WASHINGTON - House Republicans on Thursday refused to support billions of dollars in new taxes on oil companies as lawmakers in both parties looked for ways to soothe election-year rage over high gasoline prices.
Senate Republicans proposed a $100 fuel-cost rebate for millions of taxpayers. Democrats talked of a two-month suspension of the 18.4-cent per gallon federal gasoline tax.
Despite the jockeying for political advantage, economists and energy experts generally agreed that the government has few, if any, immediate powers to drive pump prices down for their $3-plus perch. "Unfortunately there's nothing, really, that can be done that's going to affect energy prices or gasoline prices in the very short run," Federal Reserve Chairman Ben Bernanke told a congressional hearing. Nonetheless, lawmakers scrambled to put together legislation they hoped would show their sympathy for motorists and their willingness to stand up to big oil companies.
Isn't this typical? When there was something that could be done. (Maybe 2-3 Years ago) congress was debating something important like whether shit balls would make you obese. Energy legislation has been needed for many moons but every time it's proposed, it's just that, a proposal. Lobbyists convince everyone in the hallowed halls that it isn't necessary, they can police themselves. Hey Esau, the horse ran off, wanna close the barn door now. There's about as much proactiveness in Washington as there is in the destruction of an ancient sheeet house. Sweet Jesus, election coming up next month we gotta give them a carrot to at least look at. Both proposals are rediculous. A hundred bucks won't fill a truck tank and more taxes on oil will just be passed on to the consumer anyway. What we, the USA and other oil consuming nations need to do, is to form our own consumers' coalition, tell OPEC we'll pay 45 bucks a barrel, take it or leave it. Then use the oil reserves we already have and our own supply to see how long they wait before agreeing. Might work, can't hurt.
How about taxing the oil companies and giving tax rebates for building new refineries? I know one thing, the American public deserves a no bullshit explanation as to why crude prices are what they are, and explain why fuel prices increase at the rate they do and decrease at about a tenth that speed. Instead of running round with their heads in their assses or in the lobbyists' asses tell us. No politics, an independent investigator, the whole works.
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