Sept. 2, 2020
Permission to republish original opeds and cartoons granted.
Exxon Mobil removal from Dow Jones a cautionary tale not to feed the Green New Deal crocodile
This
week energy giant Exxon Mobil lost its prestigious place as one of 30 companies
in the Dow Jones Industrial Average. Its replacement: enterprise software
company Salesforce.com. According to S & P Dow Jones, the change was driven
by Apple's decision to split its stock, which reduced the index’s tech-sector
weighting. However, some say Exxon Mobil’s removal is a direct result of its
decision to cozy up with liberal climate change activists who are now pushing
for the Green New Deal to eliminate petroleum production and all other carbon
emissions. In 2015, Exxon Mobil very publicly supported the now discredited
Paris climate agreement, noting in a press statement, “ExxonMobil has for many
years held the view that a revenue-neutral carbon tax is the best option to
fulfill these key principles.” Exxon Mobil’s “full embrace of the Left and climate
hysteria, has led to their falling out of this listing of our nation’s top blue
chip companies,” noted Americans for Limited Government President Rick Manning.
Or as Winston Churchill once famously said, “An appeaser is one who feeds a
crocodile, hoping it will eat him last.”
Video: If Oreg. won't pacify Portland, then Pres. Trump has no choice but to federalize the National Guard
As political
violence in Portland, Oreg. turns deadly, President Donald Trump is warning
that “Portland is a mess, and it has been for many years. If this joke of a
mayor doesn’t clean it up, we will go in and do it for them!” It’s about time.
Yes, Joe, we know you. You are a radical socialist who is soft on rioters.
On
Aug. 31, former Vice President Joe Biden finally hit the campaign trail in
Pittsburgh as his poll numbers take a hit with ongoing left-wing riots in
America’s cities, acting as a Joey come lately on denouncing political
violence. Biden asked the audience, "Do I look like a radical socialist
with a soft spot for rioters?" Joe Biden asked a simple question. The
answer is yes. When Biden refused to
condemn the violence that has gone on in Portland for almost three months, his
silence was consent to that violence. Joe, what we know is that your convention did
not stand up to those who seek to destroy our country and the rule of law. Your
convention did not stand up to those who would defund the police. Your running
mate supported cutting $150 million from the LAPD. Your running mate indicts you with her own
words, because your silence on the riots makes you complicit in every store
that has been burned, every law enforcement officer who has been killed or
injured and every innocent bystander who has been attacked and in some cases
killed. We know you Joe, you are the guy who is too scared to stand up for what
is right and after the fact complains about those who did.
George Landrith: Let’s get lower drug prices, more innovation and new cures
“President
Trump has done a lot in his first term to strengthen the U.S. Economy, make
America more competitive, and bring good paying jobs back to America. As a
result, before the Chinese COVID pandemic and the almost complete economic
shutdown imposed by various governors and mayors, Americans saw their wages on
the rise at record levels and had record high employment opportunities. So
President Trump gets high marks for his work on the economy and understanding
market forces. But I am concerned that his administration’s “most favored
nation” executive order, which would impose an international pricing index on
medicines and drugs in Medicare Part B, is a huge mistake and will do a great
deal of harm both to our economy and to those who suffer from illness and
disease and are in need of cures. Most of the nations that would be used in the
international pricing index have socialized medicine. So, effectively such an
approach would simply import an element of socialized medicine to America.
President Trump has wisely opposed attempts to socialize our medical industry.”
Exxon Mobil removal from Dow Jones a cautionary tale not to feed the Green New Deal crocodile
By Catherine Mortensen
This week energy giant Exxon Mobil lost its prestigious place as one of 30 companies in the Dow Jones Industrial Average. Its replacement: enterprise software company Salesforce.com. According to S & P Dow Jones, the change was driven by Apple's decision to split its stock, which reduced the index’s tech-sector weighting.
However, some say Exxon Mobil’s removal is a direct result of its decision to cozy up with liberal climate change activists who are now pushing for the Green New Deal to eliminate petroleum production and all other carbon emissions.
“Not terribly long ago, Exxon was the most valuable company in the U.S.,” said Justin Danhof, Director of the Free Enterprise Project at the National Center for Public Policy Research, a free market-oriented research foundation. “And now they are a shell of what they once were.”
