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Editorial: Endangered Species -- May We Ask Why?
May 2nd, 2007

Editorial: Editorial: a Free Press
April 21st, 2007

Editorial: Airboat Noise
April 7th, 2007

Editorial: Another Delay in Dock Repair
March 5th, 2007

Editorial: Are Some Technological Wonders Economically Impractical?
February 27th, 2007

Editorial: Editorial: Weakest Tax Link Examined
December 22nd, 2006

Editorial: A New Year`s Resolution -- For the Levy County Commission
December 10th, 2006

Editorial: Political Tides
November 17th, 2006

Editorial: Blue Pencil Needed on Levy County Budget
October 30th, 2006

Editorial: Fiscal Incompetence?
October 2nd, 2006

Editorial: Paddlers May Get Hit in Pocket
September 18th, 2006

Editorial: Time for Another Cedar Key Tea Party?
August 30th, 2006

Editorial: Automotive Turning Point
August 11th, 2006

Editorial: Are There Limits to Southern Hospitality?
July 24th, 2006

Editorial: Armadillos and Anthros
July 9th, 2006

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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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