Category Archives: Business

Gas prices part 2

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I would like President Obama to release or threaten to release a portion of the strategic petroleum reserve to scare some of the speculators out of the petroleum futures market. If they lose their confidence that prices have nowhere to go but up, they may be more cautious in the future. And that will force the price of gas down.

As I wrote in a previous post Gas prices, the long-term solution, beside green energy, is more competition among the oil companies which now form a cartel. Teddy Roosevelt tried to bust the oil cartel in 1911 by breaking Standard Oil into several smaller companies. However, that victory was largely ineffective because the several parts of Standard Oil continued to collude with one another, and even maintained their main offices in the same building for a time. Breaking up the oil giants will be difficult, but it is a mandatory goal for Barack’s second term.

In the short-term, we can get relief from high gas prices if our government regulators police the speculators more closely and if prohibitive taxes are instituted on speculation. Additionally, some refined gas is being shipped abroad at a time when US demand is down. I would like to see a temporary ban on gasoline export whenever prices at the pump reach or exceed a certain level.

Finally, I suggest that you consider writing to the White House to express your thoughts on this matter and/or anything else you feel strongly about. Please express your thoughts in your own words; they will have more impact than repeating someone else’s words. The White House link is http://www.whitehouse.gov/contact and the form to fill in is found about 2/3 of the way down the right side of the page entitled “Submit Comments Online ” I recommend also that you send a copy of your comments to Rachel Maddow of MSNBC at rachel@msnbc.com She is fighting for us, and  she is more effective than most at calling a spade a spade.

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Keystone XL pipeline part 2

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Mitch McConnell says that the Keystone XL pipeline is designed to carry petroleum from Canada to the Gulf of Mexico. Good thing that BP is not involved, or that petroleum might wind up in the Gulf of Mexico, adding to the continuing damage to the environment caused by Deepwater Horizon. The Keystone petroleum is to be refined in Louisiana, and the refined product shipped abroad. No help to our energy problems.

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Gas prices

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Tonight on ABC World News, the reporter did the usual when gas prices rise; go to a gas station with high prices for the area and interview drivers who are spending big bucks to fill their tanks. No mention whatsoever of the speculators who are presently responsible for rapidly rising prices. No mention either of declining demand for gas to the extent that gas is being exported because the US supplies are greater than demand. When oh when will the corporate media give us the information we need to demand better from our government regulators and our lawmakers. I advocate that we break apart the oil companies as Teddy Roosevelt did with Standard Oil 101 years ago. That would be my long term solution. In the short term, I would ban the export of refined gasoline, and I would regulate or tax or both speculation in petroleum.

Please see  Strait of Hormuz | Strait of Hormuz part 3 | Strait of Hormuz part 2

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Corporate taxes

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Corporations don’t pay enough in Federal taxes. They paid 1/3 of Federal revenues in the 1950s and individuals paid 2/3. Over the years the corporate share has dropped to 1/10 and individuals now contribute 9/10 of Federal revenue. John McCain and Wolf Blitzer, just moments ago, claim that the US corporate tax rates are the highest in the world. Those are NOMINAL rates. In fact, the effective rates, the rates they actually pay in dollars and cents, is the second lowest in the industrialized world, only second behind Iceland according to the Center for Tax Justice. The revised corporate tax law proposed by Barack today is revenue neutral; it will neither raise nor lower total revenue.

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Retirement

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Definitions:

  1. Retire: stop working
  2. Re-tire: put 4 new tires on a car or truck.

If Mitt and others of like mind have their say, the first definition will fade from our vocabulary as the retirement age is raised until no one, except the 1%, will be able to retire. Not everyone will be able to continue working until the retirement age because the human body wears out with use. Some jobs are more physically demanding than others. I retired at nearly age 70, and I would still be working at almost age 71 if I were able. In a hospital working with patients, one is expected to assist patients if they cannot help themselves. Frequently the hospital worker’s back is stressed, and my lower back is still tender after a year of retirement. We were trained with an inflatable air mattress device that made patient transfer from gurney to x-ray table easy, but the device was never put into widespread use. A budget problem I suspect.

When I was age 50 and working as a hospital aide, I decided to switch from 8 hour shifts to 12 hour shifts to increase my income. Working 8 hours per day at that time was not a strain, but I found that I had to pace myself to survive 12 hour shifts. Sitting down between tasks became a necessity. I understand that at WalMart, a letter from your doctor is required if an elderly employee needs to sit during working hours. I also understand that the job of greeter at the entrance to WalMart is being phased out. One less employment opportunity for the elderly.

Please see Predatory lending and corporate restructuring | Age discrimination

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