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Tuesday, August 05, 2008

A big lie

Take gas prices, the most pressing issue on the minds of Americans. Offer a blatant ploy that in fact won't help -- but will profit Big Oil. Pocket over a million in contributions from oil executives and use the money to put up an ad promising to take on Big Oil.
Call it the audacity of contempt. John McCain seems intent on proving that it is possible to scorn Americans into voting for him. Consider McCain's latest ad in the context of his "drill, drill, drill" energy policy. The text of the ad reads:
"Washington's broken. John McCain knows it. We're worse off than we were four years ago. Only McCain has taken on big tobacco, drug companies, fought corruption in both parties. He'll reform Wall Street, battle Big Oil, make America prosper again. He's the original Maverick...
"Battle Big Oil." Say what?
This is the same John McCain who just made off-shore drilling for oil a centerpiece of his campaign, reversing his longstanding opposition to it. He did so, not incidentally, while on his way to Texas for a series of fundraisers. The result unleashed a gusher of donations for Big Oil executives -- according to Campaign Money Watch, a nifty 1.2 million from Texas gas and oil interests in June alone, the very month McCain came out for drilling. He no doubt was told what to expect from the dozens of oil company lobbyists and retainers that reportedly are working with or raising money for his campaign.
Exxon reports an $11.7 billion profit for the last three months -- a new record in the history of corporatedom. The big five pocketed more than $140 billion last year. So Barack Obama suggests that we provide every American with a $1000 tax rebate to help pay for rising prices, paid for by levying an excess profits tax on the oil companies.
What does the maverick battler of big oil say? No way. McCain angrily dismisses the idea, saying that it would lead the oil companies to reduce their drilling in the US.
Now, all of this is based upon what might generously be called a big lie. The Big Oil companies, who hold leases for millions of acres that they aren't drilling on, have no intention of drilling for oil off our shores in the near future. They are simply looking to use the crisis to accumulate rights to drill in the future.
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