High oil prices = work of Bush
1. After 9/11, Bush developed a plan to fill the Strategic Petroleum
Reserve (SPR), a 700 million bbl. store meant to sustain the U.S. in an
emergency. In 2000, only 40 million bbl. were added to the SPR. This
action alone drove up prices by adding to the demand for oil. An
independent analyst says that had Bush not acted, oil would be selling
for just $28 per bbl. instead of over $70 per bbl.
and gas would be under $1.50/gal. The government oil-buying binge has
not even increased the supply of available oil since most of the
petroleum added to the SPR was bought from private refiners, which have
not replenished their stocks because of high prices.
2. Bush's continued opposition to congressionally mandated increases in
fuel economy: Raising fuel-economy standards by just 1 mile a gallon
would cut U.S. oil consumption by 143 million barrels a year, or 16
days of imports, and save motorists $9 billion, the Environmental
Protection Agency estimates.
3. Bush's tax loophole (since tightened) allowing small business owners to deduct up to $100,000 for purchasing the heaviest, least fuel-efficient SUVs. The group "Taxpayers for Common Sense" estimates that the SUV tax loophole costs government between $840 million and $987 million for every 100,000 vehicles sold.
Anyone remember when gas was only 89¢ in 2000? It would be nice to have a president who isn't in bed with the Saudis.
<img src="http://z.about.com/d/politicalhumor/1/0/L/c/bush_abdullah_chaching.jpg">
1. After 9/11, Bush developed a plan to fill the Strategic Petroleum
Reserve (SPR), a 700 million bbl. store meant to sustain the U.S. in an
emergency. In 2000, only 40 million bbl. were added to the SPR. This
action alone drove up prices by adding to the demand for oil. An
independent analyst says that had Bush not acted, oil would be selling
for just $28 per bbl. instead of over $70 per bbl.
and gas would be under $1.50/gal. The government oil-buying binge has
not even increased the supply of available oil since most of the
petroleum added to the SPR was bought from private refiners, which have
not replenished their stocks because of high prices.
2. Bush's continued opposition to congressionally mandated increases in
fuel economy: Raising fuel-economy standards by just 1 mile a gallon
would cut U.S. oil consumption by 143 million barrels a year, or 16
days of imports, and save motorists $9 billion, the Environmental
Protection Agency estimates.
3. Bush's tax loophole (since tightened) allowing small business owners to deduct up to $100,000 for purchasing the heaviest, least fuel-efficient SUVs. The group "Taxpayers for Common Sense" estimates that the SUV tax loophole costs government between $840 million and $987 million for every 100,000 vehicles sold.
Anyone remember when gas was only 89¢ in 2000? It would be nice to have a president who isn't in bed with the Saudis.
<img src="http://z.about.com/d/politicalhumor/1/0/L/c/bush_abdullah_chaching.jpg">