Tuesday, June 03, 2008

War Profiteering - Carpetbagging in other words

From Greg Palast:(here)

I wish to hell the Democrats would call their plan what it is: A war profiteering tax. War is profitable business – if you’re an oil man. But somehow, the public pays the price, at the pump and at the funerals, and the oil companies reap the benefits.

Indeed, the recent engorgement in oil prices and profits goes right back to the Bush-McCain “surge.” The Iraq government attack on a Basra militia was really nothing more than Baghdad’s leaping into a gang war over control of Iraq’s Southern oil fields and oil-loading docks. Moqtada al-Sadr’s gangsters and the government- sponsored greedsters of SCIRI (the Supreme Council For Islamic Revolution In Iraq) are battling over an estimated $5 billion a year in oil shipment kickbacks, theft and protection fees.

The Wall Street Journal reported that the surge-backed civil warring has cut Iraq’s exports by up to a million barrels a day. And that translates to slashing OPEC excess crude capacity by nearly half.

Result: ka-BOOM in oil prices and ka-ZOOM in oil profits. For 2007, Exxon recorded the highest annual profit, $40.6 billion, of any enterprise since the building of the pyramids. And that was BEFORE the war surge and price surge to over $100 a barrel.

It’s been a good war for Exxon and friends. Since George Bush began to beat the war-drum for an invasion of Iraq, the value of Exxon’s reserves has risen – are you ready for this? – by $2 trillion.

It's time to end the fantasy that "our" MegaCorporations are(or ever were) operating in the interest of the people of the United States. The purpose of a corporation is to make as much profit as it can for it's stockholders, and damn the workers, damn the taxes, damn the governments it buys, damn the environment - except for green lipstick, that pig is terribly ugly.

It's time to make clear in our laws that Corps are not people, and Corps are greedy ugly things that should be regulated stringently.



Post a Comment

<< Home

/* sjg */ Site Meter /* sjg */