THE AUSTIN CHRONICLE: STOP SUBSIDIZING BIG OIL
May 9, 2008
The Hightower Report
In 2006, the CEO of ExxonMobil exclaimed that, gosh, his corporation was rolling in so much profit that he simply didn’t know how to spend it all.
Well, one place worthy of major investment would have been research and development on alternative fuels to help America break its dependency on ever more expensive and ever more polluting oil. But, no go. Two years later, with oil more than $100 a barrel and Exxon’s profits topping $40 billion a year, the rationale for such an investment is even stronger. Yet, the oil giant recently rejected a congressional request that it start putting 10% of its earnings into alternative energy development.
OK, maybe we don’t even want Big Oil mucking around in solar, wind, hydrogen, and other renewables, since they would try to monopolize production and engage in the same kind of gouging they do with oil products. But here’s one small step Congress could take toward new energy resources: Repeal the $1.8 billion annual tax subsidy that the Bushites gave to the oil industry in the 2004 tax bill. Instead of continuing to put this freebie in the pockets of the Exxons, let’s invest these tax dollars in a renewable-energy future $1.8 billion would roughly double what Washington now spends for R&D on alternative sources.
Besides, with $100-a-barrel oil and the Top 5 corporations banking $123 billion in yearly profits, why are we taxpayers subsidizing them? We already pay a king’s ransom at the pump, so let’s cut off this tax giveaway they never should have gotten in the first place. But you can never overestimate oil company greed. Industry executives and lobbyists are now whining to Congress that, since oil prices might come down someday, they should be able to keep this subsidy as a cushion.
Hey, build your cushion the old-fashioned way with your rip-off profits.
http://www.austinchronicle.com/gyrobase/Issue/column?oid=oid%3A621789
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
