DougM

Obama's Green Promise

You propose an import tax on oil to make it more attractive for companies to produce more oil at home. News flash: it's *already* plenty attractive for them. They go literally to the ends of the earth to find oil and yet still can't replace their reserves. They're being tossed out of the most promising areas abroad by the likes of Chavez and Putin. What's stopping them here then? Obama, Pelosi, and Reid have slammed the door in their faces on our most promising resources. An import tax may or may not be a good idea, but by itself it won't be enough to raise production at home. The most likely effect is that it will raise prices on consumers (good, because it will get them out of wasteful SUVs) and create a profit windfall for the companies as their remaining domestic reserves rise in value to the new market price inside the country.