May 28, 2010
Think things are out of hand yet ? Kenny S wrote, "the media went on the Memorial Day holiday about a half-hour ago. About ten minutes later, 'guess who' passed a tax increase on the per-barrel rate for oil - from 8 cents to 34 cents.
The House vote was 215 to 204.
Everything is about to go up in cost..... EVERYTHING.
Your income, if you're lucky enough to still be employed or still in business, stays the same (actually decreases due to the additional expenses for everything is about to go up in cost."
They are robbing us blind. And Obama is blaming ...............Bush for the spill. Got that?
US oil tax quadrupled to pay for spills
May 29, 2010
The US House of Representatives has voted to more than quadruple a per-barrel oil tax that fills a special trust fund to pay for damages from major spills such as the Gulf of Mexico disaster.
The measure called for raising the eight-cent-per-barrel tax to 34 cents, raising nearly $US 12 billion ($14.1 billion) dollars over 10 years for the Oil Spill Liability Trust Fund, which currently holds about $US 1.5 billion.
The legislation, which passed by a 215-204 margin, also aimed to raise the cap on per-incident trust fund expenditures from $US 1 billion to $US 5 billion.
Some analysts have warned that the price tag for the catastrophic oil spill that resulted from the explosion aboard the Deepwater Horizon offshore drilling platform run by BP could top $US 14 billion.
BP is legally responsible for all cleanup costs, but is only liable for up to $US 75 million in economic damages - a cap that vanishes if the British energy giant is found to have been negligent or engaged in wilful misconduct.
To the extent that costs above that are not covered by BP - which has vowed to pay all ‘‘legitimate’’ claims - up to $US 1 billion of the additional damages could come about of the trust fund.
The legislation approved on Friday would raise that ceiling to $US 5 billion.
The Senate was expected to pass a different version of the bill when it returns from next week’s break, meaning the two chambers would have to agree on a compromise version to send to President Barack Obama.
The House-passed measure’s main goal was to extend a series of provisions aimed at battling stubbornly high US unemployment and extend jobless benefits to late November.
Where is all the money they have already sucked out of the guts of this great nation? Where the hell is all our dough?