WHY BRAZIL ISN'T ASHAMED TO EXPLOIT ITS OIL

Wall Street Journal ^ | June 17, 2008 | Mary Anastasia O'Grady

[Donald Rumsfeld Fan]

Consider:

The Brazilian government has a 58 percent controlling stake in Petrobras's voting shares and 32percent of its total shares, which means that some of the profits go straight to the government's bottom line, giving the politicians more money to spend on bribing their constituents.

In the United States, American politicians do not benefit from a successful oil industry, since corporate profits go to shareholders, pensioners and employees; therefore Congress has a much greater incentive to respond to the concentrated power of the special interest group known as the "greens."

There are plenty of other examples, says O'Grady:

In Mexico, the state-owned oil monopoly, Pemex, has a history as a notorious polluter yet is seemingly exempt from political pressure to clean up its act.

Bolivia, Venezuela and Cuba all boast aggressive, state-owned mining operations, yet neither the nongovernmental enviro-movement nor the political class utters a peep to object.

In El Salvador, a private mining company has spent years attempting to reopen to El Dorado mine, but have repeatedly been rebuffed by the left-wing, anti-private sector FMLN political party; since the government isn't the owner, a private mine doesn't inspire politicians in San Salvador the way Petrobras inspires Brasilia, says O'Grady.

[Donald Rumsfeld Fan]

This proves the Greens are Socialists, aka Watermelons. They don't care about the environment. They only care about power and control. The "Green Movement" is their vehicle.

[calex59]

In the United States, American politicians do not benefit from a successful oil industry, since corporate profits go to shareholders, pensioners and employees; therefore Congress has a much greater incentive to respond to the concentrated power of the special interest group known as the "greens." This is a lie, the US government(politicians)benefit enormously from oil prices. The taxes on oil grow with the price. We need to drill in the US and to build refineries and nukes. Anyone who thinks differently is either brain dead, a communist(read leftie democrat), or just plain stupid.

[griswold3]

Benefit, yes. Control, not yet!

See Maxine Waters....

[pleikumud]

The US Congress is the primary reason we are so dependent on foreign oil, and the primary reason we are paying so much for gas, diesel and other fuels. They have banned drilling offshore, banned drilling in the ANWR, obstructed construction of nuclear power plants, and they have passed the “Corn Laws” - their idiotic requirement that ethanol be blended with gasoline. The latter has driven up the cost of food, even as a well know oil expert, Boone Pickens, calls ethanol “a joke”. If all the farmland in the US were used to grow corn, it would only meet about 10% of our fuel requirements. And food prices of course would go into orbit around Jupiter. Our Congressmorons are ignorant of modern drilling techniques. instead of allowing the use of domestic resources, they hold mock trials of oil executives and criticize Saudi Arabia for restricting production. The two Senators from FL, Democrat Bill Nelson and Republican Mel Martinez, are two good examples of those who oppose drilling offshore or in the ANWR. Voters should demand that Congressmorons learn how to spell “d r i l l” or be removed from office and supplanted by someone who has a brain.

[dennisw]

I am so enraged at our green-anarchists. I’ve been on gardening message boards and petroleum message boards. There are so many people rooting for a down scaled horse and buggy USA.

[calex59]

Sorry about the italics for the whole reply, I was just a little upset! I hate politicians, don’t care what the letter is after their name. We are in a mess because we have ignored, nay, encouraged, the communist to take over our country under the guise of socialist. Period.

[Former MSM Viewer]

Here she is and her brilliance is shining thru...

http://www.youtube.com/watch?v=PUaY3LhJ-IQ

[No Truce With Kings]

“This is a lie, the US government(politicians)benefit enormously from oil prices. The taxes on oil grow with the price.”

Not really. The *country* might benefit from increased tax revenues, but politicians benefit from crises. That gives them laws to pass which increases their individual power. The more the government intrudes in our lives, the more important an elected official becomes.

At this point, and especially with Democrats, I am far from convinced that the greater good of the country comes ahead of greater power for them personally. A dysfunctional oil industry serves their greed for power better than a successful oil industry.

[steelyourfaith]

"In the United States, American politicians do not benefit from a successful oil industry, since corporate profits go to shareholders, pensioners and employees; therefore Congress has a much greater incentive to respond to the concentrated power of the special interest group known as the "greens."

The politicians and green ecotards have a symbiotic relationship.

 

Beam me to Planet Gore !

[calex59]

Not really. Not really my a**. Politician benefit from all taxes. They also benefit from phony crisis, which allows them to raise taxes. The reason they won't allow drilling is simple. If we can't drive our cars they have more control over us and more control over out money. Politicians are all thieves and benefit from every tax increase. Not really, what an idiot. Yep, that's right, I called you an idiot. Add yourself to the millions of idiots making excuses for politicians.

[griswold3]

No apologies necessary! I agree with you.
The pols have only power on their minds. The more voters that recognize what is happening, the better chance we have.

[USFRIENDINVICTORIA]

Governments also collect “royalties” (however contradictory that may sound in a republic). Royalties are not taxes. Royalty payments confer a benefit on governments, without the government having to nationalize the oil companies.

[bray]

If you like $5/gal, Thank Congress.

Pray for W and Our Troops

[curiosity]

In the United States, American politicians do not benefit from a successful oil industry, since corporate profits go to shareholders,

Nonsense. Oil companies pay huge royalties (usually 25% of revenue) to the government for all oil extracted on Federal Land, which is just about where all new reserves are likely to be found.

If the Feds were to offer to share some of these royalties with California and Florida, as McCain is proposing, the elected officials of these states would very likely stop their opposition to drilling. It appears Crist already has. Amazing what money does. It would also make drilling a lot more popular among the voters.

[Redbob]

"...and 32 percent of its total shares, which means that some of the profits go straight to the government's bottom line..."

Some?
32% maybe???