Rush Limbaugh Program - April 27, 2006, Thursday, Hour #2

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April 27, 2006 - Rush Limbaugh Program

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April 27, 2006, Thursday, Hour #2

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	And America's anchor man is back.
	I am firmly ensconced here in the prestigious Attila the Hun chair at the distinguished Limbaugh Institute for Advanced Conservative Studies.
	We uh together have more fun than human beings should be allowed to have.
	It's the uh Rush Limbaugh program at 800 282-2882.
	The email address uh rush at EIBNet.com.
	This is really gonna make people mad.
	The oil companies are rejecting these accusations that they are gouging.
	That's gonna really make it when Senator Durbin accuses you of gouging, you better agree with it, or they're gonna they're gonna even do more than want to see your books and uh force you to give your profits away.
	We've got the uh the numbers here for Conaco Phillips.
	Their profit uh in the first quarter was three point two nine billion compared to ExxonMobil's 8.4 billion.
	And so we can figure that the federal government made about let's round this up to 3.3, so $6.6 billion on the uh on the in fact the you know what?
	I'm I'm I'm shooting low on this.
	Start this again.
	ExxonMobil's profit was $8.4 billion in the first quarter, and there's nine cents uh per gallon uh of profit uh in uh in the uh in the sale of a gallon of gasoline.
	So it's easy to figure that the federal taxes are eighteen cents, so the feds get twice what the oil companies get in their profits, so the 8.4 billion profit for Exxon Mobil translates to 16.8 billion that the feds get.
	But ExxonMobil then pays taxes on their profits.
	So that 18 point uh or 16.8 billion is actually larger by the time Exxon pays its taxes.
	Same thing with uh Conaco Phillips.
	And of course, the the drive-by media is is is playing right along with this because the profit is is one thing.
	Uh, but it's the profit margin that you actually need to look at, and that's where you can find gouging.
	Now, the first quarter 2004 profit margin uh for for most of big oil is about eight percent.
	Uh this first quarter it was nine point four percent.
	Uh the first quarter, two thousand four, I should say.
	First quarter two thousand four was about eight percent, and uh the first quarter this year, two thousand six is nine point four percent.
	So that's an increase of fourteen percent in the profits profit margin, uh, with an increase of uh revenue of twenty-four percent.
	Um they they they're taking in a lot more run uh money, but their expenses uh eat up almost half the gain.
	So if you if if you wanted to suggest that they're gouging, you would have to say, you'd have to find evidence that their profit margin is skyrocketing, and the profit margin is not.
	Just looking at the number of uh dollars in the raw profit, uh, you know, that's the simpleton way, and that's that's the way everybody all you know ticked off and everything.
	It's a big business for crying out loud.
	It's uh it's a big big what do they do with all the prof they give it to the executives when they retired is what they do with all the profits.
	I don't know what they do.
	They pay it to their stockholders.
	They're publicly traded.
	You know, Exxon shares uh the this profit uh adds a buck thirty seven to the average Exxon shareholder per share.
	That's that's one of the things they do with it.
	I'll tell you, economics education is so um woefully inept.
	Uh by the way, uh uh ladies and gentlemen, uh uh there's a there's a Democrat coming to your door this year.
	Um the Democratic National Committee says that volunteers will go door to door in all 50 states on Saturday to share the Democratic Party's bold vision for America and begin a series of conversations with the American people about the upcoming election.
	It's like the Jehovah's Witnesses do this now and then.
	So the Democrats are using a religious group as their as their model.
	They did this in 2004.
	I was up in Connecticut.
	I was I was up there on a golf trip with some friends.
	We're having dinner one night.
	There's about eight of us, and a doorbell rings, ding dong.
	Um, and and one of the uh one of the guests, not the hostess, uh, goes up and answers a door, is gone for about five minutes, comes back and says, You never believe who that was.
	It's some some some young kid uh with a fact sheet on why John Kerry's great for America and why Bush is gonna destroy the country and so forth, and with a rush here, I couldn't very well let her in.
	So with me, here is why you should have.
	So we all left the dinner table and we went scouring the neighborhood trying to find this little Democrat door-to-door uh uh uh snake oil sales.
	We couldn't find her.
	We found a little car.
	You could tell which car was hers.
	A typical liberal mobile.
	Uh, but we uh we never did find her.
	They're calling this neighbor to neighbor organizing day part of the DNC's effort to gear up for the O six elections.
