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O'Reilly wrong on oil

 

Bill O'reilly is off track on the oil solution.

1. Brazil has no excess fuel to sell and no capacity to make more should they want too. This is NO solution.

2. Oil profits are NOT excessive. Over the past 5 years the average has been 8.1%. Many businesses including the McCain’s beer distribution make far more (19.5%). Let’s not forget too that “the folk’s” money is at stake in the form of pensions, IRAs and stocks when you attack the oil industry.

3. It is not now nor will it ever be the oil industry’s responsibility to find alternative energy sources. Car manufacturers are responding to the demand for different products. Wind energy companies are improving their technology. Battery makers are working to improve their products as well. The nuclear energy industry is poised to jump in when green lighted. None of this is the job of the oil industry.

4. The oil industry in America has been hampered by environmental nut jobs for decades from getting to the oil that is rightfully the resource of America. Congress should tell the environmentalists that this is as you put it “a national security issue” and let the oil companies do what they do best, which is increase our (and by extension the worlds) oil supply.

5. The tax imposed upon gasoline gives the government the only true “obscene” profits related to oil. If you add up all of the taxes imposed on oil from the feds to the cities, the burden at the pump is ridiculous. This is where the real obscenity lies!

6. The federal government is a huge part of the problem and there is no way in which they can truly help other than get out of way. We can not legislate our way out of this. The feds only make things worse whenever they are involved in “helping” Americans out of a crisis. (See Social Security).

7. I say the answer is simple. Nuclear power, drill here drill now, lower gasoline taxation at every level, tax incentives for alternative technology advancement and get government out of the way in every part of this.

Tags: oil crisis  
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