Saturday, May 24, 2008

Atlas will shrug

Get a load of Represtative Maxine Waters (D CA) threatening to socialize...ahhhhhhh...take over all oil and gas companies. Classic example of the parasites threatening the hosts.

While I generally call bad government the result of unintended consequences, this display is an example of something far more dangerous. The House and Senate have spent 15 years screwing with the oil market here in this country. From taxes to unmanageable drilling and refining regulations, the impact has been higher prices and tightened supplies. This new socialist movement has used the power of big government to screw up markets then claims they are the only ones who can come in and save it.

The dirtiest little secret: The government makes about 5 times more money per gallon of gas than oil companies. Last year, Exxon made about 9 cents per gallon profit. Nice profit when you think of all the gas we use. The combined taxes in this country average 42 cents per gallon.

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