As I mentioned previously, Phil Hare was in town yesterday railing against oil company price gouging and vowing to “fight the high cost of gas”. Whatever. If only it was true.
Instead, Hare engaged in some serious demagoguery saying he has voted for a bill that would allow the DOJ to sue OPEC for conspiracy and going on record supporting a windfall profits tax.
Holy. Freaking. Cats. Haven’t we learned anything from the 80s?
The nonpartisan educational organization Tax Foundation reports that over the last 25 years, oil companies have paid over 2.2 trillion in taxes which is three times what they earned in profits during the same period.
Further, the windfall profits tax enacted in the 80s had the effect of depressing domestic oil production and furthered our dependence on foreign oil.
If the oil companies flee overseas and OPEC refuses to sell us oil rather than risk being sued because of draconian Democrat policies, who will provide our gasoline? Labor unions? Get real. Hare hatin’ on oil companies is not going to fix high gas prices. It’s Econ 101 baby—supply and demand. If we are smarter about how we use energy and use less, prices will fall.
It’s embarrassing to be represented by a demagogue like Phil Hare who would rather pander to the proles than do the hard work that will make our nation free of foreign influence.
Phil Hare, the Pander Bear salutes you!