Even Democratic Party Senator Jim Webb understands what would happen to the gas prices we would face if they were to eliminate the government "subsidies" to the oil companies. There has been much talk about the profits that the oil companies have been getting but little follow up with the facts showing that the oil companies have one of the lowest profit margins when compared to other industries as well as the incredible amount of taxes already paid. Many tend to point to the profits made by the oil companies but yet avoid mentioning the Billions paid to federal and state governments at the same time...
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Unfortunately our President has decided to make this a campaign issue and practicing the art of only mentioning select data and avoiding the truth were needed to maintain the agenda. Fortunately Senator Webb saw that by eliminating "subsidies" for companies seeking out additional sources of energy would only raise the retail price of the product at the pump...
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Now if we could only get Virginia's other Senator, Mark Warner (D), to understand that Virginia needs to develop and provide the large resources of energy we have offshore...
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Additional info over at RollCall...
“Is this the best we have to offer folks who are staring at $4-a-gallon gasoline?” McConnell asked before the vote. “A bill that even Democrats admit won’t do anything to lower the price of gas? And a process that blocks any other idea from even coming to the floor for a vote?
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