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Editorial: Myths, Misinformation and Propaganda
December 16th, 2008

Editorial: Editorial: Will Park Closure Just Make Things Worse?
November 29th, 2008

Editorial: Editorial: October and November Surprises
October 30th, 2008

Editorial: Is the Sky Falling?
September 24th, 2008

Editorial: Editorial: Who Reads Cedar Key News?
September 19th, 2008

Editorial: The First Hurdle for Every Child
September 3rd, 2008

Editorial: A View of China from Cedar Key
August 18th, 2008

Editorial: Who Killed the Real Estate Market?
August 8th, 2008

Editorial: Editorial: It`s Clamerica!
July 1st, 2008

Editorial: Can the City Commission Limit Noise?
June 6th, 2008

Editorial: Unintended Results Rock the Boat
May 29th, 2008

Editorial: Creeping Gas Prices
May 13th, 2008

Editorial: Cedar Key Election Soon
April 30th, 2008

Editorial: Questions fo the Candidates
April 2nd, 2008

Editorial: Coming Elections: National County and City
March 19th, 2008

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Creeping Gas Prices

Creeping Gas Prices

Editorial

A couple of months ago there was concern that oil would cost $100 a barrel and gasoline would go for $4.00 a gallon. May 2008—With oil about $125 a barrel ($133 on May 21), and projections of $150 to $200 a barrel, gasoline is expected to go to $4.50 per gallon. Chevron stock has gone from $36 to $96 a share since May 2003 (Editor`s Note: Over $100 a share since this was written ten days ago). The other major oil companies also have done very well.

Opinions differ as to why the U.S. invaded Iraq, but no one can deny the war's effect on oil prices or that the soaring profits of the major oil companies stem from disruption of oil supplies. Furthermore, at a cost of about $100 billion a year for the war in Iraq, the U.S. Treasury suffers while the oil companies thrive.

May we suggest a new type of economics? Forget the "voodoo economics" of former President George H. W. Bush. Let's have "quid pro quo economics." The actions of the U.S. have helped the oil companies with windfall profits. Now it's time for the oil companies to do something for the U.S., particularly the U.S. Treasury. Times of war call for special measures. So long as we are at war in the center of world oil production, oil profits should pay for the war, with the oil companies transferring their profits from consumers to the U.S. Treasury.

The impact the war on the Treasury is immediate and extending into the future. Borrowing is not the answer. Finding more revenue is.

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