Senate Considers Windfall Profits Tax on Big Oil
http://www.foxnews.com/story/0,2933,364846,00.html
I don't like paying $4 for gas as much as you, but is capping the profitsSenators were to vote Tuesday on whether to consider a windfall profits tax against the five largest U.S. oil companies and rescind $17 billion in tax breaks the companies expect to enjoy over the next decade.
of oil companies REALLY the answer? No, it's a short term solution that
can only make the issue worse for us in the long term. It's purely a way
for politicians to make you FEEL as if they're working for your interests.
How much would you appreciate it if the government decided to place a
cap on your salary, even though your bills continue to rise unobstructed?
Sure, cap 'em so their 10% profit margin gets limited to 8%. What do we
do when OPEC holds steady, India and China oil use continues to rise and
the price of a barrel of crude continues to jump? Tax oil companies more?
How much taxation before they become non-profits? Or simply bankrupt?
Who's going to invest in alternative fuels and/or increasing domestic oil
production? Believe me, the government is not going to do it. And even
if they wanted to, they'd go about it the wrong way and make it worse.
That basically sums up what needs to happen if we really want to see aMost Senate Republicans have a different approach to dealing with the growing energy crisis — pump more oil and gas.
noticeable change in gas prices. We can level our usage, or even start
to use less, but India and China are going to pick up where we left off,
thus keeping global usage at the same (or worse) level. We need to dig
for our own oil domestically OR we need to find some alternative energy
source that's both plentiful and profitable. It has to be both, or else its
just a waste of time even going down the path.
Again, sorry, but I felt like venting. We tie the hands of big oil behind
their back so they can't solve the problem, and then try to put all of the
blame on their shoulders. $4 gas is an end result of political correctness
and its going to get worse before it gets better.
All I can do it keep laughing to myself!