Wednesday, December 06, 2006

Big Oil can count on Interior motives

Just throw up after reading this. I'll understand and feel for ya.
It came in the mail the other day, a solicitation for a small- cap oil company stock that promised to make me a millionaire almost overnight.

"You'll be a card-carrying member of the easy-money crowd," it promised in suitably purple prose; be a part of "the cartel of smart Texans who send out a secret radar to their pals about where piles of money are stashed as they blow across west Texas' dusty roads in their hot-rodded Rolls Royces, Corvettes and Escalades." You can, it cooed, "be filthy rich." Fancy that.

Don't know just who put this impassioned pitch together, but he's slick. Probably got a sideline selling cemetery sites in Baghdad and perhaps a past peddling Enron stock to widows and orphans. But in the process he (or she?) offered this insight into why the awl bid ness, as Texan Molly Ivins would put it, is hyper profitable today and promises to remain so in the immediate future: The oil industry won't spend a penny of its obscene profits for new exploration.

Instead, he bragged, it has conned Congress into forking over $10 billion in tax incentives to help it find more of the black gold to sell at exorbitant profits.

Jesus H Christ on steroids, but the Bush admin never lets up. They intend to rape the public for generations.

(read more)

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