Tag Archives: oil companies

Rethinking the Windfall Tax on Oil Companies

I have been an opponent of putting a windfall tax on oil companies, particularly in light of the fact that on profit per dollar basis, drug companies and banks make more than twice the profits of oil companies. However, in light of the current economic crisis, and the fact that they have risen diesel so much right before a bunch of new diesel cars come out, I have rethought my stance and think that we should put a windfall tax on them. This doesn’t mean I don’t think we shouldn’t put a windfall tax on the drug companies and banks as well, we should, but each of the three need to be separate bills. All three industries are taking advantage of average Americans, but the oil companies are the ones who probably need the biggest windfall tax of the three.
With gas at $3.60/gallon, diesel should be $3.71 (traditionally diesel has commanded a 2 to 3% premium in the United States over gas, though it is cheaper in most other countries), even if we say the new ultra low sulfur diesel costs a bit more to make then the old diesel (still cheaper than gas), we’ll allow it to be $3.78. Right now, with gas at $3.60, diesel is $4.35, a bit more than a 20% premium, not quite enough to offset diesel’s overall efficiency over gas, but almost. Clearly they are worried about the car companies coming out with diesel cars and are trying to scare average American’s away from diesel. After all, if people realized they can get better gas millage from a diesel than a hybrid, and have a lower CO2 emissions with that… then that spells thin days for the oil industry, especially since bio-diesel can be made so effectively and without sacrificing food crop space the way Ethanol traditionally does, and as a bonus, doesn’t need as much oil as Ethanol does.
Anyhow it isn’t just the diesel issue, it is the fact that gas prices are hurting the average American, and the oil companies, their investors and boards are making a killing by raping American’s wallets.

Department of No Shit Sherlock

I saw a report that said that Antidepressants may not be as effective as popularly thought. Worse, the studies that prove certain drugs are ineffective are very seldom published in medical journals and literature. This is above and beyond the known side effects of antidepressants, such as them actually increasing the suicide rate among teens, despite which, if the school tests your kid and thinks they are depressed and it is confirmed by a psychologist, they will need to be on antidepressants in order to continue going to high school… and that little law came courtesy of the Bush administration who isn’t nearly as in bed with the drug companies as the Democrats are, especially Clinton, and remember the drug companies make twice the profit as the oil companies for which he is deeply in bed with… of course one typically doesn’t go to war to secure drugs. I’ve talked about the secret testing of teens in school before so I won’t cover it more now, outside of reminding everyone the only candidate who has tried to make laws requiring notified informed consent to test the kids at school with no negatives if they refuse consent it Ron Paul.
Anyhow, I am typically of the opinion that drugs seldom work as well as advertised and in general probably have more negatives then positives. This isn’t to say that we should avoid them. I take acetaminophen or Aspirin if I get a bad enough headache that I think it warrants some. Doctors, medicine and drugs can be good, but we tend to overdo it and over-prescribe. Natural remedies tend to be ignored as they result in less profit for the drug companies. This is perhaps the number one reason that marijuana is still illegal, its effectiveness to cost ratio is too good compared to the pharmaceuticals that have been used for years to replace it. (The other reason being that the drug war costs tons of money which means lots of taxes need to be collected for law enforcement and the military, ending the drug war as it is fought now and moving to treatment would result in billions being saved, and despite all the posturing by politicians, saving money isn’t what they are about.)
This study won’t matter in the end. The public will soon forget; they will be enticed into taking drugs they don’t really need by ads on TV.