	Uh our our national organizing day will bring together neighbors and communities as we mobilize for the fall elections to make sure that Democrats are elected up and down the ticket throughout America.
	Uh the whose um who is saying this?
	Howard Dean.
	Howard Dean said Democrats who knock on doors will tell their neighbors what Democrats stand for, our vision for change, and the clear choice voters will face in November.
	That'll probably take about 20 seconds.
	And then after that, they'll start bashing Bush.
	I've been there.
	I've seen this.
	In fact, I was in Atlanta one weekend and I was walking around and I and and uh did a little dog walk and ran into two of these canvassers.
	They're going door to door, you know, trying to sell the uh story of John Kerry.
	So Democrats uh repeating a losing strategy uh this Saturday.
	Just wanted you to be uh uh aware and if if they knock on your door, have fun.
	Invite them in.
	I mean, it's up to you, but um.
	Well, there's a there's a uh stolen car, and the cops are chasing this stolen car in Fort Worth, Texas.
	I'm watching this on Fox.
	The odds are that the person who stole a car is listening to this program.
	Uh if you are driving the stolen car, everybody knows you stole it, everybody knows who you are.
	Make it easy on yourself and just pull over.
	Uh really, you don't want to cause any injuries.
	We know you're listening, everybody driving does.
	Uh, listen to this program, so just pull over, pull pull pull into a gas station, uh uh uh uh do something.
	Uh uh claim that the the make make whatever you're doing the reason for it, gasoline price or something you have a chance, uh but it but pull off.
	Speaking, speaking of this, here's a Reuters story out of Los Angeles.
	Some California drivers are resorting to desperate measures uh to beat the surge in gas prices at the pump.
	They are deliberately running out of gasoline on the state's freeways, and they s they just wait around for rescue.
	Uh every time fuel goes up, we start noticing it.
	But right now we're noticing it a lot more, said Andy Lujan, uh owner of California Coach towing in Orange County.
	Lujan's 20 trucks roam the busy freeways of Orange and LA counties as part of a publicly funded patrol that gives a free gallon of gasoline to drivers who have run out.
	It also offers the basic assistance to other basic assistance to drivers whose vehicles have uh broken down.
	Gas prices in California, where the car is king, are some of the highest in the nation, more than three dollars a gallon, and uh and rising.
	Um just you just did just d that Mr. Snerdley, you even said that people are hurting out there.
	This makes total sense that people would run out of gasoline on purpose for a free gallon of gas.
	At LA prices, three bucks, three fifty a gallon.
	Hell yes, makes total sense.
	It's a scam, but people are running it.
	Free gallon of gas.
	Well, now I'm you're the one yesterday that kept badgering me about people being hurt.
	You ought to be supporting the program.
	You ought to be applauding the ingenuity of these people.
	Instead, you can't believe that they would go to all this trouble for a gallon of gas.
	Three for three bucks, two fifty, three fifty.
	What's what's the difference?
	It's it's people are hurting out there.
	You said it yourself yesterday.
	When people are hurting, they take drastic measures.
	They take drastic action.
	They're not gonna stop going to Starbucks, they're not gonna stop going to Blockbuster, they're not gonna stop buying their plasma TVs, but they will run out of gas for a free gallon.
	You gotta learn how the American people think, Snerdley, if you're gonna continue to be the official program observer here.
	Let me grab a quick phone call because Don in Brighton, Michigan's been waiting a while.
	Don, great to have you with us.
	Welcome to the show.
	Thank you.
	Enjoy every day.
	Thank you.
	Uh great article uh editorial by the Detroit News.
	Grand homes oil profit cap will damage pension funds.
	Online petition drive would cheat state retirees.
	Governor Jennifer Granholm's grandstanding to get oil company profits capped is not only misguided and misinformed, it's bad for Michigan, particularly the state retirees.
	Um the pension system for the state workers, probably school employees, judges, and state police is about two and a half billion dollars invested in energy companies, including twelve point eight million shares of Exxon Mobile worth eight hundred and thirty-two million dollars, the largest holding in the state portfolio.
	The treasurer the treasure the treasury spokesman Terry Stanton, yeah, actually a Democrat says, well, the administration is not saying all companies shouldn't be profitable, but there's a concern about too much profit.
	Yeah, of course.
	She's a libs, the socialist, of course, there's a concern of too much profit.
	Now, state Republican Party Chairman uh Paul Inusis, Solonus, I'm sorry, uh, countered this shows there are real life ramifications for her political posturing.
