The Oklahoman editorial board’s take on the oil and gas fracking boom gone bust here is as insanely laughable and ridiculous as it gets. It’s cray cray, people.
Here’s the key point in a recent editorial in the newspaper about dropping oil prices and its impact on the state economy: “. . . populists will join the anti-fossil fuel crowd in cheering the pain awaiting oil company employees and their investors.”
See, it’s all about those crazy “populists” excessively worried, as the editorial notes, about those “obscene profits” made by energy companies, which “has never been matched by reality.” The oil company executives, you know those people with courtside seats at The Thunder games, bless their hearts, have nothing to do with it. They match reality. Populists can’t even match their socks on a good day.
It’s as if the writers and editors at The Oklahoman have never experienced or read about or studied the oil boom and bust cycle that has defined this state, well, basically since its inception by the federal government as one of the last states in the nation. I know 1982, the year Penn Square Bank failed, signaling the symbolic end of a major oil boom, may seem like ancient history to a 20-year-old getting ready to take finals next week, but it isn’t to those of us who lived here as adults that year.
Then, as now, “populists” and those people the newspaper refers to as the “anti-fossil fuel crowd” have absolutely nothing to do with the steep drop in oil prices. It’s the oil and gas companies themselves that are completely and entirely to blame, and it’s related directly to greed and immoral, ruthless, awful business practices and non-planning.
Here’s a basic refresher on the oil boom and bust cycle: Oil companies go crazy when prices are up and over drill and over leverage themselves during boom times knowing full well the bust is as inevitable as death and taxes. They take the money and run. That’s the definition of Oklahoma. It has happened before, it’s happening now, and it will happen again. Yet we love us our unethical oil barons. We even name our hockey team after them.
Us hippy tree huggers have absolutely nothing to do with this unbelievably stupid system. The negative aspects of the human condition-greed, the desire for undeserved and corrupt power, lying, fraud, basic immorality-are the culprits. Laugh at us for hugging our trees and singing clichéd campfire songs, but don’t blame us for sin, sloth and gluttony, please, Oklahoman editor Kelly Dyer Fry, who is a member of the newspaper’s extremely prestigious editorial board and, in full disclosure, the mother of my two children.
It’s the OIL COMPANIES that caused the glut through over drilling using hydraulic fracturing or fracking techniques. It’s the OIL COMPANIES that are causing the earthquakes that shake it up for us on a daily basis while polluting our water supplies. It’s the OIL COMPANIES that don’t care one iota for this state, its people, its children and its future. Oil barrel prices have dropped from about $100 a barrel to nearly $60 a barrel in just a few months because of OIL COMPANIES, not sarcastic college English professors, who are NOT dancing around the campfire because many people here may well lose their jobs in the coming months.
The top executives of oil companies pay themselves exorbitant amounts of money during the boom times, but when the boom goes bust who gets hurt the most are the ordinary workers, like oil rig employees and geologists. They lose their jobs. It’s tragic, and not good for an energy state, such as Oklahoma. No, it’s downright terrible and sad. I have known, and I know, and I will know in the future people who lose their jobs because of this style of oil-company immoral greed the newspaper editorial board supports as some type of Biblical mandate handed down by that oil driller himself, the baby Jesus.
Again, the recent editorial has the audacity to actually claim, “. . . the populist view that energy firms make obscene profits has never been matched by reality.” Really? Harold Hamm, chief executive officer of Oklahoma City-based oil company Continental Resources, has at one time reportedly been estimated to be worth around $17 billion. THAT IS OBSCENE. There, I said it. Again. THAT IS OBSCENE. Expect me to be tarred and feathered and sent off in one of Hamm’s 14 private jets and deposited like a baked, unplucked turkey on the streets of New York City where them liberals belong.
Get some tissues before you read the rest of this paragraph. Hamm is worth considerably less now that oil prices are plunging because of The Oil Glut. Bless his billionaire’s heart. Poor Harold. (His divorce settlement isn’t going to help him either.) But what’s a few less billion dollars to a non-obscene, money making oil executive? His socks match because his 387 personal servants make sure they match.
So this is what that GOP’s “drill, baby, drill” dogma gets you: An Oklahoma economy threatened by mythical American fossil-fuel independence. Thanks, Sarah Palin. Can I state the obvious? When you drill and drill and drill, you get oil and oil and oil. When you get oil and oil and oil, you get gasoline prices below $2 a gallon, which is extremely wonderful for the nation’s economy, but not so good for an energy state like Oklahoma. People lose jobs here during bust times. It’s tragic. Tax revenues plunge. Oklahoma’s education funding gets cut by the highest level in the nation. Wait, that happened before the bust.
Let’s pause and rephrase. The Oklahoma power structure-the Hamms, the Frys, the Fallins, [insert different names over the years here]-don’t give a damn about education and never will. The oil boom gone bust just gives them another excuse to castigate those stinking liberal tree huggers, see, that just don’t get it. It gives them another excuse to demean overworked teachers for trying to teach children on shoestring budgets.
Of course, Okie Funk called this bust a long time ago, but Kelly Ogle and Amanda Taylor, News 9 anchors, have great hair, and that’s what matters in the media here in Oklahoma, right? That, and the craven members of the state’s largest newspaper’s editorial board, who think logic is a dirty, four-letter word.