I’m appalled by the carelessness and indifference of the BP executives responsible for the disaster in the Gulf of Mexico that killed eleven people on April 20, 2010, and unleashed the worst oil spill in American history. But it defies logic to make BP itself the criminal. Corporations aren’t people. They can’t know right from wrong. They’re incapable of criminal intent. They have no brains. They’re legal fictions — pieces of paper filed away in a vault in some bank. Holding corporations criminally liable reinforces the same fallacy that gave us Citizen’s United
In a nutshell, US oil supply to small to effect prices on world market.
A good rule of thumb is that if politicians are talking about the price of gas, they’re talking nonsense. This week is no exception.
O’Reilly and Dobbs were saying that Obama should be taking more coercive action than he’s taking. Against whom? Oil companies. Both O’Reilly and Dobbs emphasized that U.S. oil companies don’t own the oil they think they own. Who owns it? We do, according to O’Reilly and Dobbs. And not we, as in you and me, but we, as in the U.S. government. Dobbs advocated “jaw-boning” oil companies into charging lower prices. He also advocated some kind of government slush trust fund that the oil companies would fund with a special tax. Both O’Reilly and Dobbs got upset about oil companies exporting gasoline. So, based on this and other O’Reilly/Dobbs pronouncements, exports of oil products are bad, exports of other products are good, and imports of almost everything are bad. They must have a very interesting economic model.
Henderson is being just a little unfair to O’Reilly. But other than that, this is just too good not to share.
Senate Republicans successfully filibuster oil company subsidy repeal bill.
From Senate GOP filibusters oil company subsidy repeal bill.
When government helps you it’s godless socialism. When government helps me, it’s just common sense.
A government official emphasized to me today what should be clear to anyone who follows Calculated Risk’s charts, namely that a huge element of our trade deficit has nothing to do with China or manufacturing but is instead driven by oil:
Now it’s not unusual that the US is a net oil importer. Most countries are. But America is a much more oil-dependent country than other places are.
The ongoing bailouts of the Oil Industry are the cause of half of us debt.