[Txsleuth]

They want to pay for the "tax cuts", by taking away the tax cut incentives they give to the oil companies...

which means the oil companies will have to add what they will be losing, to their product I would imagine...

AND, like has been stated....the demand will go UP...which will mean shortages...because cutting into the money oil companies have...will slow down their repairs to the refineries in the Gulf of Mexico..that are still down from Katrina...

just a few observations...

[misterrob]

I'm not sure I buy that one. Oilcos will look to maximize total profit so the more that they can push on the market they will if the price is right. The tax credits are going to become more and more unpopular as time goes on. Now, one can say that tax increases get passed on to the consumer but only to a certain point as people will simply curtail their usage patterns.

I agree that profits will go down though.

[mtnwmn]

Not to mention the possibility of new hurricanes! I think people who can do their jobs at home via the computer should be allowed to do so.....at least a couple of days per week. This would save on consumption and help out working folks.

[calex59]

People who say the demand for gas will go up with price drops or down when price goes up are kidding themselves. Gas use changes very little with price. People still have to work, get their kids to school, games, practices and other events. They will still burn gas when it is high. Lowering the price will not increase demand significantly. On top of that it is hard for average person to go out and buy a new more gas efficient car. Gas is not an elastic commodity.

However, the price will not stay down as the gov will take incentives away from the oil companies and they will add it to the price and we will be right back where we started. Same thing applies to "windfall" taxes. We will pay in the long run and gov will reap the profits.

This is about government stupidity and greed and has very little to do with free market enterprise. Take off the restrictions and let the market roll.