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Outrageous Oil Profits? |
With all the hatred being thrown at the (insert scary music here) Big Oil Companies, and Congressional hearings an almost certainty... the thought of attacking big profits comes to mind. Considering that Big Oil makes about 8.5% will the Congress also be investigating the following businesses and services? Demagoguery, of course. The latest proposal (among any number of Obama's, which are equally asinine) is to levy additional taxes on these "excess profits." Anyone who thinks that this will increase the oil supply, or somehow reduce prices at the pump, is completely ignorant of economics. Meanwhile, the prohibitions about drilling on millions of acres continue; the shortage is costing the US economy a billion dollars a day -- but no caribou on the ANWR need look at an oil rig. under Nixon they enacted a windfall profits tax when oil went nuts....GEE, prices went down right after that happened..................This guy is sleeping with the saudi's .so no go................ |
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