Monday, July 26, 2010

Boycotts Do Not Work

As the oil in the Gulf of Mexico gushed, the frequent call for a boycott of BP was heard around the country. The problem with that call is BP is not the one feeling the pinch in such an action.

If you are an ordinary consumer and want to participate in a boycott of BP, what would you do? Stop filling up your vehicle's gas tank at the neighborhood gas station? If your answer is yes, think again. The person suffering from that decision is the small business owner operating the gas station. His/her family is dependent on your support.

It is in the country's best interests to support small business owners, especially as our country is still in the clutches of a deep recession and unemployment hovers around 10%. Most are struggling to hang on.

The biggest purchaser of BP's products is the federal government. Did you know that? No wonder BP was the top contributor to candidate Obama's campaign. They were backing the one with whom they placed faith in victory. Same with Wall Street, by the way, despite the demagouging by the president.

If BP continues to bleed profits, it is the shareholder who is penalized. A majority of BP stockholders are Brits. They are invested through pension funds. For the rest of this year, they have been told to forget about any more dividends paid out. Sorry, Granny, look elsewhere for grocery money. It is of no benefit for them to suffer.

Disagree with the Arizona illegal immigration legislation and pondering cancelling a vacation there? Who is hurt? The Governor still has her job and the citizens of the state still overwhelmingly support it, including the majority of Hispanic citizens of Arizona. The ones who suffer are the ones at the bottom of the employment ladder - the workers in restaurants, the cleaning staff at the empty hotels, the very workers the outraged pretend to support.

1 comment:

Jess said...

I was boycotting BP and going to Shell, not sure why. To be honest, it was just getting my anger out. It seems like BP is doing everything it can. I think I was just angry, that's all...