Glad These People Aren’t In Charge Of The Country …

J.J. Jackson* | July 28, 2006

It’s amusing to watch newspapers and other media go out and interview people on the streets to get their opinions on topics they are clearly not qualified to comment on. Take this article (Exxon Mobil profits prove small comfort to motorists) written by Jennifer Caballero.

It starts out interviewing a man who apparently doesn’t pay much attention to how little oil companies actually make on a gallon of gas.

Pumping $65 worth of regular fuel to fill his Ford Explorer at an Exxon Mobil station, Rudy Garcia of Union City reacted with anger and bewilderment to the news of the oil company’s profits.

“They [Exxon Mobil] are abusing the people’s wallets with these prices. The government just sits back and does nothing,” said 62-year-old Garcia.

Well gee Mr. Garcia what should the federal government do? Violate the Constitution and pass a law beyond the powers granted to it in Article I, Section 8? You might like that. Heck I doubt you even know what the assigned powers of Congress really are!

As a reporter, Jennifer should have either followed up with such a question or ignored his ignorance. But no, instead she included it. Showing once again that Americans many don’t have a clue.

Here’s another comment she decided to include:

High fuel prices may not be a surprise to the average consumer, but some customers Thursday expressed shock and dismay about the soaring profits.

“Exxon made what?” said a surprised Rios Betancourt when he heard of Exxon Mobil’s profit.
…
“The government has got to do something. It’s incredible the amount of money these guys [Exxon Mobil] charge us,” Betancourt said.

Apparently Mr. Bentancourt doesn’t invest in oil stocks, hence his surprise and his outrage. I wonder if he would have been as outraged if he would have been told by this reporterette that the State of New Jersey tacks on $0.329 per gallon compared to the profit of the oil companies which is only around $0.09 per gallon? I wonder how much more outraged this gentleman would have been if someone would have mentioned that the federal government adds another $0.189 per gallon on top of that?

Heck, he might have enjoyed hearing that! After all so many people in the country are anti-business and pro big daddy, nanny state government.

The reason Exxon Mobile and other oil and gas companies made a larger profit is because they are selling more product. Worldwide demand for oil is way up in case you haven’t noticed.

What we need to do is start teaching our children about economics because apparently far too many people just don’t seem to grasp the concept of capitalism. But then again, what do you expect in the People’s Republic of New Jersey?

More Liberty Means Less Government: Our Founders Knew This Well (Hoover Institution Press Publication ; No. 453)

(Book)

Authors:Walter E. Williams
Manufacturer:Hoover Institution Press
Released:April, 1999

Applied Economics: Thinking Beyond Stage One

(Book)

Authors:Thomas Sowell
Manufacturer:Basic Books
Released:11 November, 2003

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