T Nation

Help for the Oil Industry


#1

Since the Dems wanted to tax the hell out of the Oils back when oil was $140/barrel, shouldn't the converse be true and we should subsidize Exxon, Chevron, and so forth now? I mean, if they control the price and were gouging us when it was high, then surely we should at least talk about a subsidy now that its fallen by half.

Look at how BP is suffering: 40% of their shareholders are Americans, many of whom were counting on their dividend checks to pay their bills. The Feds should immediately make up all the lost money and bail out those poor folks.

If their dividends are taxed and BP was going to be taxed when the price was high, we should now be subsidizing the company, out of fairness.

Or did people rant about the the oil price because they're either stupid or politically motivated? Ah, its all Dick Cheney's fault anyway...