	This affects every state employee.
	Absolutely.
	That is such a great point, and Don, thanks for the call.
	Uh the the pension system for many public employees in Michigan is invested to the tune of twelve point eight million shares in ExxonMobil.
	And so people's retirement packages and a lot of people are no doubt invested in Exxon in their 401ks or just in their portfolios.
	And here come these clowns wanting to lower the value.
	We're already got pension reform questions in this in this country, pension problems.
	Uh and so, yeah, let's let's just jump on a successful company that is contributing to the growth of pensions, uh, and let's punish them.
	Uh that editorial is right on the money because there are ramifications to all of this that uh that the the that nobody stops to think about.
	Thanks again, Don, for the phone call.
	We'll take a quick timeout and be back after this.
	You know, as I mentioned yesterday, folks, it's not just Exxon Mobil and big oil that are experiencing uh great economies uh and uh lots of profit.
	The economy is good.
	A lot of companies have profit.
	Microsoft's profits thirty-eight percent.
	Nobody cares.
	Uh and don't give me this uh you don't need uh you don't need Microsoft everyday business like you need oil.
	Don't it is not the point.
	Uh just try these headlines.
	Uh Glaxo Smith Klein profits surge in first quarter, big drug.
	Uh Siemens beats expectations in second quarter.
	I's one point eight six billion dollar U.S. deal.
	Jackpot, Harris first quarter income jumped seventy-five percent.
	Foreign businesses still gung-ho about USA, CEOs say.
	This is uh in USA Today.
	There's all kinds of great economic news out there.
	But a Senate committee on Wednesday announced an investigation into taxes paid by big oil and asked the IRS for the company's tax returns.
	The Senate Finance Committee promised a comprehensive review of the uh federal taxes paid by the oil companies on their record profits last year.
	Senator Charles Grassley at Republican Iowa, the committee's chairman said the panel was concerned about high profits and executive compensation at oil companies.
	I want to make sure the oil companies aren't taking a speed pass by the taxman.
	That embarrasses me.
	It it it just embarrasses me that Republicans are leading this effort.
	And it's just pure election year politics.
	Matt in uh in Redlands, California.
	I'm glad you waited.
	Welcome to the EIB network.
	Hello, Rush.
	It's an I. You know, the Democrats believe that they're going to win November elections just by riding the wave of anti-Republican feelings due to these high oil prices.
	But I think the Democrats must have been shocked when yesterday's NBC Wall Street Journal poll showed that in just the last month, when asked who they plan to vote for in November elections, the Democratic lead over the Republicans has been reduced from thirteen points to six points.
	And I believe the main reason for this Democratic fall in the polls is that uh if you remember six months ago, Howard Dean promised Tim Russard on Meet the Press that the Democrats would come out with a political plan other than attacking Bush.
	And here we are six months later, and the Dean Dean and the Democrats still haven't come up with a plan other than bashing Bush, except for now they're also bashing the oil companies.
	Well, except that is the plan, bashing Bush.
	Uh they they uh they're they're they don't they don't intend to come up with a plan.
	He's talking about no, we mentioned this in the first hour, and I'm glad you brought this back up, Matt.
	He's talking about the generic ballot.
	The Democrats did have a thirteen-point lead in the generic ballot, but and this is for Congress.
	But let me tell you something.
	I th I can't remember the two thousand two, two thousand uh four, They also led in the generic ballot going, but they never win.
	The generic battle is just that.
	But when you start attaching names to the generic ballot, all it all the generic ballot is you're going to vote for Democrat, you're going to vote for Republican for Congress.
	Oh, I'm going to vote Democrat.
	The Democrats seem to always win these generic ballots, but when the real voting comes, um, they they haven't uh lately.
	And it I don't know that it's so much uh that they don't have a plan.
	It's it's it's who they are.
	You know, they're not being helped by people like Harry Reed and Nancy Pelosi.
	They're not inspiring people.
	They're not they're not inspiring uh uh uh people to join them.
	Uh and by the same token, Matt, uh the the this this negative drumbeat that's coming out of them and has been coming out of them for five years is not inspiring either.
	Why do you think they're they're on the wrong side of immigration?
	They're making a big push to try to get as many illegals in the country as possible so they can turn them into voters, and then they're trying to legalize uh convicted felons as uh as voters.
	Uh that's their outreach.
	Uh and and people notice this.
