It can actually be simpler...
First, get the government entirely out of it, including silly regulations on automobiles. I wonder how many vehicles which do not burn gas, will be produced without excessive govt regulations.
Second, the oil companies speak of futures, which is a fine red herring. They are charging today's gas prices on gas they produced yesterday, based on what might happen tomorrow. The gas at your gas station, in the big tanks underground, was not bought the very second they raise or lower the price. It was purchased last, for example, Wednesday, at probably $1 under what they charge you. However, since tomorrow's prices will be higher, and they wouldn't risk their money, they raise the price today. Of course, since tomorrow the price may not rise, it stays the same, and they make more money.
Third, the last rush of gas price increase, although I don't follow it religiously, seems to have happend after Katrina, when
the TWO oil pumps were destroyed. As though that really affected oil production in for US oil and gas.
Futures are tricky. But I figure the price they paid is close what should be put up on the board, of course, adding their profits. But if at 3 pm tomorrow, a tornado wipes out one oil drill in texas, don't raise the gas prices all over Wisconsin 25 cents to compensate. This actually is more ethical, and closer to what grocery stores and lumber yards do (since they also sell products affect by the commodities market).
I was a bit upset at record oil profits, and this is the result of rising prices due to wars and hurricanes, yet profits are made. However, I don't see the government enforcing a larger tax is going to help though.
Also, keep in mind, that a year ago, the tax you paid on gas was 48.5 cents per gallon. I would guess it's increased slightly since. Oh how the horse and buggy days look better and better. Or maybe just getting a moped would do the trick.
Congress has many inefficient programs running; Social security (an essentially broke program, paying people more than they put in, at the expense of people working now), War on Drugs (you want to talk about who pays less taxes, a billion dollar a year industry goes untaxed year after year, yet costs you and I millions a year), etc. Let's not add gasoline randomly taxed or govern-mentally (
) disributed petrol products to the long list.
Congress and the Senate were purchased long ago, as were people's votes with their own tax dollars. I wouldn't consider todays govt as a newly purchased branch of authority.
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