So, we'll all pay even MORE, since much of the tax will be passed on to consumers.

The politicians say it's necessary, in order to shift money over to cleanup and to compensate parties who have been damaged by oil spills.

Wouldn't a much better paradigm be to have a set of well-established and defined property rights in the region, and allow interested parties to sue for damages in private arbitration, rather than pull EVERYONE into this mess?

Oh, sorry, that free market idea was never tried, and so now we're stuck with a legal mess, filled with government favors handed out in the form of limited liability for BP, a thirst to change that among contemporary politicians, fishing industries that will be hurt, but will get some arbitrary amount of money from the government, rather than from settlements in court for the damages caused them, and an ever-increasing burden on the supply of oil in the gulf of Mexico.

It's a good thing the Arab nations, Russia, and Canada have stepped up oil production, otherwise, the price would be headed for $5.00 a gallon by August.

Take a look at the story:

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article71245...

Be Seeing You!