All That Foreign Oil Controlling American Soil

Is nothing sacred.

I'm speaking of the Chrysler Building.

Yeah, ole Bob pretty much had it right 30 years ago:

All that foreign oil controlling American soil,
Look around you, it's just bound to make you embarrassed.
Sheiks walkin' around like kings, wearing fancy jewels and nose rings,
Deciding America's future from Amsterdam and to Paris
And there's a slow, slow train comin' up around the bend.

But then, our own oil companies aren't doing too badly either. I'm not one to beat up on "big oil" as if they hold the key to evil in the universe, and I am no expert in things financial (to say the least), but it seems to me that the Republicans have screwed themselves by killing the recent "tax big oil" bill. There was more to that bill than a luxury profit tax I realize.

So, if supply/demand is part of the reason for higher oil prices, you'd think the oil suppliers would be getting most of the windfall. Are these companies the supplies? What is their relation to, say, the Saudi government? If it's speculators, well I don't understand who would get that windfall. Maybe somebody could explain that for me. Where do the oil companies make their money?

The only problem I can see having with the tax that was defeated is if the revenue just went into the general fund to be spent on whatever. Was it going to 1) used to fund alternative energy research, or 2) used to relieve consumers of higher gas prices? Maybe someone could tell me, or show me where I could find out.

But with the war in Iraq going "better" (relatively speaking) these days, and with the economy, though sluggish, refusing to go into recession, oil prices may end up being the biggest issue of the campaign. It impacts everybody, and everybody hard. I filled up my Spectra the other day with regular - $50! It's killing me! Our 15 year old Nissan van holds 16 gallons. Do the math.

So this is an issue that is hitting everyone hard, and as far as I can see it, the Republicans just handed a V to the Democrats. We may as well just call it now and spare ourselves five MORE months of this seemingly endless process.