Gas Could Be Cheaper
This is a picture of the gas prices at Shore Stop on 4/11/2008 in the afternoon:
As most everyone has noticed, the price has been climbing steadily all week. Today’s price on a barrel of crude oil sits at $110.14. Our wallets are crying “uncle”, well, they may just be crying.
There are those, mainly on the left, who wag their fingers at what they call “big oil” and criticize them for making money. Well, really their criticism is that “big oil” makes too much money (profit), as though they know how much money that anyone should be making. Our Democrat-controlled Congress hauled the CEOs of “big oil” before them to question why they made money in their business. According to Frank Calio’s column in the April 10 edition of the Laurel Star:
When a congressman asked the oil magnates if they ever considered dropping the price of gas, there was immediate silence, so much that you could hear a pin drop.
I would bet that the silence came from shock. Mr. Calio doesn’t name the congressman, but I would have to wonder if that congressman actually ever ran a business or even knew anything about running a business. Doubtful? Yes.
One of those CEOs should have answered our nameless congressman sitting in his ivory tower, “have you ever considered lowering the gas tax?” I’m sure that silence would have followed that question too.
According to GasPriceWatch.com, Uncle Sam tacks 18.4 cents on a gallon of gas, and in Delaware Mama Ruth tacks on an additional 23 cents. That comes to 41.4 cents in taxes on every gallon of gas. In other words, that gallon of gas is really $2.865 not $3.279 as it is pictured above. What would it do to your wallet if our government suspended the gas taxes for a period of time? My wallet might stop crying.
Actually, if the government wanted to help lower gas prices, it would allow drilling in ANWR and off of our coasts, in addition to relaxing or removing the burdensome restrictions on construction of new refineries. That would go a long way to reducing our dependence on foreign oil.
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