Take a moment today, this Memorial Day, to reflect upon those that have given their life in defense of our freedom, for their spouses and children left behind, and their brothers and sisters in arms who were charged to carry on the good fight and bring the fallen home.  We owe a debt that can never be repaid.

Not satisfied with their April Fools day hearings with the oil executives, Congress once again brought the oil companies to the mat in regards to rising oil and gas prices, and the mentality hadn’t changed. Senator Dick Durbin summed up the Congressional opinion by saying, “We’re about to fall into a recession… doesn’t it trouble any of you when you see what you’re doing to us?” So obviously, the oil companies were not in for a friendly chitchat this week.

So the question is, who really is at fault here? For many members in Congress and the general public, “Big Oil” is guilty because they are making record profits when oil and gas prices are rising to record levels. For the oil companies, they blame the market and indicate that Congress is not helping the situation any. As for me, EVERYONE is to blame!

Ok, so that’s not particularly fair for me to say. Many in the public have no choice but to buy gas for their cars, regardless of the price at the pump. Oil companies cannot control the price of oil when OPEC can control a good deal of the oil supply that the world consumes, nor can they control market speculators that drive up and down the price per barrel. Congress cannot tell oil companies to drill more or foreign nations to export more. Yet there is blame to be handed out.

Starting with us, we can do a better job in the way we consume energy. As I discussed in the Earth Hour article, we can turn off lights we don’t need, wash larger loads of clothes, drive our cars less and/or carpool, and so on. Oil companies can continue to explore the world for new sources of oil and us modern drilling techniques to maximize output from existing wells. Congress can relax restrictions on where oil companies can drill domestically and change our refining laws to improve efficiency.

These are overly simplified changes, but I have a good reason for that. I am currently putting the finishing touches on my energy reform proposal, which I should have posted by this weekend. So, I guess Congress gave me an excuse to shamelessly plug my own work! Thanks Congress (for once).

Anyway, I have to disagree with Senator Durbin. The oil companies do make record profits, but that is due to the record amount of money they invest into the industry. If my goal is to have a 10% profit off my investments in whatever work I do, then the amount I invest will dictate how much I make. If I invest $10, my profit will be $1. If I invest $10Trillion, then my profit will be $1Trillion. So if the oil companies, who invest heavily into their own industry, should be entitled to make their 10% in profit, right? But because of the sheer dollar amount (not percentage) in profit, they are tarred and feathered in the public eye. So obviously, oil companies make the most in percentage profits, right? WRONG. Let’s take a look at the list.

Real Estate Investment Trust (REIT):
#2 - REIT - Health Care (48.5% profit)
#4 - REIT - Office (35.9%)
#6 - REIT - Industrial (29.2%)
#12 - REIT - Retail (20.3%)
#23 - REIT - Diversified (15.2%)
#37 - REIT - Residential (13%)
#48 - REIT - Hotel/Motel (10.6%)

The mining industry:
#8 - Silver (22.7% profit)
#11 - Industrial Metals & Minerals (21%)
#13 - Copper (19.8%)
#56 - Gold (10%)

Alcohol and Tabacco:
#15 - Tobacco Products, other (19% profit)
#19 - Beverages - Wineries & Distillers (15.9%)
#32 - Cigarettes (13.7%)
#51 - Beverages - Brewers (10.5%)

Oil and Natural Gas:
#26 - Oil & Gas Drilling & Exploration (14.8% profit)
#28 - Independent Oil & Gas (14.4%)
#58 - Major Integrated Oil & Gas (9.6%)

So as we can see, it isn’t a case of the oil companies fleecing the consumer with high gas prices, but rather the sheer volume they handle and the amount they have invested into their industry. Why aren’t the financial institutions, mining companies, and controlled substance producers being brought before Congress for their high profit percentages? It’s simple: their profit figures don’t look so impressive on the books.

If Congress was so concerned about the general public and rising gas prices, they would spend less time abusing the oil companies and more time providing the companies the policies and tools needed to build new refineries, increase domestic exploration, and produce the needed grade of gas needed by the public without quotas or other restrictions. Unfortunately, that would be “progress,” something “congress” seems to be against … at your expense.

For some additional reading, check out these sites:
The Seattle Times - “Oil execs to Congress: Don’t blame us”
The Wall Street Journal - “Big Oil and Lawmakers Spar Over Supplies”
Reuters - “Congress grills oil execs on record pump prices”
The Baltimore Sun - “Senators hammer top oil officals”
National Review Online - “Congressional Oil Cartel”

For some additional reading across the web, check out these blogs:
Vulcan’s Hammer - “Exxon Income Taxes Set All-Time Record of $9.3B”
Matt-Speak - “Gasoline: Who’s gouging whom?”
Red (State) Right Hand - “Do-Nothing Congress Grills Oil Executives: Gee, Thanks.”
Infidels Are Cool - “Oil Execs To Congress: Let Us Drill At Home”
Mike’s Open Mic - “The high price of oil.  Congress does not get it!”

Hillary Clinton will win Kentucky, Obama will win Oregon.  So for the lack of details this time, because the outcome really isn’t the main issue of this post.  After tomorrow, Obama will (by most estimates) have enough delegates to safely claim that he “won” the nomination.  So, is it time for Hillary to call it quits?

Obama currently has 1951 delegates, 75 short of the 2026 needed to clinch the nomination according to the Democratic National Committee.  Polling for the two states show that Obama is expected to pick up roughly 50 delegates, leaving him 25 short of the magic number.  With four contests remaining after tomorrow with over 85 pledged delegates up for grabs, and plenty of superdelegates outstanding, it will be highly improbably that Hillary can win enough delegates to clinch the nomination, and she knows this.

Her current strategy is “winning” the popular vote, which plays to her advantage because she has won more states with primaries while Obama won more states with caucuses.  While the numbers game does sound somewhat credible, it is a change of the rules in the middle of the game.  This includes her argument that Florida and Michigan should have their delegates seated, even after she and the rest of the candidates agreed with the DNC that they should have their delegates stripped early on because they violated the party rules.

So when does Hillary call it quits?  Should she call it quits at all?

Details are still coming in, but Senator Ted Kennedy has been hospitalized this morning following two seizures while he was out walking his dogs.  He is under observation to determine what caused the seizures and to see if there are any major medical problems to be addressed.  Keep him in your thoughts and prayers, even if you don’t agree with his politics.  After all, he’s a human just like you.

More information will be posted below once it is released.

$40!  Yes, that is what this post is about. 

$40!  This is how much money you have helped me raise over the past year through advertising on this site. 

$40!  It’s not much, especially when you consider my hosting fees (and the time I put in to writing the articles here). 

$40!  So in honor of this milestone, I’ve decided to donate this money to the Arthritis Foundation in your honor. 

$40!  While it might not be much, when it is combined with all the other “$40″ donations out there, it can mean a lot for those suffering from this disease.

Keep up the good work!