Danhof said Exxon Mobil used to contribute to market-oriented advocacy and policy groups such as the American Legislative Exchange Council that helped the energy giant grow and prosper. “Those kinds of group were very helpful to Exxon,” said Danhof. But he said beginning in the mid 2000’s the company made a strategic decision to cut ties with many of its allies and chase the approval of the Environment, Social, Governance (ESG) crowd. “I guess if you are Exxon, your strategy is to keep your enemies close and throw your friends under the bus,” quipped Danhof.
In 2015, Exxon Mobil very publicly supported the now discredited Paris climate agreement, noting in a press statement, “ExxonMobil has for many years held the view that a revenue-neutral carbon tax is the best option to fulfill these key principles.”
The ESG agenda has been driving corporate and even federal investment policies in recent years. Through regulatory channels, President Obama changed the guidelines for the Department of Labor’s investment duties regulations under the Employee Retirement Income Security Act (ERISA). Previously, the Act directed that pension fund managers make investments to maximize investor returns. The Obama administration changed the guidelines so that fund managers could make investment decisions based on a company’s ESG profile.
“This is nonsense,” said Rick Manning, President of Americans for Limited Government. “Investment decisions should always be based on maximizing returns for the investor, not in promoting a political agenda.”
Last month, Manning was part of a coalition of free-market advocacy groups and individuals that sent a letter to the Secretary of Labor voicing support for a return to the former ERISA guidelines. The letter called the Department of Labor’s new proposed rule an “important protection for pensioners and 401(k) investors against involuntarily paying the price for a political ‘thumb on the scale’…”
The letter warned that “Under the banner of ‘environmental, social (justice), and governance (ESG),’ mutual fund and pension managers are increasingly investing in ways that advance their political and social predilections, but may not be consistent with their duties to clients… The Labor Department is reminding pension managers that there is a place for politics and a place for sound investment decisions. When ESG investments put politics over fund performance, they are unsuitable.”
“The liberal mob can never be satiated,” added Manning. “Companies and politicians who try to appease them do so at their own peril.” He said Exxon Mobil’s “full embrace of the Left and climate hysteria, has led to their falling out of this listing of our nation’s top blue chip companies.”
Danhof said corporate embrace of “Left wing ESG causes gets them positive headlines in the New York Times, but is a poor long-term strategy.”
Or as Winston Churchill once famously said, “An appeaser is one who feeds a crocodile, hoping it will eat him last.”
Catherine Mortensen is the Vice President of Communications at Americans for Limited Government.
Video: If Oreg. won't pacify Portland, then Pres. Trump has no choice but to federalize the National Guard
To view online: https://www.youtube.com/watch?v=E-Dwei4X3HU
Yes, Joe, we know you. You are a radical socialist who is soft on rioters.
By Rick Manning
On Aug. 31, former Vice President Joe Biden finally hit the campaign trail in Pittsburgh as his poll numbers take a hit with ongoing left-wing riots in America’s cities, acting as a Joey come lately on denouncing political violence. Biden asked the audience, "Do I look like a radical socialist with a soft spot for rioters?"
Joe Biden asked a simple question. The answer is yes. When Biden refused to condemn the violence that has gone on in Portland for almost three months, his silence was consent to that violence. Don’t ask me, ask his running mate Kamala Harris who wrote in Cosmopolitan, “In times like this, silence is complicity.”
So, Joe when you don’t come out of your basement and denounce the rioting, burning and violence in Minneapolis, Portland, Seattle, Chicago and Washington, D.C., while allowing your surrogates to pretend that it wasn’t happening, you were complicit. Now you try to claim to be some kind of great moderate with the “you know me” line.
Joe, what we know is that your convention did not stand up to those who seek to destroy our country and the rule of law.
Your convention did not stand up to those who would defund the police. Your running mate supported cutting $150 million from the LAPD.
Your political party refused to allow Senator Tim Scott’s police reform bill to come to the floor of the Senate and you said nothing.
Your running mate indicts you with her own words, because your silence on the riots makes you complicit in every store that has been burned, every law enforcement officer who has been killed or injured and every innocent bystander who has been attacked and in some cases killed.
We know you Joe, you are the guy who is too scared to stand up for what is right and after the fact complains about those who did.
