"I'll make oil companies like Exxon pay a tax on their windfall profits, and we'll use the money to help families pay for their skyrocketing energy costs and other bills."Uh yeah, sure, Senator. Because I'm sure that once you tax Exxon at a higher rate, they'll just cut Rex Tillerson's compensation, rather than pass the tax along to consumers in the form of higher gas prices. I thought liberals were hyper-cynical about oil companies and their CEOs, and yet, suddenly, Obama thinks that oil companies will graciously keep their prices the same in the face of higher taxation - I seriously doubt Obama's eloquence will be able to achieve that.
What's more, as everyone knows, gas prices are set by supply and demand. Increasing the cost of producing oil for companies like Exxon is only going to decrease the amount of oil they supply, which will have the result of further increasing gas prices.
So basically, nothing Obama is supporting would result in lower gas prices.
Though does he even care?
2 comments:
Nice. Don't wish the rest of society would actually think about what is being said? Now, that may be too much to imagine because I am not all that certain that certain delegates are thinking about it.
Sorry, but the simple law of supply and demand of economics no longer apply to the oil industry. Why DON'T YOU really look at some of the facts. Here they are for YOUR viewing. ENJOY!
McCAIN’S $4 TAX BREAK FOR HIS EXXON BUDDIES
http://www.politifact.com/truth-o-meter/statements/563/
McCain Giving Exxon MORE BREAKS
http://www.huffingtonpost.com/david-roberts/john-mccain-and-exxon-val_b_88944.html
OH, WAIT…..LOOK WHO’S RUNNING McCAIN’S CAMPAIGN AND MAKING MILLIONS IN DONATIONS…….BIG OIL!
http://www.youtube.com/watch?v=kncYIEIkdSo
McCain Helping Exxon MAKE MORE MONEY
http://www.prospect.org/csnc/blogs/beat_the_press_archive?month=04&year=2008&base_name=mccain_proposes_special_summer
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