Exxon's $9 billion oil profit: Why is Congress giving tax dollars to oil companies?
From Hybridcarblog.com
Hybrid cars are not the answer to today's oil problems. Sure, everyone could drive a Toyota Prius and America could end foreign oil dependency, but one vehicle isn't going to save America from foreign oil. Even if everyone wanted to drive a Prius it would still take years before that many hybrids could even be produced.
Thus, critics dismiss hybrids as hype, noting that today's hybrid technology costs do not justify the savings in fuel economy. As if investment never leads to cheaper costs and better technology - I mean look at computers, what a wasted investment!
Instead, America would rather rely on big energy, such as Exxon Mobil. That's right, the same Exxon Mobil that "said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion" according to the AP. The same Exxon Mobil that is going to be given tax payer money to help alleviate the oil shortage in America.
Now, that's a plan!
And we're going to need more oil, a lot more oil, not only in the U.S., but worldwide. Unfortunately, that oil might not exist. According to an extremely interesting NYTIMES article, Doubts Raised on Saudi Vow for More Oil, Saudi Arabia might have far less oil than they have been proclaiming to the world, and a serious oil crunch could be just around the corner.
Don't worry, I'm sure Exxon will use some of its profits and tax payer incentives to help out the average American!
If oil supplies do stagnate, where is the oil going to come from to run all the diesels that are going to save America according to the Detroit News? Nothing like putting all your eggs in one basket.
Why not invest in technology?
Experimental hybrid vehicles have already been built that can achieve more than 100 mpg, some even achieve as much as 250 mpg, and others have claimed that a flex-fuel plug-in hybrid could achieve as much as 500 mpg. Additionally, flex fuel plug-in hybrids could utilize gasoline, diesel, biodiesel, electricity or even hydrogen. Is that too many options?
What the hell are we waiting for? Why does America continue to provide tax dollars to the oil industry? Why do we allow automakers, including Toyota, to continue to sell gas-guzzlers? Why not subsidize the cost of a fleet of Ford Escape hybrids and Toyota Highlander hybrids that achieve at least 50 mpg? That technology exists right now, yet instead we give billions to oil companies?
Oil, not technology, is the solution to America's problems, at least if you ask Congress. I guess almost 10 billion in profits provides a lot of favors.
So yeah, 100 mpg hybrids are too expensive and hybrids are just hype, but spending billions and billions on oil companies, oil refineries, the hydrogen highway, and fuel cells is a bargain - at least for Exxon Mobil it is.
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