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Originally Posted by SentToStud
No one was crying for these oil companies when oil was $10 a barrel. Plenty of oil industry firms went bust. If you tax this, what is next? Do i-Phones really need to cost $600? Why not $200?
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American Oil Companies take 33% of the oil out of land owned by the federal government. They got sweet deals and basically pay the government nothing in royalties. They are not like other businesses. They also get free protection from the United States military. They have infrastructure throughout the world, especially in the middle east, and the US military spends over $40 billion a year protecting it. Oil companies screw the public because they can. If they are going to screw the government out of royalties than the government should screw them back.
Alternative fuels though are the way to go. The oil industry though is doing everything it can though to pay off the auto industry and the government so this does not happen. Remember the auto industry bought the technology for the electric car battery and then the oil industry bought it from them so nobody could use it. No conspiracy there. Just reality.