Demo Congress Still Pointing Fingers Instead Of Solving Energy Problem

Senator Chuck Schulmer, Democrat from New York, today lambasted Exxon for record profits, implying that the Company's financial success was harming Americans. Sen. Schulmer raked Exxon over the coals, saying that the Company was going to be using their profits to buyback stock to increase their share price rather than using it for exploration. Since when did it become a sin in America to increase the value of the owners investment in a company? Perhaps the good senator doesn't realize we are a capitalist nation with a free enterprise economy. Perhaps he doesn't know that Exxon is owned by its shareholders, not some monolithic owner or small group of managers. Perhaps he doesn't know who Exxon's shareholders are. Before he criticizes increasing the value of their investment, perhaps he should realize that tens of thousands of his constituents help comprise Exxon's shareholders (or ownership) and is an important way by which they are able to increase personal wealth by which they buy houses, pay for their children's education, buy medical insurance, feed their families and,, yes, help offset the cost of gasoline. No senator, Exxon's profits are not just helping the wealthy, they are part of the savings of vast "middle income" America, through their ownership in 401-K's, IRA's, mutual funds, union and corporate pension funds etc. And guess what, senator, where in the hell do you think the taxes come from that you and your colleagues so willingly spend--that's right, in significant part from taxes paid by investors(shareholders) who have made a profit on their investments. Senator Schulmer, you're either terribly ignorant or you're purposely misleading your consitituents for political purposes in this election year. In either case, it's inexcusable.