Sunday, May 1, 2011

Pump Prices

One way to discourage energy production is to raise taxes on energy producers. That idea is at the center of Obama's energy strategy. Four bucks a gallon for gas is cheap, I suppose, to the Obama crowd, so why not remove the tax incentives in current law to increase oil production?

This continues the Obama Administration's strategy of punishing those who make good decisions -- in this case the oil industry.

On the Obama Administration logic, why not have a special tax for Apple? Apple created products that consumers wanted -- the Iphone, the Ipad. Why not go after them with a special tax increase? Apple, like oil companies, guessed right. Why not punish them too?

Imagine you know a way to increase oil production at lower cost. Would you consider investing in such a process knowing that Obama is waiting in the wings to raise your taxes if you are successful?

One more example of absurd government policy designed to make a serious problem -- higher oil prices -- even worse.