Oil prices soar to $122/barrel; could go as high as $200

Amazing, and, all we hear is a 'gas tax' holiday, as if that's going to help anyone in the long term. Or, the other one, drill for oil in Alaska and destroy that beautiful area. Why is there little to no oil coming out of Iraq since this is why they invaded the place according to McCain.

If, oil reaches $200 a barrel, this country is doomed economically, politically and every other way.

Darn it! I wish I owned stock in an oil company!

Monie, its not that hard, all you have to do is call the company you might be interested in agent and fork over about $500 and you are in as a shareholder and put a $100 bucks a month in and, the returns/dividends are so sweet. This is a easy way to get into the market, although, you still have to pay these high prices.

Amber pays an arm and a leg for gasoline,

"...all we hear is a 'gas tax' holiday, as if that's going to help anyone in the long term."

Many suggest this is a political gimmick. Possibly so but there will be benefit. For average American families, not a lot. For poor people this will make a difference.

More important and not discussed by media, is savings for big rig truck drivers. Diesel fuel has a 24 cent per gallon tax contrasting the 18 cent per gallon tax on gasoline. A truck driver burns through hundreds of gallons of diesel over just a few days. This holiday gas tax event will make a big difference for big rig operators.

Another important issue is the total amount of money saved on gasoline and diesel fuel will end up back in our economy. This will be hundreds of millions of dollars injected back into our money flow. This will help with our economic recovery.

A subtle issue, a reason I support Clinton, is her plan to tax oil companies to pay for this holiday tax event. She offers a way to pay for this but more important, she is easing America and oil companies into this notion there will be windfall profit taxes on oil companies and tax loopholes for oil companies will be closed. She is preparing oil companies for what is to come.

There is no doubt oil companies are engaging in price gouging, are stealing money from American families and businesses. Clinton is giving notice to oil companies she intends to come down hard on them. This is needed.

Neither McCain nor Obama have plans to make oil companies pay their fair share to America in exchange for their vulgar profits.

All of this will have no effect on the price of oil, this America cannot change. However, windfall profit taxes and closing tax loopholes will generate billions in tax revenue which can be used to help financially strapped Americans.
This is what Clinton is proposing.

Doubtful any will disagree with her plan on oil; nobody likes big oil companies, except for Cheney, Bush, McCain and almost all republicans.

Okpulot Taha
Choctaw Nation

Actually Purl gurl, its not sound economic sense as many leading economists have said. It would give the average driver a half a tank, and, all the while money is being taken from fixing roads that are already bad, so, its a gimmick. Drive down any major highway and they are in horrible shape, bridges collapsing due to no moneyfor repairs, and, they want a gas tax 'holiday?' Oil prices are based on futures more than anything else, along with the issue of getting it in from regions of the world that are strife ridden ,not what's going on in an election or who might win. No one wants to pay high prices, but, the rest of the world already does, like $8 bucks a gallon in Europe, and, until the USA rids itself of big gas guzzlers, all the 'tax holidays' under the sun won't lower prices when demand is high all over the globe.

A simple google search will show this as a fact of why this is not sound policy for anyone, other than the two who want votes based on flimsy economics. And, the issue of rising food prices has more to do with farm subsides and the rush for ethanol, which was a horrible bill to have been passed, along with bad weather and again futures.

Jared writes,

"...all the while money is being taken from fixing roads that are already bad, so, its a gimmick."

No, not under Clinton's plan. She will replace this money through an imposed tax upon oil companies.

McCain has no plan to pay for this.

Obama simply refuses to provide gas price relief but is using his refusal as a gimmick to lure votes.

Do not mislead readers. Clinton's plan is logical and very workable. No tax revenue will be lost. Her plan shifts the tax burden upon oil companies.

Again, no money is lost through Clinton's plan. Americans do not have to pay this tax. Oil companies have to pay this tax. All which changes is the oil companies will have to pay instead of American families.

If you wish to debate, I would contend both Obama and McCain are using this as a political gimmick while Clinton proposes a workable plan.

This is a main difference between Clinton and Obama. Clinton proposes plans which are workable, Obama does not propose workable plans.

McCain simply does not have a clue about anything.

Okpulot Taha
Choctaw Nation

I'll pay 100,000 for each kid thats of a Goldman Sachs employee or oil companies kid that is killed! Burn them alive or behead them and I'll pay 100,000 for each kid killed!

Jared you hit the nail on the head. It is sad to see people go out of their way to defend an idiotic policy.

The gasoline tax is what is help building the infrastructure of the country. The revenue lost from a tax break of any kind will have to be made up in some way or the other be it higher tolls for bridges or tunnels, food, property, or income. If you look at your telephone bill be it house or cell phone you are paying three taxes on it. Federal, state and local. Plus a 911 tax.

Purl Gurl:

You said:

“Again, no money is lost through Clinton's plan. Americans do not have to pay this tax. Oil companies have to pay this tax. All which changes is the oil companies will have to pay instead of American families.”

Oil companies will just raise the price of gas to compensate themselves for the added taxes they pay, as if the ridiculous profits they already make are not enough.

MLee brings my feet back down to earth,

"Oil companies will just raise the price of gas to compensate themselves for the added taxes they pay, as if the ridiculous profits they already make are not enough."

Ah ha! A voice of reason. Yes, this will only work if our government includes some sort of strict regulation to prevent passing along the tax cost to consumers. This will be difficult.

I sense you do not like big oil companies. I do not believe much of anyone likes big oil companies, except for Cheney and Bush.

Today, MLee, I read very good news of some action being taken by senate democrats,

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"WASHINGTON (AP) — Senate Democrats on Wednesday called for a temporary special tax on oil companies’ profits and a rollback of $17 billion in oil industry tax breaks as part of an energy package. The Democrats are also seeking federal penalties on energy price gouging and a suspension of oil deliveries into the government’s emergency reserve."

http://www.nytimes.com/2008/05/08/washington/08fuel.html?ref=us

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This is, of course, about ten years too late but nonetheless welcomed. Gas prices will not be effected but this will allow for more tax revenue coming into the Feds. What the Feds do with this new tax revenue, is questionable.

You know Bush will shoot this down. Chances are McCain will support a Bush veto. We shall see; McCain might value votes more than oil companies.

Actions like this set the stage for coming down on oil companies which is much needed. This is in keeping with Clinton's proposed economic policy; she is advocating making oil companies pay their fair share of taxes to give tax relief to American taxpayers.

Okpulot Taha
Choctaw Nation