The Big Oil Broken Record
I don't want to sound like a broken record by bringing up Big Oil again, but I just read a piece on the ABC News website about Big Oil profits, and it ends with a pretty entertaining quote:
" ... The oil companies are "broadly owned by tens of millions of
middle-class Americans, anyone with a pension plan or 401(k) or IRA
account, a mutual fund," Dougher said. "They're really the owners. So,
when their stock portfolios go up, that's really who benefits." ..."
So it's not the execs that are worth scores of millions of dollars in their own company's stocks that really benefit from Big Oil profits, or who really own the companies. It's Average Joe America who can retire on his few thousand dollars of Exxon stock. It's Average Joe America who decides for Exxon which candidates to spend hundreds of thousands of dollars wooing and courting favors from.
Next time I'm filling up at the pump, I'll have the satisfaction of knowing that I'm just investing in my own future.
Give me a break, not billions of dollars in tax breaks to Big Oil.