Blog This, Sissy!

Monday, April 24

In The News...Gas Prices..Isn't It ironic? Don't Ya Think? (partial lyrics by Alanis)

On a serious note, two Senators said the government should consider a tax on profits oil companies make if it is in excess. Sen. Carl Levin, D-Mich., said on CNN's Late Edition, gas prices would go down if Bush announced the Government will be imposing a "windfallprofits" tax on oil firms. This, if the new law would pass. I think they should, only, the government shouldn't pocket the tax. I think they should set aside those taxes and put it into a fund, for any costs relating to jumpstarted, or rather expediting the natural resource plans, energy proposals, they might have (hydrogen fuel cell technology) in an effort to not rely on or depend on foreign oil . The government shouldn't profit from this either. Oil prices are going up due to a reaction by the oil companies regarding the governments diplomatic efforts and interactions with Iran on persuading them from continuing their nuclear program, due to suspicion on creating a nuclear weapon. Also, Nigeria, with the rebel disruptions of oil production in Nigeria. Iran and Nigeria are two of the biggest oil producers in which we get our oil from. The US's suspicion is a nuclear weapon, in regards to Iran. Tehran insists it's for peaceful electricity generation, according to a news article. The government and it's relations with Iran and Nigeria are the causes of rising gas prices. So, if you think about it, it's ironic that Sen. Carl Levin is proposing a tax on this.
posted by Natalie at 10:11 AM

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