After a short break from record high gas prices for Californians, prices are back on the rise and will only get higher, courtesy of the Democrat Party and the Organizations of Petroleum Exporting Countries (OPEC).
The twelve countries that make up OPEC ( Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela) voted in November, to cut oil production by 1.5 million barrels of oil a day. That meeting was followed up by a December 17, 2008 meeting where OPEC decided to cut production by another 2.2 million barrels, with the stated goal of driving up prices and profits.
Similarly, as the legislative leadership of the Democratic Party in California convened in December 2008, they also voted to make the price of gasoline a bit more expensive. As part of their Democratic budget proposal the Democrats included a 39 cent tax on top of the regular price of a gallon of gas. Luckily, Governor Schwarzenegger vetoed the proposed gas tax.
Just after OPEC decided to cut the next 2.2 million barrel of oil in the new year, the Democrats are back trying to figure out how to take more of your money, at a time when our California families need it the most.
Higher gas prices hurt us all. Philip K. Verleger Jr., an expert in oil markets and a professor at the University of Calgary’s Haskayne School of Business recently noted that, “the difference between a year at $30 a barrel and a year at $70 a barrel would be $100 billion or more out of the U.S. economy.”
The fact that gas prices are not $4.55 per gallon anymore, doesn’t give Democrats a reason to raise the gas tax, nor should this nation allow itself to be at the whims of foreign countries who don’t have our best interest at heart. A long term-term energy plan remains essential.
How much is $100 billion? Here is a quick view on how much $1 billion buys:
A person can spend $1 million a year for the next 1000 years or $8 million a year for the next 125 years.
You can buy the Pittsburgh Steelers, the Seattle Seahawks or one of 15 other national football teams…and still have some cash to spare.
You can buy Youtube.
You can buy Facebook.
You can buy 12 Swedish jet fighters.
You can take the entire state of Massachusetts to Disneyland for three days.
Now Multiply the examples by 100.