Barack Hussein Obama has just given us yet another reason to not buy Exxon Mobil stock (see Don’t Buy Exxon Mobil).
In Obama’s visit to the Quad Cities (Davenport, Iowa) prior to the Democratic National Convention, Barack was really buddy’n-it-up with the locals. He specifically stated that there was no reason to tax the humble families before him when he could instead tax Exxon which makes Gazillions of dollars (his word, not mine) in [read - undeserved] profits.
I’ll bet Barack doesn’t even know how much or how little Exxon earned in the 2 decades of low oil prices prior to a couple of great years that made the news. I’ll bet Barack doesn’t know the ROI (return on investment) for Exxon Mobil, or whether it’s good or only mediocre. I’m willing to make that bet because I’ll be he has no idea how many Gazillions of dollars Exxon has invested in plant, equipment, research and development necessary to earn those Gazillions in profits. I will also bet he’s hoping those humble families don’t check their 401(k) fund to see if they are actually Exxon shareholders without realizing it.
And if oil prices and/or Exxon profits go in the tank do you think Barack will hand back those taxes and say – “oops, sorry, I thought those profits were guaranteed to you, my bad.” No. Never. Ain’t gonna happen.
Despite the Gazillions in profits that Exxon has reported in the last couple of years, Exxon stock has UNDER performed when compared to other oil giants, or ETF’s of oil companies.
If you get Target stores and Exxon Mobil mixed up, I understand. One has the logo of a target, the other has a huge target painted on it by the President of the United States-in-waiting, Barack Hussein Obama.
So if you want my 2 cents, avoid Exxon Mobil; and avoid Barack Hussein Obama as well.
Note: If you are voting for Obama just to get higher taxes don’t forget you can always send in a check for any amount to the U.S. Treasury and mark “debt reduction” in the memo field; you don’t have to vote for someone who promises little more than hope for a better future and a guarantee of higher taxes.
For more details on what the future might hold no matter who gets elected in November, check out Casey Report.
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