Counterproductivity at Work: Government Bashes, Takes Stock In, Big Oil

Here’s an interesting, but typical, government tidbit.

In my state, Michigan, there’s a petition on the government website that citizens can sign to “lower gas prices!”

Keep that in mind, and now read this little bit of research from Mark Hornbeck of the Detroit News:

While Gov. Jennifer Granholm pushes for a federal cap on what she calls “exorbitant” oil profits, the state is reaping big benefits from energy companies for its retirement system.

The pension system for state workers, public school employees, judges and state police has $2.5 billion invested in energy companies, including 12.8 million shares of Exxon-Mobil worth $832 million — the largest holding in the state portfolio.

So, if government had their druthers, it would mean slashing oil profits and trampling, mad elephant style, on stock value.

Consider the situation: those state workers who run the Michigan website, operate that petition to “lower gas prices”, or are involved in supporting same, are getting paid to urge people to assist in devaluing their own pension funds.

Is that a “your government at work” story, or what? In this case, however, the government’s at work against themselves. I guess they don’t mind though, since it’s all your money anyway.


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Author: Doug Powers

Doug Powers is a writer, editor and commentator covering news of the day from a conservative viewpoint with an occasional shot of irreverence and a chaser of snark. Townhall Media writer/editor. alum. Bowling novice. Long-suffering Detroit Lions fan. Contact: