In case you were wondering who is in charge here

It's the oil companies. Want proof?

(AP) PASADENA, Texas -- Three commissioners appointed by Gov. Rick Perry may grant some of the nation's largest refineries a tax refund of more than $135 million - money Texas' cash-strapped schools and other local governments have been counting on to help pay teachers and provide other public services.

Just in case you had any doubts. But don't let this stop you from supporting the Governor! No indeedy.

after all, unlike G.W. Bush, he is the real thing when it comes to being Texan.

Without Comment

[from Yahoo's new Upshot site]

Coming to a beach near you soon

If you are on the east coast, or the Gulf coast, you may be making plans for a fun filled week at the beach this summer.

Don't.

Without Comment

"FROM a purely financial standpoin there’s no doubt that Exxon’s business strategy has paid off. Despite the broader economic turmoil, Exxon is worth around $375 billion — more than General Electric, Bank of America and Google combined — making it the world’s largest corporation.

Its balance sheet is pristine and its credit rating is better than that of most governments. If Exxon’s revenue were stacked against the world’s G.D.P.’s, it would rank between Austria and Greece as the 26th-largest economy. As oil prices peaked this summer, the company once again set a record as the most profitable American corporation, earning $14.8 billion in the third quarter. Since 2004 alone, the company has rung up profits of about $180 billion."
New York Times.

Drilling: The view from Russia.

That would be the very big country growing powerful enough off of its oil money to tell us convincingly to mind our own business in Georgia. That's it right up there next to Alaska. Here's a little anecdote from Tom Friedman:

Palin’s nomination for vice president and her desire to allow drilling in the Alaskan wilderness “reminded me of a lunch I had three and half years ago with one of the Russian trade attachés,” global trade consultant Edward Goldberg said to me. “After much wine, this gentleman told me that his country was very pleased that the Bush administration wanted to drill in the Alaskan wilderness. In his opinion, the amount of product one could actually derive from there was negligible in terms of needs. However, it signified that the Bush administration was not planning to do anything to create alternative energy, which of course would threaten the economic growth of Russia.”

Of course, Edward Goldberg may have gotten the story wrong, or Tom just made it up. After all, he works for those bozos at the New York Times.

Gas prices: Coolest map ever

Depressed by the fact that gas costs about $3.75 a gal? This little map showing you how much it costs elsewhere will show you that by world standards the American oil companies are practically giving it away! [thanks, once again, to Andrew Sullivan for the link].

I can't understand why the oil companies (and the Republican party) haven't used this in their ads.

Exxon Mobil update

Interesting take on offshore drilling and Exxon over on Salon.com. It tries to explain why Exxon, with record breaking profits, is desperate for offshore drilling. It seems their ability to pump oil has been decreasing all around the globe (ie Congress is not to blame - it's a worldwide problem).

Offshore drilling will have only a trivial influence on the price of gas and will not decrease U.S. dependence on foreign oil one whit. Only a massive reduction in demand and the development of alternative sources of energy will achieve such a promised land. But even just the prospects of increased production could do wonders for the share price of Exxon, should the oil company get some new leases.

Exxon's executives must currently be tearing their hair out at their inability to increase production when the price of oil is at an all-time high. Because, as the events of the past few weeks have demonstrated, when the price of oil gets high enough, demand destruction follows, and the price inevitably drops. And suddenly, $11 billion in quarterly profits is ancient history.

From that point on the post becomes an ugly rant against the energy policy of the Bush admin and I certainly wouldn't want to be a party to that.

it's too easy, for one thing.

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