Sunday, August 03, 2008

That just ain't right

Mr. Obama wants to cut us all a check for a thousand bucks, flensing the oil companies for the dough.

I'm against stuff like this in principle, but if Uncle Sugar wants to send a few bucks my way .. well I'm not going to send the check back, now am I?

I dunno about the supply and demand stuff - I'll leave that for the guys that attended college - but the numbers in this just don't seem right.

There are 209 million of us eligible for this money. Not counting overhead that is $209 billion dollars worth of checks being sent around.

According to some smart guys at ISRIA profits for the oil industry in 2007 were $155 billion [1]. I see a shortfall of $54 billion.

Hell, I'm not even sure some of the companies in the report are even American. BP - in't that British Petroleum? Royal Dutch Shell - hell, I didn't even know the Dutch still had a monarchy, let alone a big friggin' oil company. You learn something new everyday.

LOLTREK  - WTF by you.

So ... yeah. I dunno where it's all going to come from - maybe ExxonMobil can take out a payday loan or something from the Cash Store.

Minkler Cash Store by 1Flatworld.

[1] HTML version of the PDF, here.

Hat tip Boots & Sabers
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