The right wing republicans and journalists that have been promoting the tax and health care tea parties have no kick, nor do those that participate. Their rhetoric toward President Obama has been vile and un American. They share a problem with all those who oppose health care reform but not to the same right wing extent.
While Congress is debating health care and the regulation of financial institutions, the special interest groups sponsored by lobbyist and corporate America are spending billions of dollars on advertising and campaign contributions while Congress is debating the matter. They even lie in their advertising but the tea party supporters are silent to this buying of congress. Does the public really understand what has been taking place in our system of government? The people who are buying Congress are being given a free ride. We have already experienced first hand how the misuse of wealth has created the terrible economic conditions the country is faced with today.
The actions of the conservative right wing should be of great concern to all Americans because they want to see America fail under the Obama administration at all cost, even if it means more economic hardships for the people. It reminds me of the hatred the right wingers in Dallas openly displayed for President Kennedy on the day he arrived there on November 22, 1963.
The people need to think hard about what is happening. The future is on the line.
Friday, December 18, 2009
Exxon-Mobil Purchase of XTO Energy
Exxon-Mobil the worlds largest publicly traded oil company has agreed to purchase XTO Energy for $29 billion according to a report out of the Associated Press. XTO claims about 45 trillion cubic feet of natural gas much of it trapped in shale formations which Technology has made much cheaper to produce.
Exxon-Mobil is counting on natural gas to replace coal and other types of fuel to lower the environmental impact those other fuels have on the environment. Congress should step in and deny this purchase. If this buy out is allowed to go through it will allow Exxon-Mobil to eliminate competition and that will cause higher prices for the consumer.
Exxon bought Mobil in 1999 for $75 billion and that buy out did not result in one additional well being drilled or produced of the combined two companies. It simply eliminated competition, was a factor in $150 barrel oil and produced record bonuses for Exxon-Mobil executives. The major companies like Exxon-Mobil want to dominate the natural gas industry to keep prices high. Natural gas closed on 12/15 at $5.42, not long ago it was over $13. They want to get that price back up to take advantage of invironmental concerns so the big boys will continue to eliminate competition.
Boone Pickens, the oil man who spent lots of money advertising his wind farm idea to produce electricity and natural gas to run automobiles has for now shut down that project because he said the price of natural gas is too low. Remember this is the same Mr. Pickens who said gasoline should be selling for $4.00 gallon. Can anyone remember when natural gas was $13 and the fuel surcharge passed along on your utility bill was greater than the charge for the use of the utility.
XTO's chairman and founder Bob Simpson who retired as CEO in 2008 was compensated to the tune of $53.5 million last year, one of the highest paid executives in the United States the report also stated. The Congress can not let big oil do to natural gas what they have been doing to the price of oil and gasoline. Those people will create shortages when ever they want too and manipulate the price.
It is more important for America to go green more than ever before with alternate fuels. Congress should see to it that the oil and gas industry, the banking industry and the financial industry should not have the power of monopoly.
Exxon-Mobil is counting on natural gas to replace coal and other types of fuel to lower the environmental impact those other fuels have on the environment. Congress should step in and deny this purchase. If this buy out is allowed to go through it will allow Exxon-Mobil to eliminate competition and that will cause higher prices for the consumer.
Exxon bought Mobil in 1999 for $75 billion and that buy out did not result in one additional well being drilled or produced of the combined two companies. It simply eliminated competition, was a factor in $150 barrel oil and produced record bonuses for Exxon-Mobil executives. The major companies like Exxon-Mobil want to dominate the natural gas industry to keep prices high. Natural gas closed on 12/15 at $5.42, not long ago it was over $13. They want to get that price back up to take advantage of invironmental concerns so the big boys will continue to eliminate competition.
Boone Pickens, the oil man who spent lots of money advertising his wind farm idea to produce electricity and natural gas to run automobiles has for now shut down that project because he said the price of natural gas is too low. Remember this is the same Mr. Pickens who said gasoline should be selling for $4.00 gallon. Can anyone remember when natural gas was $13 and the fuel surcharge passed along on your utility bill was greater than the charge for the use of the utility.
XTO's chairman and founder Bob Simpson who retired as CEO in 2008 was compensated to the tune of $53.5 million last year, one of the highest paid executives in the United States the report also stated. The Congress can not let big oil do to natural gas what they have been doing to the price of oil and gasoline. Those people will create shortages when ever they want too and manipulate the price.
It is more important for America to go green more than ever before with alternate fuels. Congress should see to it that the oil and gas industry, the banking industry and the financial industry should not have the power of monopoly.
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