New Taxes On Big Oil
When I first saw this headline I thought.. “Finally, taxes landing where they need to.. on those who’ve got more money than anybody else”…
HOUSE APPROVES NEW TAXES ON BIG OIL
The House approved $18 billion in new taxes on the largest oil companies as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.
Then I had to re-think it a bit. Don’t get me wrong. I still believe firmly that the Ultra wealthy individuals and businesses need to kick in a bigger chunk of cash because, frankly, they’re the most able to do so.
The problem side of it is that these new taxes will merely be passed on to the customer in the form of still higher fuel prices. Either way, the little guy gets the shaft and has to pay higher and higher prices.
How about some legislation that requires new refineries to be built? There hasn’t been a new one built in over Twenty Five Years! There’s no excuse for this. Until cheap alternative fuels are developed, our society runs on fuel that’s based on refined petroleum products. It’s only sensible to make sure that we can process as much as possible as quickly as possible… and that means having modern refineries and plenty of them.
Oh, and while we’re at it, lets not put ’em all in the same geographic area where they’ll be vulnerable to another Katrina-like storm. Spread the things around so that if some get hit by whatever, the rest will be able to take up the slack and keep production going.
Another thing. capacity. There needs to be a LOT more capacity than there is today. That means figuring out how much we need now, and then building enough refineries to give us five times that capacity.
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