Voiding Big Oil Tax Breaks

Gas has gone down 20 dollars a barrel in the last 3 or four months. Why do we still pay for much?

Answer: Why the hell not? There is no regulation for the tax companies, and there is no oversight. Remember back some year or two ago, when the oil companies made record profits? They claimed it was because people were driving more. Economists said it was because they charged people in advance of price increases (it takes months for oil to become gasoline, but the gas companies boost their price immediately after purchasing the oil for higher dollars per barrel). But the prices didn't go back down with barrel prices.

Whatever the reason, prices have gone up and with each increase the Bush Administration has REWARDED them with tax breaks, even though it did not show prices to drop. Shouldn't the oil industry pay taxes on the money they gauge from their consumer?

Finally they will. The Democrats have rescinded the Republican tax cuts, and are finally taxing them on the profits they have raked in over the past 2 years. Even if the Oil industry shoots up their price again, at least the ridiculous profits they earn will go back to the people who pay for them, and maybe the government can use the money to fund cost-effective alternative energy programs.