Any reason fools like Spector are voted into office?
Posted on 04/23/2006 1:00:08 PM PDT by Crackingham
The government should consider a tax on oil companies if they make excessive profits amid rising gasoline prices, a leading Republican senator said Sunday. Pennsylvania Sen. Arlen Specter, chairman of the Senate Judiciary Committee, said a windfall profits tax, along with measures to stem concentration of market power among a few select oil companies, could offer eventual relief to consumers hurting at the gas pump.
"I believe that we have allowed too many companies to get together to reduce competition," Specter said.
"They get together, reduce the supply of oil, and that drives up prices," he said. "In the short run, it's hard to deal with it for tomorrow. But I think windfall profits, eliminating the antitrust exemption, considering the excessive concentration of power are all items we ought to be addressing."
Specter is backing legislation that would strengthen antitrust laws on oil company mergers after his committee held a hearing last month examining the growing consolidation of the oil industry. The nation's largest oil companies, including Exxon Mobil Corp., have denied their industry size has affected prices.
Last week, crude-oil prices hit record highs and average gasoline prices nationwide neared $3 a gallon.
Sen. Carl Levin, D-Mich., said he believes gas prices "would come down within a matter of days" if President Bush told oil companies that he was going to support a windfall profits tax.
(Excerpt) Read more at msnbc.msn.com ...
The WPT worked so well last time...
I think you should consider shutting the he!! up, Spectroid. We don't need no more stinkin' taxes!
5% profit is excessive?????????
Any reason fools like Spector are voted into office?
(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")
But, that is about all our gov't representatives ever think of, which is not their job in the first place. They are supposed to be enabling commerce, which is the reason the Constitution of 1787 was created.
No only STHU but lower the fed taxes on gas dumb head! And then reduce the blends the EPA demands. Could Bush issue an executive order to halt the EPA regs on summer blends?
How did Specter vote on drilling in ANWR?
I expect there will be plenty of idiots willing to support it, even here....
Perhaps the WPT could apply to politicans salary which is all a windfall in my opinion. Hey Specter...which one of my pockets is EXXON going to collect those taxes from? What a moron!!!
Is there any other period when this country has had two parties that are so stupid and out of touch?
The best government is essentially a evil thing.
The man's a moron.
(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")
Why George Bush stumped for this guy is beyond comprehension.
Yes, it would raise the price. The cost would trickle down to us.
Maybe the Senate should pass a useful energy program. Drill ANWR, start building nuclear power plants again, start building more refineries, distributed in more locations, reduce regulatory rules that make it hard to build power plants, upgrade the electric power grids.
Much of this can be done simply by changing the regulatory climate, making it once more profitable for businesses to operate in these areas.
But you know damned well what they'll do, instead. Spend six months investigating Exxon because they gave their retiring chief too much money.
Specter, coming up with the stupid ideas that most Americans won't think.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.