April 29, 2010

We are mesmerized by Goldman Sachs being called on the carpet for betting against their customers and in the process making over three billion dollars in profits from these hapless people. However, we need to expand our inquiring minds to conjecture who else may have made unjustifiable profits in our economic meltdown epoch.

Exxon Mobil managed to overturn the 1911 US Supreme Court ruling that broke up their predecessor by catching the Federal Trade Commission and the European Commission suffering from a bout of groupthink. These governmental organizations permitted the development of an oil oligarchy replete with uncontested taxing powers to act like a monopoly by raising gas prices in the midst of the onslaught of Great Depression II.

The Great Chinese War Philosopher Sun Tzu teaches, “Warfare is the Way of deception. . . When [your objective] is nearby, make it appear as if distant; when far away, create the illusion of being nearby.” A holistic look at the Impeachment of Former President William Jefferson Clinton suggests that it may have been a Republican Party ruse to enchant the national and international news media while a small group of people contracted to monopolize the world economy by exploiting the power of oil as an economic linchpin. 

A Republican controlled US House of Representatives voted to impeach President Clinton on December 19, 1998 while the Exxon Mobil deal was signed off on December 1, 1998.   Clearly, the Republicans had neutered President Clinton’s Presidential persona because the media was consumed with the scandal of a Presidential sex escapade with Monica Lewinsky – a consenting young adult. We need only look at today that many politicians and celebrities are caught up in sex scandals to realize that the Clinton / Lewinsky affair was one where the young lady was overwhelmed with excitement with a sinful interlude with the President that mistakenly shared her emotional feelings with a purported confidant.

On November 30, 1999 the Exxon Mobil merger was consummated.  In less than ten years Exxon Mobil sales went from 185.5 billion dollars in 1999 to 459.6 billion in 2008.  The trend line in the chart “Exxon Mobil Yearly Sales” suggests that they plan to continue dictating the energy market. Some gasoline prices have crept back over three dollars per gallon here in the State of Delaware.

The oil industry must believe President Barack Obama got beaten up severely in the propagandized healthcare debate, so now it is safe to move gasoline prices back towards four dollars per gallon which would favor Republican candidates because people vote primarily on their pocketbooks. A return to four dollar per gallon of gasoline would surely have the Democrats feeling American voters’ wrath in this Midterm Election year.

During the propagandized healthcare debate you would have thought a trillion dollar tax burden was a yoke that our children and grandchildren would find as an albatross that they may never shake off in their lifetimes.  Yet the Exxon Mobil oligarchy managed to force over three trillion dollars out of the personal spending of the world in ten years which may have provided partial cause for why the American automobile industry has been teetering on bankruptcy and housing foreclosures are a national disgrace.

When you look at Exxon Mobil net profits you see they went from 7.91 billion dollars in 1999 to a high of 45.22 billion in 2008. The Exxon Mobil profits skyrocketed by 5.5 times their 1999 level (first year of the merger). The trend line in the chart, “Exxon Mobil Yearly Net Income” suggests that they plan to continue making profits at a record level. The cumulative sum of the Exxon Mobil profits from 1999 through 2009 is 279.99 billion dollars or over one quarter of a trillion dollars.         

The debate on regulating the financial industry has the nation debating the issue of businesses too big to fail. The other side of that coin is reincarnating the 1911 US Supreme Court ruling; thereby, breaking up the Exxon Mobil oligarchy to reawaken competition in the energy markets. The original US Supreme Court ruling broke up the Exxon Mobil predecessor into 34 companies. Will we see some backbone shown by today’s Federal Trade Commission and European Commission to reverse their debilitating decision to allow de facto monopolies to form in the energy industries?  Do we need to look closer into the modus operandi of these commissions to determine if some present and pass members have what Judge Judy labels as dirty hands in the courtroom? Should we continue to allow nongovernmental oligarchies to tax our pocketbooks? Do you think Al Qaeda is exploiting good old American greed as a cause for instability to maintain high energy prices to help to finance their war effort?

I guesstimate that Exxon Mobil managed to get one trillion dollars more in sales over the period 1999 to 2009 than a free market would have justified. My guess also is the Republican Party will find the nation unforgiving if my analysis is remotely on target. Thus, attempts to discredit me or my family should be looked upon as proof that my analysis is right on target.