	So now they've got to be shocked, I am sure that they are shocked when they saw the thirteen go down to uh go down to six.
	John in Lima, Ohio, you're next on the program.
	Great to have you with us.
	Hi, Rush.
	Hi.
	With China and Cuba going to be drilling for oil in the Gulf soon.
	Neither one of these countries has the environmental record that we have.
	They don't have the environmental controls we have.
	If there should be an accident, how many weeks is it going to take China to get a fleet here to clean it up, or how many years will it take Cuba to build a fleet to clean it up?
	If there is a problem, they're going to depend on us to clean up their mess.
	No question about it.
	We're not going to wait for China.
	We're not going to let China send a fleet here.
	Except wait, they own the ports.
	Uh in the Panama Canal, so we can't stop them.
	Too bad they could send a fleet here.
	Uh uh.
	That's true.
	It's it's true.
	That's an excellent thought.
	What happens when they botch it and there's a spill down there?
	Uh I want to know where the environmentalists are.
	I want to know where the environmentalists are saying, no, you can't do that.
	And I and of course they won't tell Castro that Castro's from such a lovely uh paradise island nation, the best health care in the uh Western hemisphere.
	But a poor nation, uh rice cookers is about the only appliance half the population has.
	And so we understand their need to get into the uh the big oil club of the world to balance the power between the evil uh superpower United States.
	They're not going to oppose it, and they're not gonna oppose the uh the Mexicans doing it uh uh either.
	All right.
	Do you remember back during the nineties when Bill Clinton couldn't tell the truth to save his life?
	Lying big, small, white, black, whatever, telling lies all over the place.
	We got stories eventually from the mainstream media about how lying is good.
	It will spare people hurt feelings, and uh uh it it actually is a very compassionate thing to lie at the right time to the right person about the uh uh right things.
	Well, from the University of Chicago Press, we have a book here.
	This is a book review uh in the Washington Post, uh a positive take on negative advertising.
	If you're one of those Americans who cringe every time they see a negative political ad on TV, John G. Gere is not your cup of tea.
	Gear of Vanderbilt University political scientists has set out to challenge the widely held belief that attack ads and negative campaigns are destroying democracy.
	Quite the opposite, he argues.
	Uh in his provocative new book, Negativity is good for you and the political system.
	Now, uh the story goes on to have some details here.
	Negative ads, he says, are far more likely to be about substance rather than personal attacks and are more likely to be supported by documentation than are positive appeals.
	Now, I know people say there's an axiom, the cliche that uh don't expect negative advertising to go away anytime soon because it works.
	And there's no question that it works.
	But I'm curious about the timing here.
	Uh uh, right in the midst of the 06 elections.
	I don't know, Mr. Geere, but I I find it interesting that when we are in the midst of perhaps the most mean-spirited, baseless, personal, negative day-in and day-out presentation of the news by the drive-by media and the Democratic Party, that we now get a book saying that's pretty good for us.
	That's good for us.
	So we can benefit from this.
	It's very substantive.
	Now I know he's talking about ads, political ads here.
	Uh, but there's nothing substantive to the Democrats' attacks.
	That's the point.
	It is all personal, and it's all based on a foundation of falsehoods, untruths, prevarications, and for those of you in Rio Linda lies.
	And yet uh this is this is good for us.
	Uh has the potential to be good for us.
	That's awfully similar to the kind of things we heard about lying being good for us in the nineties.
	That's uh what we do here, uh folks.
	We make the complex understandable.
	Now I am reminded by uh Mark Ward from Carson, California, is a subscriber at rushlimbaugh.com and thus has the super secret email address to get straight to me.
	Says Russia, using the ExxonMobil $8.4 billion profit as if it came entirely from gasoline sales.
	It doesn't.
	Only forty-six point four percent of each barrel of crude is refined into gasoline.
	The oil company profits come from a lot of they sell jet fuel, they sell a number of other things.
	Uh still the feds are getting taxes on every product produced from each barrel of crude.
	Um it's about nineteen nineteen what is it gallons uh of every barrel that uh actually is devoted to refining gasoline or is refined as a gasoline.
	There's all kinds of you know, we wouldn't have crayons.
	Your kids wouldn't have crayons without big oil.
	It's a petroleum product.
	I'm sure people don't care about that.
	Have you checked the price of crayons lately?
	Sean in San Diego, uh great to have you on the program.
	Nice that you're with us.
	Hello.
	Mr. Limbaugh, it's an honor.
