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June 10, 2008

Once Again Republicans Protect Oil Companies!

In an attempt to confront the obscene profits the oil companies are making, the Senate proposed legislation that would tax any "unreasonable" profits made by the five largest U.S. oil companies. The legislation would also give the federal government more power to address oil market speculation that many experts believe has added to the crude oil price surge.

"Americans are furious about what's going on," declared Sen. Byron Dorgan, D-N.D., and want Congress to do something about oil company profits and "an orgy of speculation" on oil markets.

Sounds like a much needed, fair (to you and I) and reasonable response to the blatant greed and astounding arrogance of those oil companies and speculators doesn't it? Well, guess what -- the senate republicans have blocked that effort!

According to Sen. Pete Domenici, R-N.M., "If taxes are increased on the oil companies they (the sponsors of the proposal) will get exactly what they don't want. The bill will raise taxes and increase imports."

How incredibly idiotic is that!? Of course it will raise taxes -- ON THE OIL COMPANIES!! Increase imports? Isn't that the very foundation of the so-called market philosophy of supply and demand that the republicans are so fond of preaching? Wouldn't more oil available bring prices down? I'm certainly no expert on the world economy but even I can see the absurd hypocrisy and disturbing illogic of Senator Domenici's comments. According to him, we should just leave the oil companies and speculators alone or - heaven forbid - they'll punish us. As if paying well over $4.00 a gallon for gas isn't punishment already! Gimme a break!!

Whoever said that most republicans aren't in the pockets of big oil and pharmaceutical companies either isn't paying attention or are secretly in those pockets themselves!

I just hope that voters will remember this ON ELECTION DAY in November.

Click here for the full AP story

1 comments:

Rainbow Dragon 76 said...

Of course it's rediculous and I WILL REMEMBER IN NOVEMBER!!!

Thanks for the info.