Breaking Big Oil
- January 18th, 2007
- Posted in Ramblings
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Reuters
The new Democratic-led House of Representatives passed legislation on Thursday aimed at “Big Oil” that would roll back some industry tax breaks and force energy companies to pay more drilling royalties, valued at $14 billion over 10 years.
Alright, lets see if my math is correct. If currents estimates are right and the United States consumes 146 billion gallons of gas per year, then the oil companies would only have to sneak in less than one cent per gallon to make up for the loss. We pay slightly more, big oil keeps their profit margin (you don’t really think they’ll give it up do you?) and the congressional Democrats get to strike a Superman pose like they actually did something.
