Yeah, more taxes will really lower prices and increase efficiency in the market. I'm doubly dubious of the idea that he can create a tax that will somehow spur oil production. Carl Levin should just propose nationalizing oil companies and get it over with.
The bottom line is, the short-term run-up in prices notwithstanding (where'd you think all the investor money fleeing the real estate crash was going to go? Commodities!), the cheap oil gravy train is just about finished and you're not going to be able to find enough evil American CEOs to excoriate in front of Congress to change that in any significant way.
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The bottom line is, the short-term run-up in prices notwithstanding (where'd you think all the investor money fleeing the real estate crash was going to go? Commodities!), the cheap oil gravy train is just about finished and you're not going to be able to find enough evil American CEOs to excoriate in front of Congress to change that in any significant way.