Here's a Thought

Prez Obama has placed a 6 month moratorium on ALL oil drilling. 6 months unemployment.

Prez Obama has forced BP to fork over an "escrow" of $20,000,000,000.00 to help compensate the damaged people of the Gulf and a further $100,000,000.00 for the now unemployed oil workers.

May I ask a question?

{ahem} when California, (in an effort to both lower personal consumption and raise revenue), raised taxes on oil at the pump, drivers responded by driving less and in turn buying less. So the smart guys got what they wanted and then not!

Fewer gallons purchased, even WITH a tax hike led to less tax revenue. The same thing has happened as a result of adding a fee for plastic bags at the grocers. Fine! You want to be a polluter! BUY the bag. Well, People are saving the planet with the recyclable bags in place of the plastic ones and now the fees are not being collected at the rate the smart guys were expecting.

So all of those unintended consequences pop up.

Which brings me to the question...... If the oil industry is put on hold for 6 months and the trickle down effect (shipping/ oil rig support, longshoremen, commissary) will follow: think, think think of all the income tax AND SALES TAX revenue that's going to be lost as a consequence!


WHERE DO YOU THINK THE GOVERNMENT IS GOING TO MAKE UP FOR THE LOST MONEY?

Government NEVER does with less. GOVERNMENT NEVER NEVER tightens its belt.