Yes, we can.

[Kevy Baby]

My father sent me this article by Ben Stein that appeared in the March 2, 2008 New York Times. I kinda liked it.

AS I was sitting at my majestic TV in a majestic suite at the Mandarin Oriental Hotel in Miami a couple of weeks ago, going over notes for a speech the next morning and waiting for Crockett and Tubbs to speed by, chasing drug kingpins in their Miami Vice" motorboat, I watched Barack Obama speak in Madison, Wis.

As usual, Senator Obama gave a fine oration, with thunderous applause from the audience as his reward. But then I was beguiled by a series of gifts he was going to give the American people (of course, with their own money): universal health care, antipoverty programs, large grants to college students in return for community service (a darned good idea) and other goodies.

Then he talked about the country's energy policy and how he planned to change our dependence on oil. And he took aim at Exxon Mobil, which had almost $12 billion in earnings last quarter, and said that good old Exxon Mobil wouldn't part easily with its profits.

Now, I know it's primary season. I know Democratic candidates have to make obeisance to the populist, anti-business wing of their party, just as the Republican front-runner, Senator John McCain, has to make bows and curtsies to the supply-side part of his (and my) party. But Mr. Obama's comments about Exxon Mobil are, as folks used to say, fightin' words.

Mr. Obama is clearly an intelligent man. So it may not be too early to start a small process of education about Exxon Mobil and other oil companies and why attacking them is not smart. First, Exxon Mobil, like all the other gigantic integrated energy companies in this country, is owned not by a cabal of reactionary businessmen holding clandestine meetings in a lodge in the Texas scrublands (as Oliver Stone so brilliantly illustrated in "Nixon").

Exxon Mobil, in fact, is owned mostly by ordinary Americans. Mutual funds, index funds and pension funds (including union pension funds) own about 52 percent of Exxon Mobil's shares. Individual shareholders, about two million or so, own almost all the rest. The pooh-bahs who run Exxon own less than 1 percent of the company. When Exxon Mobil earns almost $12 billion in a quarter, or $41 billion in a year, as it did in 2007, that money does not go into the coffers of a few billionaire executives quaffing Champagne in Texas. It goes into the pension and retirement accounts of ordinary citizens. When Exxon pays a dividend, that money goes to pay for the mortgages and oxygen tanks and in-home care of lots of elderly Americans. So, Mr. Obama, which union pension plans - and which blue-collar workers who benefit from them - will be among the first you would like to deprive of the income that flows from Exxon's rich dividends?

When Mr. Obama or his Democratic rival, my fellow Yale Law School graduate Hillary Rodham Clinton, go after the oil companies and want to take away their profits, they are basically seeking to lower the income of the ordinary American. Why do that? It's just cutting off one end of a blanket and sewing it to the other.

Years ago, there was a comic strip called "Pogo" by Walt Kelly, and the possum who was its hero uttered a deservedly famous line: "We have met the enemy and he is us." this applies to Big Oil. Its profits are our income. Its employees are overwhelmingly not millionaires - and, by the way, it's not illegal or evil to be a millionaire. They are our neighbors and the people who get us the gasoline to run our cars and trucks and the oil to heat our homes. And, after expenses, the money hauled in by Exxon Mobil and other companies like it goes vastly more toward exploration and finding new ways of delivering oil and gas to us slobs in our cars than it does to well-heeled oil executives. It may be a scary fact, but we need the oil companies.

Meanwhile, all over the world, from Russia to Venezuela to Africa to the sands of the Mideast, nations with large oil reserves are making it harder for American energy companies to get their hands on oil and gas. If they succeed and re-cartelize the price, current prices may look cheap. We should not be beating up Exxon Mobil and its brethren and making them cry uncle to Uncle Sam. A better policy might be to keep making sure they have no role in price-fixing, and then to encourage them to go after and lock up as much oil and gas as they can for us to burn up. We would be better off with stronger oil companies that can serve our energy needs for the long haul than with weak and overtaxed oil companies that cannot deliver the needed juice.

Finally, envy is simply not good economics. It has never led anywhere except to trouble, and we have enough divisions in this country already. As I said, Mr. Obama is a smart man. And Senator Clinton is a smart woman. I have worked in politics and with politicians. I know they have to say crowd-pleasing things (just as Republican leaders have to say that cutting taxes raises revenue). But I respectfully suggest that they might want to reconsider their attack on Big Oil. After all, Big Oil is big us. And we need us.