Funny, no one complained about the oil companies when oil was $15 a barrel. Oil prices, in inflation-adjusted dollars, were at fifty-year lows just a few years ago. So oil prices shot up and the oil companies made a bunch of money- good for them. Now that the global economy is cratering, oil is plummeting. We may see $40 a barrel before the end of the year.
Oil is a cyclical business, it always has been. Tax credits encourage exploration and development in bad times and good. We need oil, there is no getting around it in the short term, and tax credits are one tool the government can use to encourage investment in the industry. One thing we should have is comparable tax credits for all alternative energies. I don't know offhand what that landscape looks like, but we need to be encouraging ALL energy investment, particularly clean energy like solar, wind, and nuclear. On Tue, Oct 28, 2008 at 6:54 PM, Maureen wrote: > The greatest re-distribution of wealth in history has been from the > pockets of the working people to the pockets of the oil companies, who > continues to receive tax credits in the billions. > > Why that doesn't bother so-called conservatives baffles the hell out of me. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:277165 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
