|How federal, state and local govenments have allowed a perfectly good cash cow to escape
Let's consider the price of gasoline. If the wind blows, it goes up. If the season's change, the gas blends change and the price goes up. If a refinery is shut down for a storm, the price goes up. Why has our federal government allowed the price of gasoline to remain so high?
CEOs of several large companies were invited to Congress to speak about high gasoline prices. However, they weren't required to swear in on a Bible. Nothing definitive was explained by the CEOs, other than that's just the nature of the oil business. So let's look at something definitive. All companies netted the largest profits ever. How could their environment have been so bad that such hugh profits were made?
Why can't our federal government tax the oil companies until they become more reasonable? If they don't comply, tax them again. That is know as leverage! It would certainly appear that our federal government would rather support and reward big oil and not their own citizens. Why? And why do we allow them?
One oil company is advertising how the profits they made are being used for research on fuels but with no time limit as to when something will be developed and in use. Aren't we so fortunate for that explanation. They have perfected manipulation on us.
Why don't they convince environmentalists that they need to increase the size of their refineries or build new ones? With all of those profits, why don't they reward the buyers of gasoline (us) with permanent price reductions? So you say, we are in Iraq, what about their oil? Can any one answer that question? I don't believe they have a refinery in Iraq.
What immediate benefit are we receiving from the oil companies? None. What has our federal government done? Well, sometime in 2000-and-what, autos will have to get more mileage per gallon. YIPPEEEE! What does that do for us now?
What can our state, county, and city governments do to help us? They have forgotten about how easy it used to be to place a tax on gasoline and reap the rewards. If gasoline prices were rolled back to $1.88 a gallon and held steady, the state could add a .35 tax increase per gallon and the coffers would fill up in no time. Even the counties and cities could benefit. It would probably enable us to eliminate property tax all together. Things might be wonderful again.
What does our federal government do about this? They keep on letting big oil make tons of money and destroy our cash cow.
Let's be realistic. None of this will happen because we won't get involved and we will continue to be trampled by all forms of government. This doesn't have to happen, does it?
Commentary by Robert Raney