Originally Posted by Bourne

This is classic. The Democrats, the same crew that prohibited oil exploration in the Arctic, now are proposing to levy a penalty in the form of a profit tax against large oil companies effectively penalizing one specific industry from making too much money. For being successful. Cut back on oil profits and the oil companies will just cut back on R&D and exploration expenses. The result, less domestic production and an even greater dependence on foreign sources. Pelosi, Reid and their ilk are absolutely nuts. Fortunately this bill has next to no chance of making it past a presidential veto.


The Associated Press: Senate Democrats seek to tax oil companies