{"id":103,"date":"2008-05-29T15:20:30","date_gmt":"2008-05-29T19:20:30","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=103"},"modified":"2008-05-29T15:20:30","modified_gmt":"2008-05-29T19:20:30","slug":"congress-to-blame-for-high-oil-prices","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2008\/05\/29\/congress-to-blame-for-high-oil-prices\/","title":{"rendered":"Congress To Blame For High Oil Prices?"},"content":{"rendered":"<p>That&#8217;s what Mackubin Thomas Owens says in an OpEd piece in today&#8217;s Wall Street Journal.<\/p>\n<blockquote>\n<p class=\"times\">Gasoline prices are through the roof and Americans are angry.  Someone must be to blame and the obvious villain is &#8220;Big Oil&#8221; with its alleged  ability to gouge consumers and achieve unconscionable, &#8220;windfall&#8221; profits.  Congress is in a vile mood, and has dragged oil industry executives before its  committees for show trials, issuing predictable threats of punishment, e.g. a  &#8220;windfall profits tax.&#8221;<\/p>\n<p class=\"times\">But if there is a villain in all of this, it is Congress itself.  That venerable body has made it impossible for U.S. producers of crude oil to  tap significant domestic reserves of oil and gas, and it has foreclosed  economically viable alternative sources of energy in favor of unfeasible  alternatives such as wind and solar. In addition, Congress has slapped  substantial taxes on gasoline. Indeed, as oil industry executives reiterated in  their appearance before the Senate Judiciary Committee on May 21, 15% of the  cost of gasoline at the pump goes for taxes, while only 4% represents oil  company profits.<\/p>\n<\/blockquote>\n<p class=\"times\"><a title=\"Go to &quot;Blame Congress for High Oil Prices&quot; at wsj.com\" href=\"http:\/\/online.wsj.com\/article\/SB121201723656327625.html?mod=djemEditorialPage\" target=\"_blank\">Read the rest&#8230;<\/a> It&#8217;s well worth your Time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>That&#8217;s what Mackubin Thomas Owens says in an OpEd piece in today&#8217;s Wall Street Journal. Gasoline prices are through the roof and Americans are angry. Someone must be to blame and the obvious villain is &#8220;Big Oil&#8221; with its alleged ability to gouge consumers and achieve unconscionable, &#8220;windfall&#8221; profits. Congress is in a vile mood, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[35],"class_list":{"0":"post-103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-oil","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-1F","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":89,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/05\/06\/gas-prices-and-politics\/","url_meta":{"origin":103,"position":0},"title":"Gas Prices and Politics","author":"Jeff","date":"May 6, 2008","format":false,"excerpt":"The only thing worse than a trip to the gas pump these days is listening to John McCain, Hillary Clinton and Barack Obama talk about energy policy. John McCain and Hillary Clinton both say they'll bring us relief at the pump with a temporary moratorium on the 18.4 cent per\u2026","rel":"","context":"In &quot;Money &amp; Investing&quot;","block_context":{"text":"Money &amp; Investing","link":"https:\/\/www.jasetaro.com\/blog\/category\/money-and-investing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/08\/04\/back-to-the-70s\/","url_meta":{"origin":103,"position":1},"title":"Back to the 70&#8217;s","author":"Jeff","date":"August 4, 2008","format":false,"excerpt":"Everything old is new again or here we go again... Back to the 70's. Every time I listen to democrats in talk about energy policy I feel I've been transported back to the 1970's. Admittedly some of of their suggestions like making sure your tires are properly inflated or getting\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":577,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/02\/palate-cleanser-hank-williams-jr-thats-how-they-do-it-in-dixie\/","url_meta":{"origin":103,"position":2},"title":"Palate Cleanser: Hank Williams Jr. &#8211; That&#8217;s How They Do It in Dixie","author":"Jeff","date":"October 2, 2008","format":false,"excerpt":"I need a break... Between the cold from hell and having to listening to a friend go one of his ill-informed rants about how the government needs to regulate and punish greedy corrupt banks,\u00a0 tax the windfall profits of oil companies and pretty much any other capitalist enterprise this morning...\u2026","rel":"","context":"In &quot;Music&quot;","block_context":{"text":"Music","link":"https:\/\/www.jasetaro.com\/blog\/category\/music\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/06\/22\/its-about-time\/","url_meta":{"origin":103,"position":3},"title":"It&#8217;s About Time&#8230;","author":"Jeff","date":"June 22, 2008","format":false,"excerpt":"Finally! We're finally starting to see some signs of life from the Bush administration and republicans in congress. Unfortunately, what we're seeing is another half measure... I'm all for increasing domestic oil production and building new refineries, but those measures won't have a significant short term impact on the price\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":498,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/26\/crash-burn-harry-reid%e2%80%99s-56-billion-stimulusoil-shale-ban-bill-augers-in\/","url_meta":{"origin":103,"position":4},"title":"Crash &#038; Burn: Harry Reid\u2019s $56 Billion Stimulus\/Oil Shale Ban Bill Augers In.","author":"Jeff","date":"September 26, 2008","format":false,"excerpt":"Reuters is reporting that Harry Reid's $56.2 Billion economic stimulus\/oil shale ban bill has failed in the Senate: WASHINGTON (Reuters) - The Senate on Friday blocked a $56.2 billion economic stimulus package that would have extended unemployment benefits, increased food aid and funded new construction projects to create jobs. The\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":474,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/25\/harry-reid-trying-to-sneak-oil-shale-ban-back-into-legislation\/","url_meta":{"origin":103,"position":5},"title":"Harry Reid Trying To Sneak Oil Shale Ban Back Into Legislation","author":"Jeff","date":"September 25, 2008","format":false,"excerpt":"Senator Jim DeMint\u2019s office reports that Senate Majority Leader Harry Reid is trying to sneak an extension of the oil shale ban into legislation under cover of the bailout frenzy. Sec 1602 continues ban on oil shale. The language follows: SEC. 1602. Notwithstanding any other provision of law, including section\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=103"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/103\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}