| |||||
![]() |
[ Friday, April 28, 2006 ] Letter to the Editor
Government not at fault for sky-high oil prices
I have a real problem with The Daily Collegian's Board of Opinion trying to pin high oil prices on the Bush administration as it did in its editorial, "Bush Administration: Oil probe fails to give long-term solution," April 27. I think it would be much more beneficial for the board to look at the U.S. Congress and the environmentalists who are a bigger cause to the high price in oil and gasoline. The government profits more from taxes on oil than companies like Exxon Mobil do (the government made $56 billion in taxes from gasoline in 2005 compared to $37 billion in profits that Exxon Mobil earned). In fact, New York makes 63 cents per gallon of gasoline at current prices. Organizations like Greenpeace and the Sierra Club are preventing U.S. oil companies from building new refineries or drilling in the Gulf of Mexico. Tie that in with the environmental regulations that bump up refining costs along with the attempts to prevent drilling in the Arctic National Wildlife Refuge to protect caribou, and it's no wonder why gasoline prices are so high. Before the board goes and plays the blame game with the president and "big oil" for all of the world's problems, it should look at the real reasons for why a barrel of oil costs so much money? Nick Klein
junior - finance
R E L A T E D S T O R Y
| ||||
|
| |||||