Say Anything Blog

It’s rather shocking that people can lie like this with such blatant disregard for reality.  And, of course, this is an especially interesting tact for Obama to take given all the money he gets from oil company executives.

INDIANAPOLIS - Democrat Barack Obama on Friday blamed high gasoline prices on Washington and a political establishment, including his rivals for the presidency, that he says hasn’t stood up to oil companies.

So what’s Obama’s solution to the gas prices problem?  How does he suggest politicians “stand up” to oil companies?  By taking away their profits with a “windfall profits penalty.” Of course, anyone who thinks that confiscating the profits of a business is going to make that business’ products cheaper must be a graduate of the Hugo Chavez school of economics. 

In the real world taxation does exactly one thing: Adds expense to a business and thus raises the prices for the goods and/or services that business provides.  It’s too bad Obama has such a loose grasp on reality.

Of course, Obama’s suggestion that politicians haven’t been tough enough with the oil industry is absurd in the first place.  If you break down the price of a gallon of fuel you see that the entity which gets the largest cut of that per/gallon charge is, by far, the government.  In fact, the government makes more in tax revenues from the oil industry than the oil industry takes in profits.

Though you won’t hear any politicians - certainly not big-government liberals like Barack Obama - talking about facts like that.