Friday, May 02, 2008

Who Will Get a Break at the Pumps on a Gas Holiday?

Bloomberg via TPM:

the oil companies may end up the biggest beneficiaries, while the aid to families wouldn't be enough to buy a $35 backpack.

The trouble with the plan ... is that oil prices are rising because of low supplies, and companies will continue to charge the average $3.60 a gallon and just pocket the money that would have gone to federal taxes.

I'd like to see those who criticize the necessary costs of educating a child relative to the market value of a barrel of oil try to defend the fat oil cats on that score. I'm sure that they have some excuse: like maybe the fatso refining industry execs need the extra money to send their kids to better schools.

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