I was just reading an article from Reuters about the congressional grilling of oil executives. One of them produced a pretty laughable quote:
"Imposing punitive taxes on American energy companies ... will discourage the sustained investments needed to continue safeguarding U.S. energy security," Exxon senior vice president Stephen Simon said in testimony."
Oil companies don't safeguard U.S. energy security. They produce and sell oil, at a profit. Expecting oil companies to safeguard anything but their own profits is ridiculous. What's needed for American energy security is reduced dependence on foreign oil, and expecting the oil companies to help with that is on par with expecting drug dealers to run rehab clinics.
Comments (1)
Good comment!
As a former U.S. Army man, I never once in thirty years of military sevice saw an oil company exec in a foxhole!
Posted by Michal Robinson | April 4, 2008 3:48 PM
Posted on April 4, 2008 15:48