McCain announced this week his plan to drill for Oil in Alaska and offshore in order to give relief for folks at the gas tank.
McCain also suggested a National Gas Holiday, that would help ease the pain at the gas pump for most Americans. Obama has come out against the proposal citing that relieving the gas tax would give into big oil companies and would cut into revenues for the government.
Let me ask one thing of Obama, who is he looking out for, families or the government. Obama of course would argue that he's looking out for families because its Big Oil faults for rising gas prices. I think he may want to analyze that position again.
You see....its government's fault for the rising oil prices. Let me spell the reason out for you.
I-N-F-L-A-T-I-O-N....yes folks. Our dollar is as weak as ever. A week dollar means something will probably be more expensive. In economic terms...which for many political junkies may be hard to understand, the nominal price (or price in terms of real dollars) has been steady for a number of years. However, just a small shift in the nominal price of oil will raise the price tremendously during times of inflation...which we are experiencing right now.
Even better yet... Wall Street analysts are blaming it on oil futures. Yeah a big word isn't it.
Oil is bartered and sold at auction everyday on commodity markets. Oil futures are commodity future that batter for oil. Barrels of oil are then bought by oil refineries such as Exxon Mobil, Shell, BP, Texeco, ect, and they process these barrels of oil into gasoline. (In Illinois, we use environmental additives mandated by law, which makes the oil burn cleaner and its better for mother nature)
Question is why isn't Obama not lifting the Federal gas tax. As an libertarian economic conservative, less taxes mean lower prices and less pressure for Americans to meet ends meet. Families are squeezed to the limit already, and they simply cannot afford the essentials to meet their ends.
Taxes hurts Americans. When you tax oil, you tax the families directly whenever they fill their gas tank, the products that they buy, and generally inflation rises again. These sorts of taxes really are double, triple taxation on families and Americans because when taxes are imposed on businesses and operations, they buck must fall on the consumer.
Drilling offshore means we don't need to deal with OPEC. They have been a headache already, and I am a believer of less bureaucracy. Lets cut to the chase and start drilling.