Boy, if there are two words that shouldn’t be next to each other they’re “massive” & “tax”. Okay, maybe “explosive” & “Diarrhea” are worse combination.
I suppose a huge tax could drive down the price. But it seems keeping over-speculation in check serves not only to possibly lower oil prices, but regulating this activity would also maybe dampen price volatility as well.
Let’s do both: drill domestically & close the speculative loop hole. Not sure how I feel about a new gas tax. That wouldn’t be fair to the working poor. We really need to focus any new taxation on the rich instead.
