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Oil, Savings and American Politics
By Jay Dubya
Last edited: Sunday, November 06, 2011
Posted: Wednesday, May 28, 2008


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• Wall Street Protesters Don't Value American Capitalism
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Author Jay Dubya provides observations on the subjects of oil and individual savings in regard in the upcoming 2008 Presidential election.

 

Democratic Party Has Been Hijacked by Left-Wing Radicals


 


 

Beware Democrats! Your radical left wing has hijacked your Democratic Party. Howard Dean is your Convention Chairman, San Francisco values Nancy Pelosi is your Speaker of the House and the most liberal tax-and-spend Senator in Congress, elitist Barack Obama, will most likely be the Democratic nominee for President.

And if Barack Obama has his way, forty-five million people without health insurance will receive it at government expense, college educations will be free for all young Americans, college kids will have their credit card debts erased and those unlucky citizens that gambled on sub-prime adjustable mortgages (and who are now in danger of losing their homes) will be miraculously salvaged at the already victimized taxpayers expense. Barack promises to be everything to everybody. Obama’s magic formula is for him to play Robin Hood with the “Haves” being forced to use more of their hard-earned money to subsidize the “Have-nots” problems. According to Obama, this is the “essential change” that America will experience. Barack’s concept of American democracy is for everyone to be equal (including being economically equal)! I don’t think that that precept is what our Founding Fathers had in mind when they drafted the Declaration of Independence and the United States Constitution!

In order to accomplish this “necessary change” and “wonderful hope” under either Barack or Hillary, America will return to the Clinton era 1990s’ income tax indexes where everyone earning over $39,000.00 a year will be paying additional revenue to Uncle Sam. Secondly, estate inheritance taxes will be increased so that a dying person’s life-long labors will more abundantly go to anonymous “Have-nots” and not to designated family recipients. And here’s exactly how either Barack Obama or Hillary Clinton plans to discourage individual savings among Americans. Interest accumulation in bank savings accounts, a person’s mutual fund and stock dividend portfolio and also his or her capital gains taxes will proliferate from the current fair 15% level to a burdensome 30%. If you made a hundred thousand dollars on your vacation home that you had sacrificed your entire adult life to fully own debt-free, be prepared to pay the IRS thirty thousand bucks instead of the now-established fifteen grand.

If you believe that government can and must solve your personal financial problems, and if you want something for nothing as a result of the labors of others, then vote for either Barack Obama or Hillary Clinton. If you believe in individual accountability and responsibility and think that government needs you more than you need it, and if you don’t want to spend any more of your valued income on European-oriented socialized government societal solutions, then vote for John McCain. Besides being the least of the three Presidential evils, McCain will only have one of his hands in your wallet whereas his wily and avaricious Democratic opponents will have both paws greedily grabbing at your personal assets.


 

Jay Dubya (author's initials and pen name)


 

The U.S. and World Oil Crisis Reality


 

I just saw oilman T. Boone Pickens interviewed on TV and he’s one of the few people I’ve listened to that makes sense on the current gas crisis in America. Here’s what Pickens had to say about the rising oil and gas prices.


 

The U.S. has 4% of the world’s population but uses 25% of the world’s oil supply. As other nations' populations grow, they will begin hoarding oil from future U.S. consumption, thus making oil prices spiral even higher than they are doing right now. Presently there is hysteria in the "Oil Futures Market," and this "fear" about future supply/demand is driving the price of oil upwards with world demand (mostly growth in India and China)now competing with U.S. demand.


 

State controlled oil (Saudi Arabia, Venezuela, Russia, China, Iran, etc.) produces and controls 85% of the world’s oil. U.S. and European based oil companies control the remaining 15%.


 

Exxon/Mobil is a small player on the world oil stage. Exxon/Mobil controls only 2% of the world’s oil. It must buy most of its crude oil (to be refined) from State controlled governments (many of which have hostile feelings towards the U.S.).


 

Right now the world daily oil demand is 86.7 million barrels a day but the daily supply is only 85 million barrels a day. The U.S. currently imports 75% of its oil and in so doing accumulates a trade deficit of 850 billion dollars a year. U.S oil companies produce only 25% of this country’s oil and gas demand.


