by Katie Fretland
In an op-ed piece in today's Wall Street Journal, Karl Rove describes the presumptive Democratic and Republican nominees as "economically illiterate and irresponsibly populist."
Rove, the former senior adviser and deputy chief of staff to President Bush, criticizes Sen. Barack Obama for proposing to force oil companies to pay a tax on their windfall profits to help families pay for energy costs, among other things.
"Set aside for a minute that Jimmy Carter passed a "windfall profits tax" to devastating effect, putting American oil companies at a competitive disadvantage to foreign competitors, virtually ending domestic energy exploration, and making the U.S. more dependent on foreign sources of oil and gas," Rove writes.
As for Sen. John McCain (who doesn't support a windfall profits tax), Rove criticized him for his comments that oil companies make "obscene" profits while failing to invest in alternative energy.
"But oil and gas companies report that they have invested heavily in alternative energy. Out of the $46 billion spent researching alternative energy in North America from 2000 to 2005, $12 billion came from oil and gas companies, making the industry one of the nation's largest backers of wind and solar power, biofuels, lithium-ion batteries and fuel-cell technology," Rove writes.
Read the full article here.
(Photo credi: The Associated Press)







Comments
Why are you quoting this WAR CRIMINAL and just when does he get to see the inside of a jail cell?
Posted by: Rove's a jerk | June 19, 2008 2:19 PM
why isn't this man in jail?
Posted by: crud | June 19, 2008 2:21 PM
Karl Roves "math" is about as bad as his political predictions:
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http://mathmojo.com/chronicles/2006/11/09/rove-dummy/
Hey Rove, whatever happened to that "permanent Republican majority" you were always quacking about? HAHAHA!
Posted by: John E | June 19, 2008 2:25 PM
Amazing. These remarks from someone who crafted the policy for the administration now seen as hopelessly out of touch and tanking in the polls. Is this why Rove is stuck at Fox?
http://www.political-buzz.com/
Posted by: matt | June 19, 2008 2:35 PM
I would question the sanity of the person who hired Rove.
Posted by: lochnessmonster | June 19, 2008 3:30 PM
Stop giving this man publicity. He has done enough damage to our country.
Posted by: Paul | June 19, 2008 4:06 PM
OK, so you folks don't like Karl Rove.
That's a big surprise.
What do you think of the points he made, though?
Or is intelligent discussion of ideas beyond the capabilities of the Swamp denizens?
Posted by: DaveB | June 19, 2008 5:27 PM
DaveB, you hit it: Intelligent discussion of ideas IS beyond the capabilities of the Swamp denizens!
In fact, most Americans are stupid. But that's a good thing. Ignorant, uneducated masses are easier to manipulate and control. So it's good that our ghetto schools are failing. It's good that we turn a blind eye to the decline of the news media while embracing escapist celebrity fare. The grand experiment that is democracy has failed, and Islam and Sharia shall replace it. It will only be a matter of time. We're just one weapon of mass destruction away, one economic catastrophe away, one natural disaster away from the New Beginning. Allah Akbar!
Posted by: Mohammed | June 19, 2008 6:13 PM
Oh yeah, Turdblossom is known for his economic astuteness.
Posted by: C.Morris | June 19, 2008 7:05 PM
Alt Cap;
'I am the God of Hell fire and I bring you,,,, FIRE!!'
Posted by: TheLeninSisters | June 19, 2008 7:33 PM
Unlike the libs that posted on here, I read Mr. Rove's well-thought column that used logic and reason. Now I know why the libs didn't like it - logic and reason.
Posted by: Terry | June 19, 2008 8:13 PM
Unlike the libs that posted on here, I read Mr. Rove's well-thought column that used logic and reason. Now I know why the libs didn't like it - logic and reason.
Posted by: Terry | June 19, 2008 8:13 PM
You call it "logic and reason"... most other folks would read it and call it what it is...SPIN.
Posted by: DD | June 20, 2008 12:36 AM
Mr. Rove is not an economist, but a political strategist who has championed slash-and-burn campaigning. That has done more long-term damage to the country than any failed economic policies of recent vintage. And if the economy tanks because of high gas prices, the oil companies and their apologists will be laughing all the way to the bank.
Posted by: Bruce R. | June 20, 2008 8:39 AM
"Set aside for a minute that Jimmy Carter passed a "windfall profits tax" to devastating effect, putting American oil companies at a competitive disadvantage to foreign competitors, virtually ending domestic energy exploration, and making the U.S. more dependent on foreign sources of oil and gas," Rove writes.
And here is the enduring legacy of the ignominious Jimmy Carter. The little ignominious guy is like a cockroach powered by a couple of EverReady AAAs.
"Out of the $46 billion spent researching alternative energy in North America from 2000 to 2005, $12 billion came from oil and gas companies, making the industry one of the nation's largest backers of wind and solar power, biofuels, lithium-ion batteries and fuel-cell technology," Rove writes.
You Marxists that are always railing against "Big Oil" never consider the taxes and overall positive impact that "Big Oil" has on the macro-economy of this country that we are forced to live in. The Marxists have their hate speech going without even bothering to relate to the article. Hail to the Evil Genius Karl Rove.
What a great country this is. ~ Tim Russett
Posted by: Django Scott - Houston, Tx | June 20, 2008 10:11 AM
Having oil companies pay a windfall profit tax is comparable to the IRS taxing those with higher incomes at a higher tax rate, which it does.
Posted by: Linda | June 20, 2008 2:14 PM
Linda @ 2:14 p.m.,
It is not the same, because it is selective and it is punitive.
It encourages neither production or efficiency.
It does absolutely nothing to lower prices at the retail level.
It does make liberals feel good about themselves. Nothing more.
Posted by: Django Scott - Houston, Tx | June 20, 2008 3:07 PM
DD - Dumb Democrat? Obviously you didn't read the articl, he was ripping both McCain and Obama. You see Rove's name and you start foaming at the mouth.
Bruce R - Milton Friedman you are not.
Linda - to add two more items to Django's list - we the consumers will end up paying for it and we will become more dependent on foriegn oil.
Posted by: Terry | June 20, 2008 9:54 PM