OK ... let’s get started with those hideous oil companies and all of that money they’re making off the backs of poor Americans just trying to fill their gas tanks. Obama, as you know, has really been pressing in the last week or so to end all of those subsidies and tax breaks for “big oil.” Most of us know that it’s just a play to America’s uneducated myrmidons who wallow in wealth envy every day of their lives.
Have you ever put any thought at all into just who owns these companies? It’s one thing for Obama and his leftist, anti-capitalist friends to talk about “Big Oil,” but someone owns those companies, right? Someone is getting rich off of all those profits, right? Those are the people we should be going after!
Well .. let’s look at the ownership of these companies. They’re all corporations, so that means they’re owned by their stockholders. So who owns the stock? I’m pretty sure that you and most Americans think that the majority of the stock in these oil companies is owned by the corporate titans ... the presidents of the companies, their high-ranking officers and, of course, the members of the boards of directors. Well, if you think that 1.5% constitutes a majority of the stock, you would be correct. That’s right ... just 1.5% of the stock in the major oil companies is owned by the corporate management of those companies. Looks like we have about 98.5% of the stock left!
Let’s cut to the chase. The biggest share of the stock in these oil companies, 29.5%, is owned by mutual funds. Now do you happen to have any of your money invested in mutual funds? Why don’t you check with the managers of those funds to see if they have any holdings in Chevron or ExonMobile? Maybe you are one of the people you’ve been slamming as gas prices go up.
Here’s another 27% share of oil company stocks for you .... pension funds. That’s right, pension funds! And we’re not talking about pension funds for rich capitalists. We’re talking pension funds for teachers, firemen, policemen, miners ... what you might call “working class” people. Let’s tax those pension funds a bit more to help us through these tough economic times, right? That’s right – tax pension funds. Are you such an ObamaBot that you don’t realize that when the government seizes oil company profits through higher taxes, that is money that will not be paid to pension funds and other stockholders through dividends? I know most Americans are just that ignorant --- but you are, after all, listening to talk radio, so you really should know better.
The next largest group of owners in oil company stocks? That would be individual investors. Individual investors – like your next door neighbor – own 23% of big oil. These are the people who are working with stock brokers looking for places to invest their hard-earned money. They really should be punished for investing in evil big oil, don’t you think?
The next largest group is IRAs. IRAs account for 14% of all outstanding shares in big oil. Again --- maybe you think it would be a better idea if the money being earned by these IRAs would be better off being spent by Obama and his pals on some grand new entitlement program.
The last 5%? They’re listed as “other institutional investors.” Maybe some of these are foreign investors. Who knows? One thing for sure --- this 5% needs to be punished as well, right?
Actually … what Obama may really be after here is looking for an excuse to nationalize big oil. After all, any business so thoroughly evil yet so essential to our economy really should be put under complete government control, right? After all, 15 out of the 16 largest oil and gas companies in the world are owned by governments, the largest being Saudi Arabian Oil Co. with 19.19% of all proven worldwide reserves. ExxonMobil controls less than one percent of worldwide reserves … clearly a behemoth that must be brought to its knees.
That’s enough numbers on evil big oil for today …. Obama will continue his demagoguery against the oil companies as the price of gasoline continues to rise