	Thank you so much for taking my call.
	You bet.
	I have a quandary.
	This morning I received a forwarded email that had a suggestion on it as how we as consumers could possibly lower the cost of gasoline.
	And it suggested that we boycott Exxon Mobil for the rest of the year and just buy our gas like we normally do, but in other places.
	And to me it seemed like, you know, maybe if the supply went up for Exxon Mobil, and then their price would have to drop, and then maybe everybody else's prices would drop a little bit, so it seems reasonable.
	But I want your opinion because I did forward that and I'm starting to feel a little bad about it.
	Well, no, it's just a forwarded email.
	Most people think of it as junk anyway.
	Uh uh in fact, I have a filter on my email.
	Anything that begins with an FW gets deleted.
	And it is.
	I mean, I'm not that's it's all junk, all these FW things.
	Uh it actually came from a friend that I that I admire, so I I took it for at face value and sent it off.
	This is this is shaking up a lot of people.
	Um, you know, I I um uh my my friend that I was in New Jersey with on uh the this honest story, true story.
	I'm uh was in New Jersey on Tuesday, uh, and when I went over to Nick's roast beef in South Philly.
	Uh and by the way, I've got while I'm at it, I'm gonna plug another restaurant because this is in Wilmington.
	We ate dinner in Wilmington on Monday night at a place called uh the Columbus Inn.
	And this place was unique, too.
	They had a great wine list and so forth, uh, great bunch of people running the place.
	But if you're ever in Wilmington, uh and get there fast because the population's leaving.
	Just kidding.
	Just kidding.
	The Columbus Inn, fabulous, fabulous place.
	Anyway, we're driving back the airport, we're in a rental car.
	My friend says, you know, I'm gonna I'm gonna top this thing off uh lower my rental charge.
	So he pulled into a sit go station.
	And I said, Why are we stopping here?
	You know who gets the profit here, don't you?
	He said, No, who?
	I said, Venezuela, this is a Hugo Chavez station.
	Okay, so the point is you go boycott Exxon Mobile, go to Sitco, or go to go to Conico Phillips, go to go to uh uh BP uh mobile, whatever they are BP uh what they've merged with.
	Uh I don't I don't think it's gonna matter.
	You're still you're still we we're all gonna be buying the same amount of gasoline.
	The only way this is gonna work is everybody if anybody buys less, you're still gonna you're still gonna have uh uh the same amount of gasoline being purchased and the theory that this will force Exxon Mobil to lower its price in order to lure customers back, you got a problem with that because the federal government watches gasoline prices and they don't like gas wars, and if gas stations start selling gasoline below profit or before c below cost, then uh feds move in and shut them down, you can't do it.
	You think the government would actually be upset if they lowered prices for any reason right now?
	Damn right they would it.
	Well, they did that, uh if if they if they lowered them uh enough to uh attract business, uh sure, then they'd start investigating gas wars and a number of other things because their tax base would be uh reduced.
	I just uh besides that when I say this, when I say this, the uh I get calls from people in the oil business, and they always tell me I'm wrong.
	But it's just my consumer experience.
	Um I choose gas stations on two bases.
	When I'm out and need some, and which one's closer.
	Brand loyalty, it's it's all gasoline to me.
	I I I've I go to there there are two stations here uh where we live uh uh there are two gas stations without crossing a bridge and going over uh to the dreaded mainland.
	Uh and one of those one of those stations is much closer to my house than the other one is.
	And I can't even tell you what brand it is.
	I think it's Texaco, but I'm not even sure.
	It is Texaca.
	What's the other one?
	Sinoco.
	Yep.
	The other one, yeah, yeah, it's it's it's actually it's it's it's uh it's it's uh north of here.
	Uh Texos south of here.
	I'll actually go someplace will they change my oil or will they'll check it, or will they do my windshield.
	That yeah uh uh Texaco station I go to does my windshield.
	Uh well, I they do it here.
	That's the point.
	I uh that's I but when I'm when I I don't buy gas anywhere but here on the island.
	So I but I don't shop, I don't brand shop in gasoline is my point.
	I don't know who who does.
	Um now you may know your gas station guy, so you go there to patronize him, he's part of the family family and so forth, but my gasoline purchasing habits uh are uh probably uh different than most based on the proximity of uh of stations here.
	Do you do you shop uh for uh brand name gasoline, Sean?
	Is there a particular gasoline you like better than any what any other?
