The GOP and BO
So, just who’s in bed with whom here? Big Oil, that would be the “BO,” are probably sending a lot of thank you notes to the GOP today. Or maybe they’re just writing great big campaign donation checks to Capital Hill Republicans. Why you ask? Thanks to the GOP, the BO will continue their price gouging ways, sticking it to the consumer at the gas pumps.
The Senate voted 51-43 to impose a windfall profit tax on the nation’s five leading oil companies in order to ease some of the pain consumers are feeling at the pump. The outcome of the energy bill was far less than the 60 votes necessary to overcome a promised GOP filibuster. As a result, the legislation is effectively dead. If the measure had passed, it would have taxed the “unreasonable profits” big oil companies are now raking in on the backs of the consumer at the pump. It would have also allowed the federal government to clamp down on oil market speculation, which is one reason for the soaring prices of crude oil. In other words, it would have started to clamp down on the obvious price gouging at the pumps now going on by big oil.
But alas, nothing will change. The big oil companies continue to laugh all the way to the bank in the midst of their monopoly. They will continue receiving billions of dollars in tax breaks from the government, and they will continue to pad their bank accounts. The government had an opportunity to start addressing the big oil monopoly, but instead, they did nothing.
I guess in the end we need to thank the “Good old Boys” in the “Grand Old Party” for once again forgetting about the little guy. Instead, they’re sticking up for the big guy who in turn give millions of dollars to their fund raising campaigns on a yearly basis.
Just my two cents,
Dr. Rus
John McCain yesterday during a town hall meeting at Federal Hall on Wall Street called for a federal probe into speculators driving up oil prices.
Meanwhile, today’s New York Daily News reports stations here in New York City where gasoline costs more than $5 a gallon!