Every time I fill up the vehicle I cringe at the prices at the gas pump. I detailed the reason for the escalating gas prices about a month ago. When I see the profits of the oil companies for a moment I am upset. But if you look at the profits as a percentage of sales, rather than a raw number, the profit levels are not out of line compared to other major companies. Also, remember that the local, state, and Federal Governments all tax your gas as a percentage. This means the higher the price -- the higher the tax. Depending where you live, the price of a gallon of gas is increased by 30% or more because of taxes. Why are there no protests and outrage at the tax windfall for the Government?
If you are really appalled at the profits of the oil companies you should try and get a little back. Invest in Exxon or BP, get a little dividend, reclaim your share of the price at the pump. In fact, if you have a 401K -- you probably are benefiting from the big profits. Perhaps you would rather NO company made any money? That would be a disaster for your planned retirement.
Obama tells me approximately every 15 minutes he is going to put a windfall tax on Big Oil. Even the ghost of Richard Nixon and price controls thinks that is a bad idea. Punish Big Oil, make them pay, control the price at the pump. That will get those effers. Do you really think ANY company pays taxes? They are in business to make a profit and they will pass that tax on to you me and our neighbors. Read Obama's website. He is going to force us to drive smaller cars, he is going to make the auto companies build more fuel efficient cars, he is going to make them convert to a more green automobile. And the Government is going to help pay for it! Yay! Government pays.
Well folks, just like I tried to explain to a city councilman some time ago when he wanted to build a new bridge, I do not think we need it and I do not want to pay for it. He told me we only have to pay 20% of the cost, the Feds will pay the rest! Guess which party he belonged to? I tried to patiently explain that the Federal Government (or State or local) does nothing to produce revenue -- they take it from those who do produce like me and you. I will be paying for the bridge. He gave me a look like I was just too dumb, and walked away.
Anyway, Obama wants to get the Government involved and add a bunch of new regulations, but he does not mention the best way to gain independence from foreign oil producers. That is to drill our own oil reserves in Alaska and off the coasts of Florida and Texas. You see, the Cubans and the Chinese are drilling there. But to appease the Greenies we are letting someone else take oil just off our shores.
Really, if you think this guy would make a good President, you should go to his web site and get edumacated. If you think the economy sucks now, wait until he implements his policies.