Exxon Chief: We’re Getting Rich on Behalf of the American People
Ah Capitalism, you sick bastard.
Faced with calls to share the oil industry’s 2022 windfall with the American people, Exxon CEO Darren Woods says he’s doing just that — in the form of a big dividend payout to shareholders. No really. I’m not kidding. “There has been discussion in the U.S. about our industry returning some of our profits directly to the American people,” says Exxon Chief Executive Officer Darren Woods. “That’s exactly what we’re doing in the form of our quarterly dividend.”
It is astounding to think that trickle down economics can be so wrong for so long and yet still have supporters among the nation’s broke-ass losers.
It is almost as if they don’t care about economic outcomes so long as the right people are being more abused than they are.
It’s worse than that. They’re saying the shareholders = the public.
Nationalizing the oil companies is humanity’s only hope.
Nationalizing oil companies would only create an income dependency cycle that would prolong fossil fuel use. It’s just like gambling income, i can’t see politicians willing to turn off the pump and lose a dependable revenue stream. At least in the present moment there is the potential for checks and balances
The point isn’t to pump it, it’s to leave it in the ground. That won’t happen under private ownership, and everyone knows it. Checks and balances isn’t getting it done, and it won’t in the future, either.
Nobody is going to stop pumping under capitalism, so you’d better hope that reincarnation isn’t a real thing, because you wouldn’t want to live in the hellscape to come.
Living in the age of the triumph of Reaganomics, with the rich paying little or nothing in taxes and oligarchs on an eternal rise, it begs the question Have We Learned Nothing? It would seem not as we are repeating the same mistakes that fueled the first Gilded Age of unrestrained capitalism, and astounding accumulations of wealth by the few. It will not end well and before it’s done suspect we’ll all be eying the exit.
A rising tide lifts all the yachts, or
Let them eat cake!
To which I add “The tax cuts will pay for themselves with increased revenue!”, the “Laffer Curve” and “the rich work harder and smarter”. Assuming they work at all.
They KNOW they won’t work–except for those who are already rich.
You know the Republican talking point will be this somehow benefits seniors, because pension funds.