Bush and his ratings…

I’m getting sick and tired of hearing the latest polls that say we are unhappy with the President.

What can we expect when for weeks we report how bad Bush is doing then at the end of the time period we poll the viewers of the news?

My favorite poll is the one that says 13% of the people approve of the way Bush is handling the gas prices!!! WHAT DOES HE HAVE TO DO WITH THE PRICE OF GAS!???!?!?

It is time for the President to start talking about how well the economy is doing and do something real on immigration!!

2 comments to "Bush and his ratings…"

  • President Bush directly has nothing to do with the gas prices but there are multiple things that the president and congress can do to drive the cost of oil down, Now, yes, this is only short term and we still will need a long term solution but the following are things the congress can do:
    - Subject all oil trading to the same regulation as other commodities. Seventy-five percent of the oil supply is traded off the books. Speculators and oil companies secretly buy and sell contracts repeatedly to drive up the price and create profits. Commodity experts say regulation of these markets could lower prices as much as 25 percent.

    - Impose a windfall profits tax on oil producers and refiners, except on money that is invested in expanding refinery capacity or drilling for oil. The revenue from the tax should be used to invest in alternative sources of energy.

    - Pass legislation to make all gouging of consumers a federal crime. Currently, gouging is only illegal if there's collusion between two or more entities, which is notoriously hard to prove.

    - Force the administration to take action to break up the OPEC cartel by filing a complaint at the World Trade Organization. OPEC's quotas that artificially limit oil production violate global trade rules.

    - Foster actual competition in the oil industry by imposing a merger moratorium and subjecting the industry to anti-trust investigations.

    To your other blogs about gas producers not making record profit:
    In 2005, Exxon Mobil reported the highest annual profit ever for a U.S. company, $36 billion, up 43 percent from the year before. That's about $100 million a day.
    And the CEO retired with a $400 million dollar compensation package, DID HE REALLY NEED THAT?

  • My blog NEVER said that the oil companies did not make record profits...I pointed out that they made this profit with one of the smallest profit margins...This means that demand was higher yielding to higher prices.

    Did the out going CEO need the $400 million compensation package...probably not but considering he helped the shareholders make money he did deserve it.

    #1 – 75% off book trades!!! That is a BS number…Proof is needed these are public companies and are audited regularly.

    #2 – Windfall profit tax will only increase our cost of gas. Basic economics here, a company will pass on the cost of taxes to the retailers.

    #3 – So who’s price gouging? The oil companies? I suggest you read my blog again about profit margins. You can not gouge with small profit margins!!!

    #4 – The WTO has no teeth and the US is already getting the best prices in the world. When you compare our gas prices in relation to our incomes we have by far the best gas price!

    #5 – There has been anti-trust investigation into all of the major mergers and there haven’t been any issues to date. The oil industry has not become monopolistic…yet.

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