Please scroll down for today's crony capitalist commentary Today, our Aussie Oil & Gas energy analyst friend observes that, "Overnight Repsol announced an onshore discovery of 1.3 B bbls - the largest in the US for 30 years.  This follows on from similar sized discoveries in the State last year in the immediate offshore.  Unfortunately prices will likely need to solidly hold above US$50 before these will be developed in this high cost (and high tax) location."   We refer readers to the view of some that taxes do not [...]