Weblog Commenting and Trackback by HaloScan.com The Barnyard: 65% Of Americans Say Drill Here, Drill Now

Monday, August 11, 2008

65% Of Americans Say Drill Here, Drill Now

The latest Rasmussen poll reports that a solid majority of Americans want us to tap our domestic sources of oil and want us to build more nuclear power plants. Clearly Democrat leaders Nancy Pelosi and Harry Reid are thwarting the will of the people who like the do it all approach being pushed by the GOP in the American Energy Act and is being blocked from even coming up for a vote in Congress by the Democrat's leaders. The only place Democrats want to drill is into the pocketbooks of America's families and small businesses but now that their anti-energy policies are starting to hurt even the government sectors like police, fire departments and schools people are taking note. The high cost of fuel takes a bite out of every budget and has a ripple effect through the entire economy slowing or even stalling growth as the stagflation of the Carter years proved beyond doubt. So what do the Democrats want to do? The exact same tried and failed policies of the Carter years like windfall profit taxes.
Yeah I know oil companies made record profits recently but they also paid record taxes, $3 in taxes to every $1 in profits so do we get to tax the government for windfall profits? That does not include the taxes we pay on every gallon of gas we buy that here in California is about .54$, .18$ federal and .36$ state, while the oil companies make between 8-10% and the station makes about 1%. I asked my local station owner which he made more money from, beer or gas sales, and he was quick to reply that beer was what kept him in business. He added that gas sales just helped bring people into the store and that is why so many of the cheaper gas stations also have a minimart as a way to make money. So who is doing the gouging? It looks like the government to me and not the oil companies.

2 comments:

Gayle said...

It is indeed the government, and I still can't figure out why that witch Pelosi was elected as the Speaker of the House!

SouthernRoots said...

If, for example, the oil companies made $50 billion in profit, and the government raked in a record $150 billion in taxes on the increased value of oil sales.......

Why not take, oh, $15 billion of that and offer it as a reward to the first auto company to produce and market a viable, affordable, practical, 100% global warming friendly car?

Put a time limit of two years on it.

Would that be enough incentive?

If so, why would Congress use that money for anything else?

What is Congress doing with their record "windfall" tax profits?