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FOX hosts favor McCain gas tax moratorium over Clinton windfall profit tax

Reported by Chrish - April 29, 2008 -

Shocking, I know. Alisyn Camerota and Brian Kilmeade, hosting FOX and Friends First this morning 4/29/08, discussed skyrocketing oil and gasoline prices and what can (or should) be done about them. They mocked Congressional hearings, disparaged the idea of taxing the oil companies further, and supported the (deficit-deepening) proposal to eliminate federal taxes for the summer.

They cited these statisitics: a barrel of oil has increased from $50 a year ago to $120 today, which translates into a 66-cents/gallon rise in gas prices over the same period. Kilmeade explained why this is happening: there's a "mini-strike" at Exxon in Nigeria, China and India are buying record amounts of oil and gas(oline), output in Russia is slowing "where they're saying 'we've pretty much maxed out,'" and Saudi Arabia is "maxed out a little bit," though he says they're going to increase production some but not enough. Additionally, refineries have switched from "winter gas" to "summer gas," which causes a temporary drop as refineries retool. The New York Sun ("using experts") says gas could be as much as $10/gallon in the next two years.

So what are our lawmakers doing, asked Camerota - how are our public servants helping us? (For conservatives who claim to abhor the nanny state, they sure expect miracles when the unregulated corporate profiteers "free market" fails us like this.) The "Senate Energy Committee is on top of it, they have sprung into action: they're having discussions about a bill proposal." This news was delivered not factually but sarcastically and snidely.

Kilmeade finds the suggestion by Hillary Clinton that perhaps a windfall profit tax should be applied to oil companies "anti-American" and cries "since when do you gotta get taxed for making a lot of money?" (Hint: not since 2001, at least.) Surely his indignation would be further reinforced if he knew that Hugo Chavez has done just that, with a defense presented at Huffington Post. Author Raymond Learsy writes

"...we are dealing with a commodity that has left all ballast of free market determination far behind. The results are profits for oil companies that are so egregious that they surpass all definition of "windfall profits." If monopoly collusion is viewed by our laws as illegal, then the monopoly/cartel induced oil prices we are currently experiencing and paying for at the pump are in effect crooked profits and it is time our government acts to redress this injustice visited on all of us, and finally begins to level the playing field

Kilmeade and Camerota prefer John McCain's proposal to remove federal excise taxes from gasoline for the summer, which amounts to 18.4 cents/gallon - "we'll take it," said Camerota. Where that lost revenue for infrastructure will come from, well, nobody's sayin'.

Kilmeade added that we should stop driving so much (echoes of O'Reilly's call to cut gas use by 10% - walk those last few miles or call insick every other Friday. Heeyy.....) and of course, drill in ANWR. But, "we're just afraid of hurting the deer," said the ignoramus, "and the oxen."

It's terrifying that people watch this and think they're getting news.