So Congress is looking into if the oil companies are "gouging" us, to use the industry term, on the gas we pay which is close to $3.00 a gallon now. If such a practice is happening, they'll punish them in the way of fines. Where do you think those fines will go? Back to us in the form or a rebate? Will we all get a refund on the supposed extra money we've been filling our gas tank with?
The money will go to government programs. They'll use the fines for their own programs that are normally funded with taxes, taxes we'll stay pay (since there's no refund coming).
What this means is, Congress just taxed us by way of the oil companies. We might think it's some form of justice to penalize the oil companies for having high prices, but what do we really get out it? Maybe higher gas prices so the oil companies can pay the fines.
What's funny about all this is the government subsidizes the oil companies. They use our tax dollars to reward the oil companies for keeping their prices low. Have you ever seen the price of gas (petrol) in Europe? It's usually $5 or more. Has been for many years because their governments don't subsideze the price to keep it low to keep everyone using gas and not develop many alternatives.
Does anyone find this even a little bit bizarre as to what is actually happening here? We are taxed to keep gas prices low. So they take our money so that they can't take our money. When the gas prices get too high, the money we funnel into the oil companies goes back to the government in the way of fines which is just going to go back to the oil companies to keep gas cheap. It's a loop only we're not in it. We're funding it.
Is this the way to do business?
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