From the Right Side of Campus

Tag: oil prices

Obama Drops Windfall Profits Tax

In an act that further proves that Obama believes there is such a thing as too much success he decided to drop his famed windfall profits tax proposal. Now, right now you might be saying “But CP (College Politico), dropping a proposed tax is a good thing and encourages success”. To which I would reply “yes, awesome and intelligent reader, that is true but its not the fact that he dropped the tax proposal which proves he thinks a person or company can be too successful but, rather, its the reasoning behind it. You see, Obama has decided to drop

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It’s the end of the world! Oh wait…

No its not. Not even close. Yea the 778 point drop in the Dow is terrible, its even the biggest point drop ever according to CNN. But that sure as heck doesn’t mean we are headed for another great depression. Consider this, while the 778 point loss is the biggest point loss in history it is only about a 7% loss. Compare that to the stock market crash of 1987 where there was a 508 point drop which accounted for a massive 22.6% loss and there was no long drawn out depression which followed that incredible crash was there? But,

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Congress finally gets oil drilling right, by doing nothing.

It took forever but Congress has finally caved and will not stop new drilling for off-shore oil. Good news I’d say. But, of course, as anybody who knows anything about government can tell you, there is still a mile of red tape to get through before anybody can actually go and actually drill for oil offshore. The biggest problem is in getting congress to pass a revenue sharing bill which cuts the states in on the money that drilling will enevitably bring in. Until then its doubtfull that the states will allow any drilling… But I’m hopeful. After all this

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