Besides, government already gets more $$$ from the gas taxes than the oil companies get in profits.
Short term solution: moratorium on gas tax for 3 months.
Long term solutions: Build more refineries, drill for oil in ANWAR and off coasts, build more nuclear plants, tell extreme environmentalists to take a hike.
Excise taxes are huge costs for oil companies,they pay 10% on the first time the gas/oil is sold. The problem is what do you do when oil hits 80 or 90 bucks? And what about the budget deficit? The govt. needs the windfall of huge bucks to fund the outrageous deficits we now have.
I saw Buchanan he had one of his few lucid moments.
Have you tried solving some of our other series problems. You have this one all wrapped up IMHO. Now if Congress and the President would only listen.
Agree with your solutions. Buchanan is a bitter old twit.