Gas TAXES Are Too High

With gas prices rising along with worldwide demand, the media is indulging in another attack on big oil. Sure, it doesn't help when Exxon Mobil gives it retiring Chairman a $400 million dollar farewell gift, but attacking oil companies whose profit margins on gas are less than 10% simply distracts people from the real issue which is supply.

By now, readers who have commented at Mike's America may have noticed the map of the United States showing the availability of undeveloped oil resources right here at home. But instead of talking about increasing supply until the happy day arrives when hydrogen fueled cars arrive, we're going to go and bash the oil companies one more time.

The motivation behind all this is another big government solution: A TAX INCREASE! Yep, instead of debating how we can increase supply, their is a move in Washington to slap the oil companies with another tax. And guess who's going to pay that tax? You and me, that's who.

The City Troll found this interesting chart:


Larger image here.
Taxes on gasoline already exceed the profit margin of oil companies by a significant amount. Adding another tax would simply be a windfall for government!

Wouldn't it be nice to solve the problem, not just tax it?

P.S. In a related story, guess what lefties are doing to protest the Exxon Mobil Chairman's bonus? They're boycotting Exxon and buying at CITGO, the oil company owned by Venezuela and the cash cow to fund dictator Hugo Chavez's continuing repression of Venezuela's people. One progressive web page insisted this would"help fuel a democratic revolution in Venezuela."

Yep, it's "democratic" when Marxist Venezuela uses police to round up political opponents, shut down free news media and rewrite the constitution to allow the "elected" Hugo Chavez to remain in office indefinetly.