	As a general rule, I go to the mobile because it's the most convenient and it has a car watch that I like.
	But it but if I have if I thought this would actually make a difference, I would go a little out of my way and hit Costco or something.
	I just I'm just looking for a way that I can be proactive that might actually be efficient.
	Um I th I think more than trying to boycott Exxon Mobil, because you realize how many millions of Americans are gonna have to join you in this to make it to make it work.
	I think the better is just don't use as much.
	Cut back your driving if you actually want to uh uh make a difference.
	Uh and remember Hitler made a difference.
	You have to define making a difference.
	If you want if you if you if you want to if you I would just I would suggest driving a little bit less.
	Uh you're you're in San Diego.
	Have you tried the technique of uh of uh running out of gas and waiting for the rescue truck to give you a free gallon?
	I would never attempt that.
	Ah, okay.
	But thank you.
	Thank you so much for your expertise.
	If you think of anything else that we can do to have a positive influence on this dilemma, please share it with us.
	Well, okay.
	Let me ask, since since you seem very you're really interested in this, let me ask you just a a couple questions.
	Why do you think the price is going up?
	Um I think that it's uh a lack of supply and a huge demand.
	Well, there's not a supply problem.
	And we're able to supply what everybody wants, but the price of crude is skyrocketing.
	And I have my theories as to why the market is one.
	You had China and India in the last ten years increase their usage of oil uh and and petroleum products and gasoline uh in the past ten years.
	They're they're they're using as much, I think, as we were using ten years ago.
	I mean, they're and they're and it it's increasing.
	So that's that's that's a huge uh factor on the demand side and the laws of supply and demand, when there's more demand, the price naturally goes up.
	Then you have the commodities market.
	Do you have the commodities market that that is bidding the price up based on factors such as uh potential supply interruptions due to war, uh what's gonna happen with inflation.
	So they're the the futures price uh of oil is is what gets reported here is 75 bucks a barrel.
	If you go to the look at the actual price right now, uh a barrel of oil probably doesn't cost that much, but it will down the road because the futures price is uh is being uh uh bid up.
	Uh I also believe that this lunatic president of Iran, every time he opens his mouth about wiping out Israel uh or or provoking a war with the United States causes the futures market to get all jittery, and they start worrying about the future impact on supply, and that bids the price up.
	There's so many uh factors and big oil.
	The one thing to remember, Exxon Mobile, uh uh uh Conaco Phillips, whatever, they don't set the price of crude.
	They're not the ones that the market sets the price.
	OPEC, uh uh all of these other countries that produce.
	Let me give you the list, Sean, uh from where we get our oil.
	Uh the countries from which we import, and this is uh uh as of two thousand five.
	Eighteen percent of our oil imported from Canada, fifteen percent from Mexico, twelve percent from Nigeria, and Nigeria is shut down because uh they they've got internal political unrest and the oil fields have been shut down, and they're three percent of the world supply.
	We get twelve percent from the Saudis, ten percent from Hugo Chavez, uh, six percent from Angola, five percent from Iraq, three percent from Colombia, three percent from Ecuador, and two percent from uh from the U.K. Uh we use about twenty-two million barrels per day.
	Eight point seven million barrels are our own.
	We import 13.2.
	Uh we can't drill an annual.
	We can't drill any more in the Gulf.
	So we're gonna be more and more dependent on all these other countries.
	And we don't, and and big oil cannot tell OPEC or Canada or Mexico what to charge for a barrel of crude oil.
	That they're they're that's they just can't.
	So uh I I uh if if you really want to have an impact on this, you would uh you would drive less.
	That's what everybody's expecting to happen, but it's not happening.
	People are driving as much as they have been.
	It's hard to change your your way of life.
	Unless you just simply can't afford it.
	I I slept two kids around and drive a long way to work, but I I really was hopeful that this was a a reasonable idea, but I trust your judgment, so apparently it's not.
	Let me ask you the another now, you're gonna consider this uh perhaps a little hard-hitting.
	But I I just I just I wanna I want to try to be as realistic as I can.
	I need to ask you a question.
	If you don't want to answer it, feel free not to.
	Okay.
	But is is the new price of gas what are you paying for it out there, San Diego?
	Uh something like 305 right now, I think I made the other day.
	Is it breaking your bank?
	Is it causing a huge interruption in your lifestyle?
	Are you making uh sacrifices in other consumer areas in order to buy gasoline?
	No.
