Oil and Gas Prices - The Democrat Solution

Senate Democrats called Wednesday for a limited windfall profits tax on the largest oil companies and a rollback of $17 billion in oil industry tax breaks as part of an energy package that also would impose federal penalties on energy price gouging.
Senate Republicans strongly oppose those measures, which are widely viewed as having little chance of being enacted. Even then, they would almost certainly prompt a veto by President Bush.
The 25 percent windfall profits tax would apply only to oil companies that ``fail to invest in increased (production) capacity and renewable energy sources,'' according to a summary of the proposals released by Senate Majority Leader Harry Reid's office.
The energy proposals also seek to halt deliveries of oil into the government's Strategic Petroleum Reserve until oil prices drop to $75 a barrel.

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[conspiracy777]

That's a good point. Getting oil isn't a "free" process either.

[Mikister]

"It takes a huge amount of electricity."

True, although the the produced form of hydrogen is more efficient to use than the original form. That is why the "losses" in production are tolerated. The efficiency of bringing oil and then using it in a car is about fourteen percent. The efficiency of bringing hydrogen and then using it in a hydrogen fuel cell is forty-two percent.

[conspiracy777]

Wrong. Have you ever tried to convert hydrogen from water? It takes a huge amount of electricity. Sure it can be done with solar electricity, but you might as well just put that into a battery or capacitor. It's more efficient and less dangerous.

[pickertoo]

it costs practally nothing to make hydrogen from water and it's 3 times more powerful in the combustion stage

[meewsic]

Good job!

Check out my weekly (funny) conspiracy video blog!

[GWBushsuks]

perhaps a humbling of America is what we need, rather than over consuming & status seeking.then you know whear your prioritys lie and what really important for our life & community.