“We at the moment are in very energetic discussions with our European companions about banning the import of Russian oil to our international locations whereas, in fact, on the similar time sustaining a gradual international provide of oil,” Secretary of State Blinken stated on “Meet the Press” on NBC final Sunday. Then now we have Biden blaming the worth rise of gasoline on Putin ignoring the truth that costs have been hovering earlier than the Ukrainian disaster. This picture is from California months BEFORE the Ukraine manufactured disaster.
Now now we have Congressional Democrats who’re about to create a good worse scarcity by proposing a brand new tax on giant oil firms designed to “curb profiteering” by redirecting earnings related to increased crude oil costs to again drivers. The Large Oil Windfall Income Tax Act, launched by Sen. Sheldon Whitehouse of Rhode Island and co-sponsored by 11 different Democratic senators on Thursday, would acquire a portion of the earnings firms are presently yielding with oil at its highest premium in additional than a decade and return it to shoppers as quarterly rebates. That is our drawback. We’ve got folks in authorities with ZERO understanding of even how the financial system works. Imposing such a tax of this nature will create shortages for it’ll act as worth management.
