The Price of Oil

Powerline has a really interesting take on the price of oil. What it basically boils down to (complete with a chart I won’t steal), the windfall tax thing is a total sham. Obama didn’t even see fit to show up for a vote on the “tax the oil companies more” legislation he touted.

If we want to play devils advocate on the blog, then Obama might be right – tax the oil companies and force them to evolve. However, powerline’s point is that they’re already taxed enough and it’s legislation which is holding them up. I tend to agree more with powerline than Obama, we have this massive oil reserve in Texas and in ANWR, with possibly more in our waters and all anyone cared about previously was “disturbing the wildlife”. While it probably makes someone feel good saving a moose, I say drill the living hell out of ANWR and save some Americans.

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2 thoughts on “The Price of Oil

  1. yeah those poor oil companies making billions of profits. they are taxed enough. those record profits they have been having every quarter for the past 8 years means the free market is working and we should not penalize them with taxing. also obama didn’t show up because republicans were fillerbustering (lol i think they want to throw the election by pissing everyone off.)

  2. I didn’t say they were “poor” – they’re anything but. However what I did want to point out is that they’re piss in the ocean when it comes to available money. If you’re looking for more efficient infrastructure and someone to setup local refining, you have to look at how much money the other guys have to pull it off. And this is where the argument to tax them more (essentially socializing the oil infrastructure) doesn’t make sense. It is, however, entirely in line with Obama’s socialist policy.

    Also they didn’t filibuster it, you’re probably getting HR6049 confused with the stalled climate change bill

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