Is the oil industry unfairly demonized?

[Bono]

Exxon’s profit margin stood at 10% for 2007, which is hardly out of line with the oil and gas industry average of 8.3%, or the 8.9% for U.S. manufacturing (excluding the sputtering auto makers).

[Bono]

Our government??? Are you talking about gas taxes hahaha. I agree that the governments of countries like Venezuela and Saudi Arabia are making a lot of profit but not ours.

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Do they pay a higher tax rate than any other corporation? No? Ok. Is is something unusual for a corporation to pay taxes? Thankfully we haven't got rid of those yet.

One of us is confused, wasn't your point that they don't pay enough taxes in the US and that they pay a ton to Ven. and SA?

No I didn't really say that. I think they pay the right amount of taxes to America. Just maybe they should pass along some of that profit on to the consumers or at least help us by investing in alternative technologies. Something that would get us out of the death spiral that is our energy policy.

Why is it their job to implement energy policy?

[Bono]

I'm not sure they are demonized enough, frankly.

How much is enough? Should the left keep demonizing them until they become nationalized? (as has been suggested by Democrats)

Seeing as how I favor strict price controls on products Americans must have to live, I suppose I'd be pretty open to nationalization.

(There's a reason GM says I am to the left of Mao! LOL)

Why do people still support price controls even after they have been thoroughly discredited by both economic theory and practice? That's a triumph of emotion over reason. price controls 'sound' like a pretty good idea until you realize the consequences.