Yes, Joe, we know you. And we know that our President can’t hide in his basement in fear and remain silent as domestic terrorism grips our streets. It is because we know you, that America will not vote for you.
Rick Manning is the President of Americans for Limited Government.
ALG Editor’s Note: In the following featured oped on Breitbart.com, Frontiers of Freedom President George Landrith urges President Donald Trump is urged to reject the International Pricing Index for Medicare Part B prescription drugs:
Let’s get lower drug prices, more innovation and new cures
By George Landrith
President Trump has done a lot in his first term to strengthen the U.S. Economy, make America more competitive, and bring good paying jobs back to America. As a result, before the Chinese COVID pandemic and the almost complete economic shutdown imposed by various governors and mayors, Americans saw their wages on the rise at record levels and had record high employment opportunities. So President Trump gets high marks for his work on the economy and understanding market forces. But I am concerned that his administration’s “most favored nation” executive order, which would impose an international pricing index on medicines and drugs in Medicare Part B, is a huge mistake and will do a great deal of harm both to our economy and to those who suffer from illness and disease and are in need of cures.
Most of the nations that would be used in the international pricing index have socialized medicine. So, effectively such an approach would simply import an element of socialized medicine to America. President Trump has wisely opposed attempts to socialize our medical industry.
It is worth noting that the U.S. is the unchallenged world leader in the development of new, innovative, and life-saving medicines. There is a reason for this, and it isn’t because all the smart medical minds are born in America. We are the world’s leader in innovation because our system of intellectual property makes it potentially profitable to invest millions and even billions into research to develop new devices, processes, and medicines. Most medicines cost hundreds of millions of dollars to develop. Some work and provide miracle cures. Some don’t pan out. But that investment has to be recovered at some point. That’s simply how reality works.
If you’re going to invest and risk millions of dollars trying to develop something new and innovative, you want to know that if you’re successful, you can get your investment back over time when the new product is sold to the public.
If government makes it clear to those who do such research that the law will not permit them to recover their investment, that needed research will come to an effective end. Then we will see far fewer innovative cures that save and improve lives in the future. Who pays the cost of that policy? Everyone who at some point during their life becomes sick, needs medical help, and hopes not to live a diminished life or even worse, die. People who are suffering and dying of terrible diseases will be left to suffer and die because government de-incentivized medical research that could have treated them.
Many of the nations that would be used in the international pricing index tell American drug manufacturers what they will pay and typically demand prices well below the costs of developing the medicine. Often, they are only willing to pay the cost of producing the pill, but won’t accept paying for the full research and development that made the pill possible.
Why do American firms sell to them given the legal plunder that these governments engage in? Because often if they don’t sell at the demanded price, they are told they cannot sell any medicine in that nation. So in effect, these foreign governments engage in legalized robbery or blackmail of American pharmaceutical firms. That leaves Americans to pay the full cost of the research and development. And it is one of the big reasons Americans pay more for medicines than Europeans. Simply stated, Europe cheats and steals.
President Trump has worked hard to be sure that Americans are treated fairly in the trade agreements that he has negotiated. As a result, we see a resurgence in American manufacturing and good paying American jobs. The administration should use trade agreements to require developed nations — like those in Europe — to pay their fair share for the medicines they use.
Every developed nation should be sharing the costs of research and development. When Europeans buy mobile phones or computers or TVs, the cost they pay includes not just the cost of the parts to build the device, but also the costs of research and development for the product. There is no reason why they shouldn’t do the same for medicine.
If developed nations are paying their fair share of the research and development costs, Americans won’t be forced to bear the full cost. So if you want to have lower cost medicine and lots of future new and innovative medicines and cures, forcing developed nations to pay their fair share is a much better approach than importing their incentive-killing socialized medicine tactics.
I encourage the administration to continue to use trade agreements as a way to make sure that Americans are not cheated and robbed by other nations. This is a win-win approach. We will get the benefit of less costly medicines and we will get the benefit of a system that incentivizes innovation and research into new cures and medicines. This will save American dollars and lives! That is a policy that we can all get behind!
To view online: https://www.breitbart.com/politics/2020/09/01/lets-get-lower-drug-prices-and-more-innovation-and-new-cures/