Comments on: Is It Time to Tax Big Oil’s Windfall Profits?

By: Brian Carr

Brian Carr — Sun, 30 Jul 2006 00:07:00 +0000

Who would you propose gets their hands on the $2 gas? Would the Federal Government get the money and then give it out?

I don’t know who I’d trust least with that money, the Government or Big Oil!

By: Anonymous

Anonymous — Sat, 29 Jul 2006 22:51:00 +0000

Short-term economic suicide may be necessary to shake our dependence of unsustainable resources…only a large tax can significantly shake the whole of the american psyche into changing their wasteful habits…the primary alternative seems to be a world war for petroleum resources.

It’s also the only solution that prevents Big Oil from passing the cost on to the consumer. I think Big Oil would probably curb their profits in an attempt to keep gasoline below $5 in order to keep Americans on their gasoline habit.

By: Brian Carr

Brian Carr — Sat, 29 Jul 2006 18:15:00 +0000

In theory that’s a great idea. In practice it would be economic suicide. Economic growth was up only 2.5% last quarter, while core consumer prices (which excludes energy and food) was up 2.9%.

If you threw on a $2.00 tax, taking gas to roughly $5 per gallon, you’re going to push a lot of people over the breaking point as well as kill economic growth.

The money HAS to come from the companies that are making out like bandits.

Yes, SOME of that cost needs to be passed on to the consumer, but adding 66% to the current price of gas isn’t the way to go.

By: Anonymous

Anonymous — Sat, 29 Jul 2006 06:10:00 +0000

The true solution is probably a $2.00 per gallon tax on gas, earmarked for research grants for new sustainable fuel sources and expenditures on expanding mass transit systems.