Important Articles

An article on the New York Times website today talked about elderly losing aid because of the high fuel prices government agencies and volunteers face. Meals On Wheels, transportation assistance, and home care all suffer. Over 90% of agencies contacted stated they will make even more cuts in 2009.



But hey, as long as Exxon Mobil, and the other bigs can make record profits, so what if tens of thousands of elderly Americans suffer? I guess we are supposed to be impressed by Exxon’s investment of $20 billion or so on exploration and development. But unless I don’t understand how accounting works, isn’t R & D an expense? So the net profit is still nearly $40 billion after R & D. Talk about robber barons.



And what do the oil companies do with their obscene profits? Well, at least some of it is spent buying back stock, so next year’s profits can be even more obscene. Much of it goes back to stock holders. Yes, some of the stock holders might be you and me through our pension or 401(K) programs. I suspect that a lot more of the dividend goes to the limo riding executives of the big oil firms, than funnels into my retirement program, or into your retirement program.



Do big oil firms actually make large donations to charity? Of course they do. Should they do more? Given that much of the economic turmoil is a result of high energy prices, I would think that appropriate. Maybe a billion or two less could be spent on buying back stock, or on dividends. Actually that seems almost like chump change to the oil companies.



But that amount given to agencies throughout the U.S. would help elderly diabetics get the regular meals they need, and now aren’t receiving because volunteers can’t afford gasoline to deliver them. And maybe rural cancer patients could be transported to big city hospitals to receive necessary treatment.



We are celebrating 4th of July this weekend, the birth of an ideal that formed the greatest country in the world. I am proud of Americans who work hard, and try to do right for their families. The America of greed and huge gaps between the haves and have nots saddens me.