Daily Agitator
From the VOMITORIUM
The BIG news for the last month is the raging oil leak a mile beneath the Gulf of Mexico…..BP, the responsible party, has tried several different methods of capping this massive flow out of a broken drill hole. Their next attempt will be to pump drilling mud and concrete into the hole to try and seal it up and stop the killing of the environment.
Back in the day, the Exxon Valdez run a ground with a drunk captain at the wheel and was the responsible one and after years of litigation, the Supreme Court let Exxon off the hook for only about half of what they owed. The environment in Alaska that was effected by the oil spill, still has not recovered some twenty years later…..and the Gulf spill has all the earmarks as a much bigger spill with more devastation than Alaska.
Sorry to be a downer, but there are some things that the people need to know. There is a proposal before Congress as we speak…….
The House “oil spill response” measure, included among others in a larger bill, proposes that the tax be increased from its current rate of 8 cents a barrel to 32 cents. This is projected to raise nearly $10 billion over the next 10 years for the Oil Spill Liability Trust Fund.
A good idea, right? They want to replenish a quickly disappearing clean up fund and also to try and expand the fund. I hear the yell, “make them pay!”….if this passes it will do nothing to the company as a xconsequence of bad drilling procedures….it will be passed on to us, the American people…..
“We’re not talking a big impact here; we are talking about adding less than a penny to the cost of the fuel,” said Tom Kloza, chief oil analyst for the Oil Price Information Service, referring to the impact that the increase would have on the price of gasoline.
According to Kloza’s calculations, the 8-cent tax on a barrel of oil works out to 0.19 cents per gallon of gas. He said that an increase to 32 cents on a barrel of oil would equal 0.76 cents per gallon of gas.
Now you have something to yell about……you WILL be paying more and the oil companies will be making more…..YOU will be paying the oil company’s “irresponsibility” tax for them……once again the American people will be bent over and no lube…….Ain’t capitalism great?