No shock that the R's do not want to make the oil devils mad being they are in bed with them.

 

Senate Republicans blocked a proposal Tuesday to tax the windfall profits of the largest oil companies, despite pleas by Democratic leaders to use the measure to address America's anger over $4 a gallon gasoline.

 

http://news.yahoo.com/s/ap/20080610/ap_on_go_co/congress_oil_profits:devil:

 

Why do you want to pay a windfall profit tax? Are gasoline prices not high enough without imposing another tax on oil companies that will be passed through to consumers?

 

Taxing a company never lowers the price of its products.

Who should determine what a reasonable profit is, then? The oil companies themselves?

The free market. Of course as long as Congress bars oil companies from tapping new reserves and ensures that domestic oil production will continue to decline, we will not have a free market.

The free market. Of course as long as Congress bars oil companies from tapping new reserves and ensures that domestic oil production will continue to decline, we will not have a free market.

 

The few oil companies allowed to refine oil here are governed under quite the peachy arrangement. Are five or six companies really competitive, or is it an oligopoly?

Senate Republicans block proposal to tax oil industry's profit.

 

Thank you, Republicans; since those taxes would only be passed on to me, the consumer.

 

 

 

Hey, BGPers. Why is it so hard to see that any taxes slapped onto oil will be paid by all of us?

The few oil companies allowed to refine oil here are governed under quite the peachy arrangement. Are five or six companies really competitive, or is it an oligopoly?

 

Interesting point! :thumb:

The few oil companies allowed to refine oil here are governed under quite the peachy arrangement. Are five or six companies really competitive, or is it an oligopoly?

 

In this case, would it be called an OILigopoly...?

Who should determine what a reasonable profit is, then? The oil companies themselves?

 

The market.