I never cease to be amazed at how our sanctimonious politicians always seem to meet the problems of their own creation by creating bogeymen out of private industries. A little different perspective here on the gasoline price "crisis" as well as the what Congress has done to help us become energy independent.
http://www.worldtribune.com/worldtribune/WTARC/2008/ss_oil0164_05_22.asp
Policy Brief from the Republican Study Committee - They make a pretty good case.http://www.worldtribune.com/worldtribune/WTARC/2008/ss_oil0158_05_20.asp
A couple nuggets that I found interesting:
- India and China subsidize oil imports for their consumers - feeding demand while undermining market forces.
- American oil companies are forced to compete against national oil companies which are generally backed, subsidized and protected by their governments. In essence American companies are forced to compete on an uneven playing field for a scarce resource while being demonized by the very people who profit from it.
- 15% of the price of gas is taxes vs. 4% of oil company profits - strange how we haven't heard about any windfall tax revenues.
More later, maybe...
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