OBAMA
Dear Oil Company Executives:
I am quite sure I warned on this blog within the last couple years that unless you took action to reduce gasoline costs - the government would take steps to nationalize you.
You have now witnessed the semi-nationalizing of banks and financial institutions, the call to tax and or take-away the bonuses of AIG executives (by the president and his congress not to mention the American people - all unconstitutional after the fact) ... and now, new efforts by Obama to regulate and control industry and institutions.
Your industry is on the list. Your companies have simply not broken through into the public sphere as yet, but you will, when prices rise and your bonuses / profits are announced.
You should be very worried. VERY worried.
Now, here is a suggestion to mitigate the efforts to roll-over you by government:
- bonuses: 10% of what you have received. The rest remains in company accounts for reinvestment. You receive a modest percentage for the 'loan', and you will collect your 10% thereafter PLUS the savings/loan percentage. These 'loans' will not be repaid to you, but you will collect the interest on them for 7-8 years, after which, you will again be permitted to take the full amount or remain at the 10% level and collect the interest.
- the profits your companies make must not be publicized. How to accomplish this? Redefine when something becomes a profit. Like gross and net salaries. Reinvest, build new plants, invest in new energy sources, new searches for oil in shale ... much of which will be a loss, BUT allows a write-off. Write-off losses and deduct investments BEFORE you announce profits. That should solve that issue, especially if you are very careful about amounts invested.
Why am I wanting to help an industry I could care less about? because part of the answer to saving yourself is LOWER gas prices. If gas prices were $1.50 a gallon, the public would be less concerned about your multi-billion dollar profits. Further - we all know that none of the OPEC countries pump what they say they will (what their cartel authorizes) - therefore, there is 15-20% more oil on the market than they say. Our reservoirs are filled, your refineries are filled, ships sit filled off shore rather than to receive a lower price for the oil [This is interesting. When oil goes up in price, gas prices go up that very second, even though ships transport oil bought at lower prices. UNLESS the ships buy it at lower prices and sit off shore waiting for the price to go up. You are getting it both ways and this is in large part why we, the people, who will, eventually own your companies, why we hate you so much.] Give up some of this control.
Lower gas prices to between $1.60-$1.75.
Reinvest your profits.
Lower your bonuses.
Do the above 3 and it will ward off government take-over of your industry.
Fail to do so, and as powerful as your industry is, Obama and his nation will run over you like you're all speed bumps.
And no one, including me, will care much.
My greater issue is, I don't want everything nationalized because Obama, as a socialist, thinks they should be.
Obama
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