True to form the GOP blocked a measure that would have supplied a measure of relief to American’s at the pump. They blocked an effort by Senate Democrats to tax windfall profits of oil companies. Windfall profits would be a way to punish the speculators, but you can’t do that to the Grand Oil Party. America is on the verge of an economic collapse and the robber barons are not about to let up. The Grand Oil Party plan is to drill in ANWR and along the coast. Ripping off your customers must be a family value.
WASHINGTON — 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.
The Democratic energy package would have imposed a tax on any “unreasonable” profits of the five largest U.S. oil companies and given the federal government more power to address oil market speculation that the bill’s supporters argue has added to the crude oil price surge.–Read more at Huffington Post.