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As if this country doesn't have enough to worry about, now Donald Trump says that oil companies such as BP (NYSE: BP), Chevron Corp. (NYSE: CVX), and Exxon Mobil Corp. (NYSE: XOM) are ripping us off. According to a story from CNBC, Trump is calling for punitive sanctions against oil companies, citing their historic profit levels.
While calling himself a "great capitalist" and stating that it is against his nature to seek punitive sanctions against companies that are reaping big profits, Donald Trump indicated that it is his opinion that oil companies have been ripping off the world for quite some time. In a statement aired by CNBC, Trump said, "I can see doing something against the oil companies."
I think it takes a lot of gall for a self made opportunistic capitalist to point fingers at companies which might play the game a little better than he does. Trump knows the rules and he knows where the power resides. He should also know that if changes in the movement of oil money need to take place, those changes should start with the government's already too large part of that money. Donald Trump must be aware that any adjustment to oil company revenue percentages will simply be handed off to consumers. So what is Donald really saying?
If Mr. Trump truly wishes to help the situation, then he should be standing in front of the White House demanding that taxes already levied on oil profits should be used to subsidize diesel fuel for commerce transport until the oil market stabilizes itself. Anything less is just one speculator shaking his fist at a wagon full of speculators. As a somewhat questionable performer in that regard, perhaps Mr. Trump should just pay closer attention to what's going on in his own little backyard.
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Reader Comments (Page 2 of 2)
6-27-2008 @ 4:45PM
ssnake1952 said...
lol All you people complaining about Pick ups must have those little cars from over seas..Making other countrys richer.. Buy American..and no i don't own one..have a 91 firebird V8 I will not be dictated what I can or cannot drive due to you or gas..I drive what I want..
6-30-2008 @ 4:39PM
In-Ok Lee said...
When you try www.yahoo.com, the TOYOTA stock price is 94.00 for the
ticker symbol TM and 5,063.00 FOR TYT.IL. For EXXON stock price, it is
86.00 for the ticker symbol XOM and 4,280.00 for EXX.L.
6-30-2008 @ 4:42PM
In-Ok Lee said...
When you try www.yahoo.com, the TOYOTA stock price is 94.00 for the
ticker symbol TM and 5,063.00 FOR TYT.IL. For EXXON stock price, it is
86.00 for the ticker symbol XOM and 4,280.00 for EXX.L.
7-17-2008 @ 2:54PM
Dave said...
George Bush is oil patch.....Family has always been oil patch....Friends in high places in the oil patch including the Arabs....George knew exactly what he was doing when he started the Iraqi war. He knew the price per barrel would start to spiral out of control rewarding all his oil patch friends. Screw democracy and screw Al Quada.....Bush went to war and sacrificed a lot of good boys for petro-dollars....
Everyone should check this video about how he helped another one of his buddies, Ken Lay of Enron fame and how he set the stage for the massive insider oil speculation that's happening today... http://www.enronloophole.org/
Finally, then do a google search on george bush harken energy insider trading and learn more about how George violated every SEC regulation because he knew his daddy would never let him go to jail.....He stole investor's money, bought the Texas Rangers, stole the election from Gore and the rest is history.....Recommend Farenheidt 911 to learn more about Georgie Boy........
7-01-2009 @ 4:55PM
Iron Mike said...
To the person who wrote this! you are a joke look around you cant handel the truth its been happening for years the oil folks have been laughing at us poor common folks.the folks in the middel east laugh at us while we protect their asses from their own stuiped people, Folks like you just cant handel truth coming from someone like trump.its a crying shame we are all a bunch of spoiled sheep crying now because the big bad wolf speaks the truth AND FOLKS JUST CANT HANDLE THE TRUTH !