, went to the federal taxman.

It worked out nicely for the feds, which is us. Exxon got $40 bil and we got $40 bil.

I say Exxon should have another banner year next year and we should all hope it does.

Yes, I know there are Americans being hurt badly by high gas prices.

And those Americans should blame the Saudis and the Venezuelans and the Canadians — everybody who supplies this country massive amounts of oil and who really do set the price for a barrel of oil, which in turn sets the price you pay for gasoline.

Remember when during the Clinton administration oil was $8 or $9/barrel? Gas was just over a $1?

Now it's up nearly 10 times per barrel but only three times per gallon. And you think you're getting ripped off?

The president talked about alternative energy resources because we're addicted to oil, to use his phrase.

That's true.

Maybe those nuclear power plants are looking better, huh?

I don't want to have the Homer Simpson nuclear power plant, but don't forget we don't have to buy that stuff from a foreign country.

That's My Word.

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