The Irony Of Oil Industry Subsidies And Jay Rockefeller

About a week ago, the five major oil company executives appeared before a Senate committee to defend their right to retain government tax breaks, despite all time profits in the industry, as oil and gasoline prices continue to rise.

There was outrage that the executives, or at least the Conoco Phillips CEO, said it was “UnAmerican” to take away the billions of dollars of subsidies, at a time of budget deficits and the nation on the brink of a showdown on raising the debt limit.

Particularly notable was the condemnation of the industry leaders by Democratic Senator Jay Rockefeller of West Virginia, whose great grandfather was the original oil baron, John D. Rockefeller, the so called “Robber Baron” of the late 19th and early 20th century!

It was a wonder to behold Senator Rockefeller being outraged at the abuses of the industry! It brought back memories of the Gilded Age of the late 19th century, which so much resembles what has been going on in America since the Age of Ronald Reagan in the 1980s!