Skip to main content

Exxon Record Profits is Great News!

Despite the fools in the media, and all around the country, that may be calling Exxon's record profits "absurd" and "profiteering," allow me to do a quick Economics lesson 101. Profits attract competition. Competition brings prices down. Competition improves the market, product quality, and benefits everyone overall. So, why are they complaining? Because for some people, it's easier to complain about the evil corporations, than to know the facts and speak truth. I think people like to complain about this sort of thing out of self-righteous pride.

Taxing the energy industry is NOT going to help anyone. While it will hurt the energy industry, the true victims will be the consumer, who will face higher prices. Let Exxon enjoy its profits. I would welcome further deregulation, encourage further competition, and facilitate the building of new refineries. Let's send the extremist enviro-nazis back to the looney bin they came from. Maybe then we can start seeing some progress in this nation in the area of energy. It is absurd to me that in a modern, creative, nation as ours, we are having so much trouble getting low-cost energy. It certainly is not the energy company's fault.

Put the blame where the blame goes--over regulation motivated by extremist environmental interests and socialist-based ideals. They don't work, and they don't help anyone. It just doesn't make sense.

Economist Carol Dahl, an energy economics professor at the Colorado School of Mines commented in a Friday Denver Post article saying, "If you have a commodity in short supply, and if you let the market function, that will raise prices and help allocate supply. It's a way for the market to get to equilibrium."

In other words, what she is saying is that if it wasn't for the higher prices, you would be getting long lines at the pump, and shortages all over the country. The energy companies did their job, the price fluctuations did their job, and as a result, there was little-to-no interruption of fuel supply nation wide. That is a good thing and it is how it's supposed to work.

Comments

Popular posts from this blog

Al Cardenas Comments on Univision Democrat Forum

Al Cardenas is Chairman of Romney for President's Hispanic Steering Committee. I got the following email from the campaign. Boston, MA – Al Cardenas, the Chairman of Romney for President's National Hispanic Steering Committee, issued the following statement regarding tonight's Democrat presidential forum on Univision: "Tonight's Univision forum demonstrated once again the consequences that a President Clinton, President Obama or President Edwards would have on the Hispanic community.  Whether it's tax increases for families and the two million Hispanic business owners, socialist-style health care, coddling dictators, opposing free trade with our allies or putting family values last, the Democrat presidential candidates made clear how out of sync their policies are with the best interests of the Hispanic community. Mitt Romney has put in the effort to reach out to this vital bloc, and, after watching tonight's debate

Harry Potter Mania -- Discussion

There is a great discussion going on at WorldMagBlog on the whole Harry Potter mania. Nothing to do with Latinos, I suppose, but I thought I would ad my two cents. A reader commented: I think its interesting how much people want to be in a group that is all connected by some common thread. It says a lot about our desire for homogeny, not always along racial, sexual or religious lines, but also simply based on what we do in our spare time. The interesting thing about Harry Potter fans vs. Star Trek fans is that a vast majority of them are kids who have grown up with the books, or the parents of said kids. I wonder if what sort of effects this will have on them as they get older (and whether or not they will remain HP fans). We live in an obsessive culture. Posted by David B. at July 22, 2005 07:54 AM This is an interesting phenomenon. I would think it is indicative of our society, more than anything else. I tend to agree with the idea that it shows a desire or need for communi

Communism: Good Money for the "El Viejo"

I guess Fidel Castro is doing ok . Forbes lists Castro as one of the richest in the world, right up there with the Queen of England. I bet he didn't like the attention. It was hard to figure it out, but it seems they managed to throw some numbers together. In the past, we have relied on a percentage of Cuba's gross domestic product to estimate Fidel Castro's fortune. This year we have used more traditional valuation methods, comparing state-owned assets Castro is assumed to control with comparable publicly traded companies. A reasonable discount was then applied to compensate for the obvious disclosure issues.