Wednesday, June 11, 2008

Pinch me. Am I Dreaming?

When I hear the term Windfall Profits Tax, it conjures up memories of gas rationing, long lines at the gas pumps, double digit inflation, double digit unemployment... You know, the Carter years.

Amazingly, when everyone is squawking about high gasoline prices, Washington Democrats whip out the Windfall Profits Tax card once again. "Let's punish the greedy oil companies and make them give back our money" they say. But who do they think will pay this tax? The greedy oil companies? Let's get serious. The only ones who pay taxes are consumers. If we think gas prices are high now, wait until the greedy oil companies pass along the Windfall Profits Tax congress slaps on them.

Let's see... how much should the oil companies be charged? 10 cents a gallon? 50 cents a gallon? It all depends on how much more we want to pay. I guess some Democrats don't think we pay enough.

Don't expect brilliance when it comes to drilling domestic oil wells, either. We must be vigilant protecting every vast, remote wasteland environmentalists want shielded from man's footprints no matter what the cost. And so we'll continue to pay...and pay...and pay...


Sirocco said...

"I guess some Democrats don't think we pay enough."

A pretty darn good case could be made that we don't.

GOP Boomer Gal said...


How much do you want Americans to lower their standard of living, so that we can attain Third World status?

Sounds like a darn good case to me.

Anonymous said...

Boomer gal,

The cost of gas is already lowering our standard of living...look around?

I think what we should do is to strip the oil companies of all the government support they get...all. I also think that we should heavily subsidize R and D in other areas of fuel and heavily subsidize or tax break (same thing) the cost to consumers to put in solar in their houses.

The oil companies know we need gas but we don't have to subsidize them and bail them out at every turn to make their lives easier when they are making record record profits. If we even drop a fraction of the dollars we have dumped on oil and oil security, they might have some real competition again and we might get lower costs of fuel.

You all have to admit that it is troubling, to say the least, that we have subsidized drilling, oil R and D, and the access to Mideast oil with our defense dollars, all so we can pay MORE at the pump?

That is not wise spending of our tax dollars now is it?

AZAce said...

Once APS' solar station goes online, it will cost taxpayers 18 cents per KWH compared to 2-4 cents for alternatives. Can you imagine what the subsidy will be to keep rate payers solvent? Solar is a great idea for someday, but it's insane to think it's good for anything other than VERY small applications despite all the research over the past three decades. Let's keep working on it, but not kid ourselves that it's ready.

Anonymous said...


No question the tech is still expensive...but more expensive than oil...Im not sure it is anymore. Especially if you include the subsidies we give to drilling.

We live in a place where solar is viable...particularly for home use. What I was talking about was tax credits or subsidies to put in your OWN solar. We have them already but they are not big enough for people to make the leap. I am told it costs about $10-15K to put in solar on a typical house. It is cheaper with the tax breaks. It could be FAR cheaper if there were more and well worth it.

With little planning for the future and a little investment, we could really do this. We have invested far too much in oil...we have made it cheaper. Why not make renewable cheaper...good for our economy, good for the world, and good for national security.

Sirocco said...

The economic argument I have heard in the past is that in order for alternative energy options to be viable the cost of oil had to be at $80 a barrel and likely to stay there.

I think we are likely past that point now, wouldn't you say?

Oh, and gbg, there is more to standard of living than being able to drive your SUV wherever you want, whenever you want.

GOP Boomer Gal said...


Yes, like being able to buy food at affordable prices; have decent housing, and be able to have affordable heating and cooling.

And not have to live in the density of a big crime ridden city.

Oh, and yes, being able to drive by Honda Civic when and where I want so I don't have to be part of the herd beholden to the government masters.

Sirocco said...


All nice things to have, I agree. Certainly, higher gas costs might affect some of these. Of course, you might gain other benefits as well, such as cleaner air, better health, etc.

Everything is trade-offs. Our fuel costs have been really quite low in the grand scheme of things, and there is nothing which says we are entitled to that. Those low costs have helped contribute, say, to the lack of road improvements which cause traffic back-ups ... which hurt our quality of life.