Stein: Stop Whining And Blaming Oil Cos.
Worried About Gas Prices? Ben Stein Says Don’t Look To Government Or OPEC To Help
May 25, 2008
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(CBS) Like many of the rest of us this weekend, Contributor Ben Stein has his eye on the gas pump:
Topic A on everyone's mind these days is the amazing price rise of oil and gasoline by historical standards.
Herewith, some good news and some bad news.
First, the bad news: Nothing - and I mean nothing - the
Stopping buys for the emergency stockpile will have no effect at all. These purchases are less than one-tenth of one percent of daily worldwide demand.
Cancelling the purchases is precisely the same as not paying life insurance premiums when you're worried about money. It is nonsense.
Laws taxing oil speculators will do nothing. Most of the speculation is going on outside of
And if we stopped having a free market in oil, it would go back to being an OPEC-fixed price. Do you think they would be kind to us? If so, why?
Taxing the oil companies is the worst possible idea. We should be giving them tax incentives to pump more oil, not punishing them for pumping oil … and their profits have absolutely zero to do with setting the price of gasoline at the pump.
Read the rest of his column here: Stein: Stop Whining And Blaming Oil Cos.
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