What happens when the price goes back up? Will they do away with the tax? I don't think so.Obama just proposed a $10 a barrel tax on oil slamming the poor and middle class with a tax increase. That tells you everything you need to know about lowlife filth liberals, they can't allow the poor and middle class to save money on gas so whack them with a huge tax increase. With evil bastards like liberals for friends who needs enemies.
That is due to the crashing prices of oil and the threat that has on our oil companies that has invested and utilizing fracking.
Considering how much oil has fallen, a $10 tax per barrel is probably not even noticed by the middle class or poor.
However, it should help stablize earnings by American oil companies in the face of foreign competition.
Remember, last year at this time, crude traded at over $100 dollars per barrel, now it trades below $40, and you think a $10 tax on a barrel now is going to make there lives harder after that fall.
They haven't noticed the tax and are enjoying fuel that is at its cheapest in 5 years!
That depends on what the American oil companies want.
In any case, the consumer probably won't notice the difference between 110 a barrel versus 120 a barrel since its all so nose bleeding high!
Did you notice the $10 fluctuations over the past 5 years? Most likely not.