Hillary Clinton, speaking at the DNC’s winter event, calls for confiscating the recent profits of Exxon and…buying Priuses, I guess. “The Democrats know what needs to be done, again, we’re working to try to push this agenda forward. The other day the oil companies reported the highest profits in the history of the world. I want to take those profits, and I want to put them into a strategic energy fund that will begin to fund alternative smart energy alternatives and technologies that will begin to actually move us toward the direction of independence.”
Senator Clinton, as far as I know, didn’t mention how she planned to replace the $433 billion in investment capital that generated those profits last year, and which will find alternative uses for itself once Senator Clinton destroys the incentives that cause those assets to be devoted to energy production. Capital, in Senator Clinton’s world, apparently falls from the sky and replenishes itself, and political actions have no repercussions beyond the stated intention of the policy.
I used to think that Hillary Clinton was smart.