ShawneeDispatch.com

The high cost of energy has increased the cost of most things in the USA, and the price of oil is largely the cause.

Forbes’ report on “U.S. corporations with the largest revenues in 2006” showed ExxonMobil, which merged in 1999, Chevron, which bought Texaco in 2001, and ConocoPhillips, which merged in 2002, were all in the top five in revenues. Valero was No. 16. BP (British Petroleum, which merged with Amoco in 1998 and ARCO in 2000 and delivers oil to Valdez, Alaska) being foreign-owned, is not listed. These revenues were in 2006, with oil lower than now.

Oil is now a global commodity, traded on world markets. It follows the money and is subject to speculation. Oil owned by private companies and loaded at Valdez does not necessarily mean it will go for refinement and use in the Lower 48.

Alaska Gov. Sarah Palin, seeing the rising price of oil, pushed through her Republican legislature a “windfall profit tax,” which Alaskans call a “clear and equitable share tax” in which all its citizens share. So if that oil goes to the Lower 48 for refinement, it already has an excess profits tax, which John McCain is resolutely against. The Republicans want no more taxes, but with the administration incurring the biggest national debt ever and the current taxpayer responsibility in “bailing out” big financial services firms, we can’t call on the tooth fairy.

We have almost exhausted the oil production in once-rich Kansas, and now other states want to deplete it elsewhere in the USA. “Tough luck” future generations. We want your oil reserves NOW.

The Bible tells us to be good stewards of the land and its bounties. Are we?

Don Kellogg

Shawnee