Oil Exec Nukes “Shared Sacrifice”
C-SPAN, ladies and gentlemen. C-SPAN is carrying the hearings of the Big Oil executives today — and, of course, the Democrats are not in unison on this. Mary Landrieu is ripping into this Democrat effort to end subsidies for Big Oil — and, of course, there aren’t subsidies for Big Oil. Big Oil is not subsidized the way standard subsidizes work. All that happens is that they have a lower tax rate for certain aspects of their business, but there’s no real subsidy that takes place. Mary Landrieu understands exactly what’s going on.
Mary Landrieu says to fellow Democrats and to Obama (summarized): “Look, if you do this, you’re not gonna be hurting Big Oil; you’re gonna be hurting employment in my state,” and then she lashes out at people who live in non-energy producing states. Mary Landrieu said, “You people in Michigan, yeah, go ahead. You complain all you want about the gasoline price. What are you doing to contribute to our energy in this country? Your state doesn’t do anything for energy. But we here in Louisiana, we contribute. We have all kind of things.
“We have a lot of jobs. We have a lot of companies, a lot of businesses here that are devoted to producing and providing energy for this whole country, and I resent this notion of being singled out.” She’s really stepping up ’cause she understands what this is all about. She’s in a precarious position, here, having to go against her party. This is an attack on oil company employment, as are Obama’s moratoriums on drilling in the Gulf. But at the hearing one Democrat senator asked these execs a question. For example, I think the CEO of ExxonMobil is Rex Tillerson. (Has there ever been a better name for an oil company CEO than Rex Tillerson?)