What do you Obamabots think about what the Saudi king said about oil?

Straight from the horse's mouth --- TAXES! And Wonderboy Obama wants to tax the oil companies more!





http://news.yahoo.com/s/ap/20080622/ap_o鈥?/a>What do you Obamabots think about what the Saudi king said about oil?
As soon as the dems step out of the way, we can start drilling and working on alternative energy and NOT be so dependent on foreign oil!





I think Obama will have to change his stance. We learned from history, during the Carter administration, that taxing the oil companies is a big mistake.What do you Obamabots think about what the Saudi king said about oil?
The King is probably right. There is a huge and growing demand in India and China, both the most populous countries on earth, and with millions, if not billions, of new drivers hitting the roads the demand for oil there is skyrocketing.* Couple that with the fact that the gas prices at the pump in those countries are subsidized by and set by the government, which keeps prices artificially low, the demand will only increase. Criticism leveled at China brought the response from a Chinese government official that the government could not raise gas prices because of fears such a move would result in riots and demonstrations that could topple the government.





So the Saudi king is dead on when he mentions demand in developing countries. These are markets that did not exist before to any great degree and now threaten to suck the world oil production dry.





Obama is very much off base and shallow in his thinking when he suggests windfall profits taxes on oil companies would be an answer. They won't. Oil company profits are not the problem. Any increase in taxes will simply be passed along to the consumer, so when Obama and others suggest raising these taxes it is really an additional tax on consumers, not the oil companies.





Speculation IS a problem, but speculation is a function of free markets. It can perhaps be regulated better, but this is a small part of the overall problem, which is simply excessive new demand from developing countries.





Do not forget that Obama's statements are designed only to help get him elected and do not need to convey a grain of truth. His hopes are that stupid, unthinking Americans who are ignorant of the world will buy his meaningless rhetoric at face value and view his position as the one that can somehow magically make gas prices drop dramatically. Nothing is farther from the truth.








*Recent news articles point out that due to artificially low gas prices in China, the top-selling cars there are gas-guzzling SUVs and luxury cars. Multiply all these new gas-guzzlers by a billion or so and you can see why gas prices are not going to come down much, if ever. Blame it on Chinese government policy.
BS read the article again because you have taken the Saudis word out of context on what they really said . if offshore drilling such a great idea why is old man McCain falling behind Obama by 15% the american voters want fall for mccain oil pandering party issue .there are 68 million acres of federal land that have already been least out to the oil companies that have a potential to produce 102 billion barral of oil but they have neglected to drill for this oil so ask your slef why do big oil need so much more of our fedral protected land when they could be drilling on land that have already been given to them .
The taxes on fuel in the US are very low compared to other countries, so for people in the US, the speculators are to blame.





Also note that tax on fuel is by gallon, so the percentage of tax is steadily declining as the price rises.
Did you know that the Saudi king also said that oil should cost about 45 dollars a barrel and that speculation is what pushing the price up. Or do you only pick what you like to hear?
And you care what the Saudis think? I wouldn't trust them to give me the time of say since it was their people that flew the planes on 9/11.
Man, Obamabots are more confused than an infant at a nude beach.
Well the Saudi king is right;-)