Tuesday, April 1, 2008
Poor Oil Companies
Congress is preparing to question oil executives from the five largest publicly traded companies as to why they need 18 billion dollars in tax cuts over the next ten years. This comes as a huge suprise under the backdrop of record gas prices and record profits. Congress is considering taking away the tax breaks and putting the money towards alternative energy research, which I think is a great idea. Hopefully, congress' questions will shed light on why exactly we are facing such astronomical gas prices and if there is any possibility of the prices going down in the near future. What should we do? Should we allow these companies to recieve huge tax cuts, or should we demand a greater effort be put into alternative energy research? In my opinion, the environment is the most important issue, and we should therefore force them to either invest more money into alternative energy research or we should deny them the tax cuts. What do you think?
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4 comments:
The best option in the long run is to invest in researching for a good alternative energy source. If we just gave the oil companies tax breaks, then they get off the hook, and maybe prices will drop a bit but thats only a short term solution. Eventually, oil prices are going to rise again because its a scarce resource. Tax cuts aren't going to do much when that time comes because there isn't enough oil left to let those cuts have an effect on the price. So really, the only reasonable decision is to research for possible alternative resources now instead of waiting until the resource situation becomes extremely dire. That would be the smart thing to do.
Yeah, I agree with Will.
Solar power!
Wind power!
http://www.alternative-energy-news.info/
So many other options, which are eco-friendly.
I agree with researching alternative energy and all.
Also, it's ridiculous how the government can sell out tax breaks to companies.
I think new energy is great, but I will say that it is very unlikely that oil will no longer be in use in the next couple of years. So in short, I would love cheaper gas and more of our money going toward alternative energy sources, but I would also not like a complete collapse on our companies and resources that require oil. So I say we pay cheaper prices and they make just a little bit less profits to use to do more oil exploration and the gov. goes and gets us some alternatives energy sources.
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