	I'm not I'm not.
	But I'm I'm I'm very lucky.
	I know many, many I mean, people that work for me are suffering.
	Okay.
	Okay.
	Now I understand that.
	Now, this this is this is the tough love.
	And I hope you recognize it as such.
	If the price is not breaking your bank, and if you want to do something positive and proactive, the first thing you can do is stop worrying about it and tell everybody else who can afford the gas to stop worrying about it.
	Because I think what's happening here is most everybody can absorb it, but they're worried about the effect on everybody else.
	Some it's hurting, like your employees.
	Those are the people you need to be concerned about, and advise them on what to do about it and so forth.
	Uh and then take advantage of this, go out and buy some Exxon stock, donate it to a gas poor family.
	Uh you could go out and buy a smaller car, donate that to a gas poor family.
	Um you could stop using oil-based products that are not necessary.
	There's any number of things you can do.
	But uh, those things will make me feel better, but they won't lower the price of gasoline.
	Uh well, I know welcome to liberalism.
	Uh that's that that's that's exactly right.
	Uh the liberals raise your taxes, uh, it's not gonna help your boss.
	It's not gonna help your employees.
	Right.
	In fact, probably just the opposite.
	But your employees might feel glad that you got your taxes raised, but how is their back pocket improved?
	It isn't.
	So you know, it's it's uh it's something, but uh there are any number of things you can do.
	You can buy less, you can cut back, you can uh you can uh and if you're really worried about it, uh you know, uh uh increase uh or institute a program at your business that compensates uh your employees a certain number of cents per mile that they drive over and above what the gas price was last year.
	Any number of formulas you could work out here to help them out.
	Well, I'm going to keep pondering it.
	And like I said, if you think of anything else and you can share it with me and the rest of the country, I know we would all appreciate it greatly.
	Thank you.
	Thank thanks very much.
	I just I understand the power of boycotts.
	Most of them fail, but the ones that work uh have have near uh uh unified participation.
	And I just I don't know uh uh correct me if I'm wrong, I just don't know how many people uh are brand specific anymore when they buy gasoline exclusively.
	Uh I'm only gonna buy ExxonMobil for whatever.
	I don't think that uh is the case.
	It may be that they only buy ExxonMobil because it's nearby or because the price is right or for whatever reason, but uh brand loyalty is I mean, they're just the biggest.
	There are more Exxon mobile stations out there than anywhere else.
	That's uh they're they're part of big oil.
	So uh I just don't know that a boycott's gonna work because the same total amount of gasoline is gonna end up being purchased and uh end used.
	Quick timeout, folks, a little long here in this segment.
	We'll be back after this.
	All right, I think we still have uh Sean in San Diego listening to the program.
	Sean did some research here in the break, went to the uh the Snopes.com website.
	They are a website that imagines or examines, I should say, these myths.
	They're going around out there and uh they proclaim them true or false.
	They claim participating in a boycott of selected oil companies will lower gasoline prices.
	Status is false.
	Here's the market economic reason.
	A boycott of a brand or two of gasoline will not result in lower prices.
	Prices at all the non-boycotted outlets would rise due to the temporarily limited supply and increased demand, making the original prices look cheap by comparison.
	The shunned outlets could then make a killing by offering gasoline at its normal pre-boycott price, or by selling off their output to the non-boycotted companies who will need the extra supply to meet demand.
	The only person who really gets hurt in this proposed scheme is the service station operator who has almost no control over the price of gasoline.
	The only practical way of reducing gasoline prices is through the straightforward means of buying less.
	That's what they say, which is what I told you.
	But I've got an even better solution.
	If you're really worried about this, folks, you have to understand the reason for the profits.
	Oil companies have profits because of a booming economy.
	So the solution is to run a Jimmy Carter type Democrat for president.
	If the economy were as bad as a Democrats say, oil companies would be having much smaller profits.
	So what we need to do is get a guy like Jimmy Carter from 1976 to 1980.
	It was so bad the oil companies in this country had to capwell shut down.
	The price went down to 1015 bucks a barrel, and they were hurting big time.
	Oil company got laid off, uh, people got laid off, but the price came down.
	So the solution to high gasoline prices is a rotten economy.
	And if you want one of those, elect a Democrat in 2008.
	You want to hear what Jimmy Carter says about the gas price?
	We'll do that.
	He was on Larry King Alive uh last night.
	And we'll uh um play some more sound bites for you.
	We come back.

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