Friday, December 16, 2011
12/5/2008,Survey:Obama's no windfall profits tax shows he is "a symbol" for change not "a agent" for change.?
First of all I take anything Bill Clinton says with a grain of salt. He was a sell out when he was in office and backed down a lot. All we can do is hope Obama doesn't also sell out as much. Oil prices went up not entirely because of the oil companies. Traders and speculators switched to oil when the housing securities markets tanked. The Suadi's didn't like it totally when prices were high, (and tried to increase their production), because it made the world decide to go greener and that will make oil demand also lower. Oil prices are now low because the whole economy is in the tank now and demand for oil has lowered. I do believe that during the Bush presidency oil prices went up because of his tolerance to them and his being in the oil companies pocket. They seemed to get lower around election time conveniently too. Now that oil is inexpensive the oil companies are getting some pay back. While oil is cheap a windfall profits tax will not be politically doable.
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