August 10, 2005

Gas price madness...

Today, oil hit a new high ($65 per barrel) and local prices are around $2.50 per gallon yet all I hear is about the evil gas companies....

People, the price of gas would come down if any (or all) of the following would happen:

1) Lower the taxes on the gas! The Feds have an 19¢ tax on gas and all the states add their taxes on top of that! Several have 30+¢ not including several additional fees/taxes that some states have added: (e.g. Plus 1.1¢ fee on gasoline going into USTs. Includes 18¢ oil company franchise tax on liquid fuels (primarily gasoline) and 23¢ oil company franchise tax on fuels (primarily diesel) and a 12¢ tax liquid fuels tax rate. (Oil company franchise tax rate increased from 14.2¢ to 18¢ for gasoline and from 19.2¢ to 23¢ for diesel on 1/1/05.) Franchise tax based on the average wholesale price of gasoline during a 1-year period.)

2) End the 40+ blend requirement and require only a FEW blends.

3) Stop allowing oil companies to merge and be sold off to foreign interests. - as a matter of fact, break a few up and make a bit more competition.

4) Start pumping oil from our own untapped fields.

Wake up and start demanding that the politicians do something other than blame the oil companies!

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