Windfall taxing big oil: how to make the gas crisis worse

The Register ^ | August 13, 2008 | Tim Worstall

[hreardon]

There's something about the oil business that turns even intelligent people into frothmouthed loons: they're raping the planet, shafting Joe Sixpack or, from the other side, insisting that the drill in every back yard is the very definition of America. I realise that in the middle of an election that the small still voice of reason isn't going to get much airplay but let's give it the old school try anyway.

[hreardon]

Amazing to find something like this on an IT-related website. Truly amazing....

[garyhope]

Just in time, just as oil is set to probably fall back under $100 a barrel.

Bought an energy stock yesterday, watched it sink today. Thank you “Big Oil”.

[evad]

WSJ had a great article on the Obama Windfall Tax Plan

http://www.freerepublic.com/focus/f-news/2057580/posts

This communist is absolutely scary.

[ronnie raygun]

Wow, a new plan from the taxocrates

[DallasBiff]

If Obama and Queen Nancy Pelosi would get out of the way, and let do what oil companies do best, find oil, there wouldn't be a problem, but Queen Nancy has hooked up with T. Boone Pickens to promote wind, which those two have a lot of, to promote a raping of the American taxpayer.

Just my two cents, I think Queen Nancy, Obama, and T. Boone were thinking they could ride the wave of high oil prices to victory on this Boonedoggle, but the House GOP are proving them wrong.

[Enchante]

an aside, the author give Obambi too much credit:

"I know the man is more intelligent than I am (I'm not going to be offered a Chicago Chair, not in this lifetime) so why is he offering something so blindingly stupid?"

There's no evidence that Obambi is all that brilliant intellectually, he's just a gifted con-man, which is not the same thing. He did not have some tenured "chair" at U. of Chicago (though who knows what they might offer the con man in the future??), he was a part-time lecturer teaching one tendentious politically correct course on race and the law. He published zilch and has zero intellectual accomplishments to his name. So while he obviously has something going for him to be the Demagogues' nominee for President, let's not pretend he's some uber-genius.

[luvie]

Idiots!

They have no clue that by taxing the oil companies they are
taking money for salary away from the WORKERS!

Complete fools is what they are!

[FBD]

To: ALL

can someone explain to me how the oil/ mineral leases work?
I keep hearing this mantra about how oil company already have 70 some milllion acres to drill on, yet aren’t.
I’m sure it’s because of EPA regs, or possible low grade oil available, difficulty or whatever.

But I’m looking for an intelligent response to this liberal retreaded argument

-regards