 

Oil will rise to 150 dollars a barrel in 2008 and be at least $4.00 a gallon. Future prices are almost certain to go much higher if not abated by intelligent planning and solutions.


 

Alternative energy (and alternative fuel systems) for cars is currently an impractical solution. Nobody wants to plug their auto into an electric socket or battery charger for eight hours every night just to be able to go a maximum speed of 35 miles an hour for four hours.


 

Alaska oil drilling could have produced 2 million barrels a day if allowed to have drilling there in 1982 when Anwr was first proposed. If this had happened, the world’s daily supply would be greater than demand and the price (and "futures speculation") would have gas selling in the $2.50 range right now. Also, China is drilling off the coast of Florida but U.S. oil companies are not allowed because of pressure on Congress from the conservation/environmental lobbies.


 

Petro China is a company that has an Asian stock market value over four times that of Exxon/Mobil does on the New York Stock Exchange. Exxon/Mobil sales are 100 billion dollars a quarter (400 billion a year) and its profit is a little over 10 billion a quarter (40 billion a year). The company makes ten cents on the dollar or around 10% after taxes and expenses. Most large U.S. corporations have a higher profit margin from 15% to 45%. Exxon/Mobil (XOM) stockholders make only 1.6-1.7% annual dividends on their investment (stock price: $92.50 per share; Dividend yield per share: $1.80).


 

Vladimir Putin has control of LukOil, a Russian company and he’s worth over 40 billion dollars (approximately what Exxon/Mobil earns in a full year).


 

Saudi Arabian oil is diminishing annually as world and U.S. demand is increasing. India and China are becoming industrialized and each country right now is adding over a million automobiles a year to its highways. Saudi Arabian oil will be depleted in around 20-25 years.


 

It costs around $25 dollars for U.S. companies to produce a barrel of oil (that now costs 135 dollars a barrel on the spot market). But since U.S. oil companies are limited in their ability to drill in Alaska and along the Gulf Coast, they must buy three quarters of their oil on the world market from unfriendly countries, and that money is often used to fund Muslim terrorism along with fueling (no pun intended) the U.S. trade deficit.


 

Most of the world oil supplies are under enemy and rogue states such as Saudi Arabia, Iran and Venezuela.

Now then, with the above facts at your disposal, you can help solve the oil and gas problem by:


 

1) on the supply side, demand that at least 2 million barrels a day be taken from new drilling in Alaska and off the Gulf Coast where great reserves exist. Remember, Saudi Arabia has recently turned down President Bush’s request that they up their production 2 million barrels. Saudi Arabia’s capacity is 12 million barrels a day (but they are producing around 8 million barrels a day).


 

2) on the demand side, practice carpooling with other co-workers, companies should have 10 hour work days (4 days, 40 hours per week) to discourage 20% additional commuting to work, more people should be working at home via computers instead of driving back and forth to work, and more fuel efficient engines getting 30 plus miles per gallon should be mandated by Congress.


 


 

Punishing the major U.S. oil companies with “windfall profits taxes” will not solve the gasoline crisis. It will hamper company investment and exploration and hurt the millions of stockholders that have mutual funds, bonds and energy stocks in their retirement accounts (401 Ks, IRAs). The U.S. government prints our money but Wall Street and Main Street create this country’s wealth. Without the ability to tax corporations, companies and businesses, the U.S. government would go bankrupt in short order and the money it prints would be worthless.


 

Most stockholders today suffer from “triple taxation.” The large U.S. corporations pay income tax on their profits and then the stockholders must pay income tax on their shares after dividends have been declared on already taxed profits. And then U.S. taxpayers must pay 38 cents a gallon tax on gasoline that’s already been taxed twice.


 

If you’ve learned a thing or two from this e-mail, then please feel free to send it to others in your address book.


 

(Jay Dubya: author’s initials and pen name)


 


 


 

 

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Books by
Jay Dubya



The Wholly Book of Doo-Doo-Rot-on-Me

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Thirteen Sick Tasteless Classics, Part V

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The Psychic Dimension

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Ninety-Nine Novellas

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So Ya' Wanna' Be A Teacher

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The Wholly Book of Genesis

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The Wholly Book of Exodus

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