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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Wyätt Gwyön who wrote (59873)4/30/2006 11:40:38 PM
From: mishedlo  Read Replies (5) of 110194
 
From Steve on the FOOL

1: there will never be a windfall profits tax as long as the government retains it's present configuration. Did you notice that in the present rush of earnings reports, almost every oil company's profit has been "below expectations"? In the face of any tax threat, big oil will simply hide it's profits.

2: government subsidy of consumption is pretty much a given. Just as the government pays people to mortgage their homes and have children, the government will pay people to use more gas than they need to.

3: I read the NHTSA's new light truck full economy standards a couple days ago. The NHTSA plainly says in the regulation that they intentionally made the fuel efficency standard for smaller vehicles more difficult to meet to discourage the production of smaller (inherently more fuel efficient) vehicles. POTUS last week asked Congress to give him sole authority to simularly "reform" passenger car fuel economy standards

The US government as presently constituted will not price control gas, it will not ration gas and the government will not nationalize the oil industry. Just the opposite. At the direction of the oil companies, the government will increase gas consumption by forcing more fuel efficent vehicles off the road and paying people to consume.

Steve
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