Should the government be investigated for the price gouging it does to oil?

If it wasn’t for all the federal excise and transportation taxes on oil, we’d be paying a lot less. Not the mention the obscene 35% federal income tax. Isn’t it government that is really driving up the price of oil?

7 Responses to “Should the government be investigated for the price gouging it does to oil?”

  1. alexg114 Says:

    its both speculators and our government but not for the reasons you suggest and the 1st poster sugested….

    The reason crude oil is so high right now is because the world is using more barrells then the opec nations are drilling.. ie supply and demand.. and the speculators are just doing that speculating on the demand versus the output…

    The givernment is to blame because we are not drilling here.. we have enough oil on our coasts and in our lands that we can be independant of opec.. however the government is afraid of special interests groups.. And while we use our resources we can then develop a technology in the mean time that will give us an alternative to oil…. then you will see us paying less then a dollar for gas.. and then acvtually opec will lower their pricves for countries around the world… and speculators wouldn’t be able to forcast the amount crude oil should be because the "value" of oil will drop signifacantly…

    And yes I agree that 35% percent income tax is way too much!!!!!

  2. Vince Says:

    No, it was speculators. The gov’t has put in regulations that do drive the price of gas up, but it was the greedy investors in the future markets that basically gambled on the price of goods in America. Not the government.

  3. xuserx2000 Says:

    what do you think is paying for the majority of our budget ?

    70 percent of which goes directly to the military…

    If you cut those taxes, we wouldn’t have much of a military at all.

  4. Time to Shrug, Atlas Says:

    Price gouging is a term used by politicians to rile up the less educated.

    Prices are nothing more than a signal to the market of what resource is most needed in what location.

    And despite the Crapitol Hill pandering, the primary cause of oil price increases is growing demand, and the markets fear that future supply will not be able to grow to accommodate demand.

    xuser2000: You might want to recheck your source if you truly believe that 70% of the US budget is military. Its more like 40%, with 40% going to entitlements, 10% to interest, and 10% discretionary.

  5. diceman Says:

    The Bush and. would be investigating itself. Everyone knew-put oil men in office oil prices and profits go up.

  6. susi Says:

    The government has nothing to do with this, it’s the speculators and OPEC!

  7. JundaKell Says:

    Oil companies do all of the pricing of gas not the government. All the government can do is either put more or less taxes on the gas and possibly put a limit on how high the price can be. They don’t set the price. This ol price is set by OPEC and that idiot in South America that hates North America not our government or anyone in America. I think you better go back to school and learn instead of skipping classes.