I have been holding off posting because I didn't have much to say that wasn't about the CAVS and supporting LBJ's decision to dish the ball to Donyell Marshall. A host on FOX Sports radio said, "You gotta go for the dagger." Well my man, I'd say going for the wide open 3 for the win rather than the lay-up for the tie is the dagger.Anyway, back to something that is really important and I believe all my friends will be behind, since none of you are multi-millionaire oil barons, Robert Dille excluded. Here is an email I received from MoveOn.org yesterday:
As of yesterday, gas prices are the highest in U.S. history—we just passed the 1981 record, even adjusted for inflation. Prices could reach $4.00 per gallon in parts of the country, just in time to crimp summer vacation plans. As consumers suffer, the oil industry continues to reap the windfall—breaking profit records on an almost quarterly basis. It's outrageous!
Enough is enough. Hearings start today on H.R. 1252, a House bill that would make gas price gouging a federal crime, punishable by 10 years in prison. Speaker Pelosi has said she'll move the bill to a vote this week—if there's the two-thirds majority required to fast track the bill through the process.
Oil company lobbyists are frantically trying to stop the bill. Your representative needs to hear from you today. Will you sign our petition asking Congress to pass the price-gouging bill—and then send it to your friends?
Rep Bart Stupak (D-MI), sponsor of the House bill said this of his motivation to introduce the legislation:
"In April ... crude oil was $7 a barrel cheaper than last year (but) gas prices were almost 50 cents a gallon higher. Clearly there's more at play than simply the world crude oil market."
In April, more than two-thirds of Americans reported that their gas bills were causing financial crunches, with a full third saying it was having a "serious" impact on their families.
That same month, the top two US companies, Exxon-Mobil and Chevron-Texaco, announced a combined $14 billion in first quarter profits.
It seems like even the oil industry has gone too far this time, and it's time to balance the scales. The Senate passed a price-gouging measure out of committee last week, and the House bill now has over 100 co-sponsors from both sides of the aisle.
The oil industry is nervous. They've sent their lobbyists to the Hill in full force to stop—or at least weaken—these bills, and they're pulling out all the stops. The American Petroleum Institute, an industry front group of more than 400 oil and gas companies, even threatened that new laws could increase gas prices more.
Enough is enough. This summer, we can stop Big Oil from profiting at the expense of American families. Can you sign the petition to ask your representative to make gasoline a price gouging a federal crime now?
I did this yesterday and received a message this morning that they already had 143,000 signatures. As of right NOW! 356,569. It's hard to say they must be averaging 120 per minute, they've added a counter. It will take you a maximum of 45 seconds to type your name, you do not even have to leave a message, but you certainly can. 357,465!
6 comments:
Rembember one thing that everyone overlooks...almost 50% of the price of gas is state and fed. tax. There are proposals to increase these taxes as well. Gov't is gettin' rich, and not offering to lower the taxes even though their (govt) profits are rising along with oil co's.
The information I have found says state is 28 cents per gallon, and federal is 18.4 cpg. add in a 6% sales tax and that is hardly half of 3.49. These are set not a percentage. Not to say that I wouldn't like to see these go away too. These taxes pay for roads, which drivers use and cars destroy, and other infrastructure.
But oh yeah F the Government!
I believe there is a local county tax as well, I just can't find the information. Maybe you can gather that information today, make some call in between lunches or something.
Done. It was just shy of 395k when I signed.
In a capitalistic society, they have us - everytime I pull up to a gas station I feel like I'm going to a crack house without the illicit sex and Olde English 800 - it's all about supply and demand, if you look at a demand curve for this, it has hardly any slope, that means that regardless of price, the demand is relatively unchanged. For several reasons, I don't think more government regulation will help. Having said that, I think the question should be whether it should be regulated similar to an utility, it might be too difficult to do but evaluating the concept might provide value to the consumer. It's all about choices, I choose to work in Painesville and live in Ashtabula, consequently, at current prices, I spend about $50 in gas every 8-9 days. I could move or get a job closer to home but I choose not to do that. My suggestion is to move your investments into gas and oil companies and get some of your money back.
Kov,
All good points. Of course while this is a free market economy, not many other industries have the government fighting wars to protect their interests. I may choose to pay too much for a shirt at the GAP but the government isn't sending young men and women to die to protect cotton fields and rayon factories.
Also do you really choose to work in Painseville? Could you take a job locally doing what you do and support your family? Not that that's Big Oil's fault but it isn't much of a choice.
Part of me just wishes it would go to $5.00 a gallon. Maybe then Americans will take fuel economy and alternative energies seriously.
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