13 June 2008

Oil On Them Thar Hill!

I am amused by the logic of the Republicans who defeated a bill which would have imposed taxes on the oil companies who have reaped hundreds of billions of dollars in windfall profits during this recent rise of gas prices. The argument I heard from the Minority Leader (whose name is best forgotten, and has been!) went something like this: Yes, oil prices have been rising, and yes, the oil companies are making huge profits, and yes, we do get our gasoline from the oil companies, but no, taxing them won’t bring the price of gas down, so why tax the oil companies? If I had better studied logic I would have a word for that error in logic, but I prefer in my ignorance to just call it stupid. But maybe if some of the profits were taxed, we might be able to afford to support development of better public transportation which might reduce the demand for oil which might . . . well, the logic here is clear.

And anyway, if the price of oil is rising so dramatically by the barrel, then it must be that the oil companies are spending more to get their supplies. I am wondering how it is that they are making so much money; could it be that they are gouging the American public? And is that alright with the Republicans? I suppose it will be as long as Georgie Porgie and Sureshot Cheney have stock in the oil companies. May they have a restive retirement.


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