Like, his paymasters, the oil companies -- who contributed $2.7 million to his 2004 campaign -- George W. Bush is feeling sorry for himself. Perhaps his record low poll ratings are hurting his feelings. He went to Saudi Arabia and asked it to increase production. He went to the Middle East and asked them to make peace -- it's a nice sentiment but will results follow? But that's not why Bush is whining.
BusinessWeek reports that Bush's complaint is that he thinks General Electric Company's (NYSE: GE) NBC News was unfair in the way it edited an interview. In the Israeli parliament, Bush gave a speech which none-too subtly implied that Barack Obama was like Nazi appeaser, Neville Chamberlain, because Obama has said he would meet with Iranian leaders. Bush thought he was being clever in his non-denial denial. Now he is complaining that NBC is being "deceitful."
That's rich coming from the person who got the U.S. into a war with Iraq based on false claims of Weapons of Mass Destruction (WMD) and ties to Al Qaeda. Is it the "Mission Accomplished" Bush or the "Heck-of-a-job-Brownie" Bush who's complaining about NBC News's "deceit?" Meanwhile -- as I posted here, here and here -- the oil companies have been whining because their earnings are down -- the price of oil has doubled and they have only been able to increase wholesale prices by 39%. Boo hoo!
So as you stand at the pump filling up your tank with $4 a gallon -- a surprise to Bush -- shed a tear for Bush and those poor, suffering oil companies.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He owns GE shares.
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Reader Comments (Page 1 of 1)
5-20-2008 @ 11:53AM
RON BAKER said...
Why is congress not alowing oil drilling in the Gulf of Mexico,Atlantic,and Alaska?
Why aren't US auto maker producing natural gas vehicles?
5-20-2008 @ 12:03PM
Alex said...
Blogging stocks, or blogging random political rants?
5-20-2008 @ 12:54PM
Big Bill P said...
I hope Bush does not create any hurricanes this year that might kill people & raise oil even higher. God forbid he use any weight to push the Saudi's. If he does he's a tyrant if he does not he's getting rich from big oil. No matter what you liberals hate him.
5-20-2008 @ 1:05PM
Mary said...
I was feeling the same sentiment. Bush going to the middle east to increase oil production is a JOKE! He is in bed with the OIL GIANTS, and he is trying to save face. This is an act citizens of US, its phony plain and simple. Bush the American People see right through you. Bush and his Republican cronies must be feeling the heat as the race for the next president draws near.
5-20-2008 @ 1:02PM
Carol Reid said...
Give it a rest! History is going to prove you and your ilk wrong. Congress in its hatred and retaliation for the 2000 election has blocked all efforts to increase US oil production. Watch the price of oil go sky high if a democrat gets in!
5-20-2008 @ 1:25PM
Val Schumacher said...
Those in power or office in Washington Do nothing but talk about high prices of crude. They should be taking actions or reprisals for these increases. All I can do is voice by my next VOTE.
5-20-2008 @ 1:26PM
Val Schumacher said...
Those in power that could do something; should earn their pay. Better yet start looking for a new profession; Elections are soon; so VOTE wisely..
5-20-2008 @ 1:21PM
Mary said...
What bush should have told those CAMEL JOCKIES was if they don't bring down the price of oil when I ask, the People of America are going to VOTE my Sorry A** Republican Party out and the Democrats are going to bring the prices down like the last time.
5-20-2008 @ 1:25PM
Eric Mercado said...
What will it take for you republican idiots to realize that Bush and the Republican Army are in it for themselves? What have they done since taking office? High gas prices, lousy economy, lies and deciet, etc....etc...etc..... Wake up America, the republicans have shafted us again and again....That is why in 6 years after I retire, I will leave this country. This country is not what it used to be. A bunch of money hungry indidviduals fattening their pockets at our expense.......good going America
5-20-2008 @ 3:50PM
bob schick said...
stick to stocks stupid!
5-20-2008 @ 4:01PM
John Weber said...
MSNBC and GE have taken the far left road and admitt it pretty openly. GE also sells things to Iran through it's subsidiaries.
I wonder if Mr. Cohan can tell me the popularity rating of the Democrat Congress. While you are at it, tell me what they have done to lower oil prices. The Dems have stopped us from drilling for oil, refining oil, or developing nuclear energy. Next time you complain about high gas prices, thank a Democrat.
5-20-2008 @ 4:22PM
Jim said...
Bush's speech was aimed at anyone who could be considered an appeaser. In reality, it was aimed at Jimmy Carter who, despite the State Dept.'s request, had gone to speak with Hamas, who welcomed the attention and then told Carter there could be no peace until Israel is destroyed. Obama's reaction can only be described as a guilty conscience. If John McCain is accused of seeking to complete George W. Bush's third term, then Obama is seeking to complete Jimmy Carter's second.
5-24-2008 @ 5:01AM
poopy_pants said...
cohan u are the biggest idiot ever!
5-27-2008 @ 4:02PM
Michael said...
As I have stated before regarding Peter Cohen, I feel for his students having to sit through a semester with this clown. Don't we have a sufficient number of Blame Bush first commentators on venue as it is?
If ANWR had been approved back in Clinton's era we would have another 1 X 10^6 barrels of oil on the market.
The intergrated oil companies in America control less than 6% of th world's supplies? Praytell how they control the price of oil again? Let's focus on the root cause of current oil prices and stop with the populist pandering.
Limited supplies---Growing demand---America's irrational drilling restrictions, OPEC.
5-28-2008 @ 7:30PM
Nancy said...
Bush has never worked for the US. He has only worked for Saudi Arabia, and he has done a fine job covering up their tracks of 911, and then allowing them to rape and pillage our country. I wonder what his cut is. Even one tenth of one percent of oil profits is an astronomical amount.
5-30-2008 @ 12:12PM
Rich Brulato said...
The only way to stop the oil companies is to penalize windfall profits and teach them alesson.
5-31-2008 @ 10:27PM
Thomas Green said...
I detest Bush, Cheney, Rumsfeld and Rice.
I am a Republican; but more, I'm an American.
Oil companies and automobile manufacturers having been raping Americans, not for years but for generations.