janradder

What the hell were those pinko tree-huggers thinking anyway?

Republicans block extra taxes on oil companies

Just a few excerpts:

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. . .

The windfall profits bill would have imposed a 25 percent tax on profits over what would be determined "reasonable" when compared to profits several years ago. The oil companies could have avoided the tax if they invested the money in alternative energy projects or refinery expansion. It also would have rescinded oil company tax breaks — worth $17 billion over the next 10 years — with the revenue to be used for tax incentives to producers of wind, solar and other alternative energy sources as well as for energy conservation. . .

Separately, Democrats also failed to get Republican support for a proposal to extend tax breaks for wind, solar and other alternative energy development, and for the promotion of energy efficiency and conservation. The tax breaks have either expired or are scheduled to end this year.

Way to go, GOP! Way to stick it to the people! You show them who's the boss a these here parts. I mean, c'mon, trying to take away tax breaks from the needy rich and encourage alternative fuel sources? What country do they think this is -- Denmark?

Big Oil -- I'm Lovin' It!