Wednesday, May 9, 2007

Big Oil Resentment = Populist Class Envy

Couple of Co-Workers that I have a very high opinion of sent this email around (*sigh*):

"NO GAS ... on May 15th 2007. Don't pump gas on may 15th. In April, 1997, there was a 'gas out' conducted nationwide in protest of gas prices. Gasoline prices dropped 30 cents a gallon overnight. On May 15th, 2007 all internet users are asked to not go to a gas station and pump gas in protest of high gas prices. Gas is now over $3.00 a gallon in most places.There are 73,000,000+ American members currently on the internet network, and the average car takes about 30 to 50 dollars to fill up. If all users did not go to the pump on the 15th, it would take $2,292,000,000.00 (that's almost 3 BILLION) out of the oil companies pockets for just one day, so please do not go to the gas station on May 15th and lets try to put a dent i n the middle eastern oil industry for at least one day. If you agree (and I can' t see why you wouldn't' t) resend this to everyone on your contact list with it saying 'Don't pump gas on May 15th'. "

See who the enemy is, folks? The enemy is "Big Oil". Forget that industry standard profit for "Big Oil" is hovering around 10%, which is less than proflagate. Forget that the government on average takes more than twice that in taxes. The basics of economics are so woefully misunderstood in this country that Power Whores and idiotic Leftists can stoke this kind of populist fire seemingly unchallenged.

This is classic supply and demand. There are limited sources of crude oil available to America. The Left puts the brakes on nearly every attempt to access domestic oil sources. Consumption in this mobile society continues to grow. The summer driving season is heating up. The demand continues to increase, despite this crimp on supply. As demand tapers (as it did about a year ago), so will the price.

But it is much easier to blame the boogeyman of Big Oil. Despite Congressional investigations last time we went through this, which determined that there was no collusion on behalf of the oil companies to drive up price; despite this, we have to conclude that corporate America in the form of Big Oil is behind the greed involved in the price increase.

My theory is that the root of all of this is in Class Envy. As this, the most comfortable society on the planet, continues to prosper, those who don't have the wealth that others have continue to drink the Kool-Aid of the Left that, if they will only put their faith in the Democrats, they will achieve prosperity and success. Vote for MouthBreathers like Joe Biden, John Edwards, Hillary Clinton and the rich will get theirs. No, don't stop and think for a minute about the decisions you have made to evaluate why you aren't as rich as the CEO of Exxon Mobil. Your ham and egg 9-5 salary isn't enough for you, and the reason you are not as fat as that CEO is because he's gouging you at the pump. Its pathetic, simple minded populist class envy and its disgraceful. I wonder how many people who advocate this "gas out" have parts of their mutual funds, stock of some sort or 401K tied up in oil company stock? But, you know what? That Big Oil CEO will sweat over the fact that their Geos will be teetering on "E" the whole day. How rich it would be to hear a story of a "Gas Outter" getting stranded somewhere because of this stupidity.

Every Power Whore in the Democratic party can do us a favor by ceasing with the vilification of "Big Oil" (and seeing it for the simple minded but expedient class envy that it is) and begin to really put their money where their mouths are by suspending or all together repealing all Federal, State and Local taxes on gas. Then I'll listen to their bloviating about their concern about gas prices. Until then, they're just a bunch of opportunistic Power Whores looking to prey on populist ignorance.

I propose that May 15th becomes "Jeff's Garage and Ale House Fill Up Day." That day will be a pay day for a lot of folks, so putting at least 20 bucks in your gas tank will go a long way toward making these ignorant populists' crusade null and void.


5-10: This IBD Editorial adds to the above.