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Simcountry is an Online Digital World where you are the President of a country.
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DavePat (Fearless Blue)

Sunday, May 25, 2008 - 07:01 pm Click here to edit this post
Again ignorance of what has gone on is revealing itself as the socialists attempt to rewrite history. In the US we have not built a new refinery in nearly 40 years while plants continue to grow. The amount of raw material oil being held far exceeds the ability of the plants to refine it. Untapped sources of oil are being discovered daily yet not one new source well has been opened in 25 years. This has been accomplished by a series of legislative actions which have made the process of building new refineries and opening new well heads so expensive that even if the profits from 5 dollars a gallon were applied would not create a situation where the companies could even break even.

Allow me to address this conservation issue. Although good on paper and in theory there is no actual reason for it. It is merely another of those make believe issues. The fact of the matter is the world oil reserves have remained constant for 40 years despite usage.

Profits of oil companies are keeping our retirement system alive. 80% of all oil stock is owned by annuity funds of one form or another. These in turn fund the retirement system in this country by around 50%. Exxon, Cheveron, all the oil companies pay 41% of their profits in taxes so the greater the profits the more in tax revenue collected so of course there is no real reason for government to do anything. Although the tax at the pump of 18 cents doesnt change this money is used to fund the building and mataince of highways in the US and allow me to add the SOLE source of such funding. Yes thats right not one general fund dollar is used to fix up our roads. Soecial bond meassures are used locally and by states to do the same as well as their own state taxes on gasoline. This is why when I hear Hillary and Obama talk about nationalizing the oil industry and their profits I laugh till I am in real pain. The socialists created this situation and have used it over and over again to stay in power.

The situation in Europe is not much different except that have to import most of their oil well actually with the EU import takes on a whole new meaning of course. Europeans long accepted higher prices at the pumps and of course more government control over their lives, where they live, how they live and where they work as a result. Having known nothing different i am not surprised most europeans fell they way they do and think the way they think, but just because you live that way doesnt mean the US should. Unlike Europe we are very spread out, and your systems of mass control dont work well here even in our largest cities like NY, Atlanta and Chicago.

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