Senate GOP Blocks Oil Windfall Profits Tax

Michael Ramirez on Congress and Oil

United States Senate Republicans today blocked an attempt by Senate Demcorats to impose a windfall profits tax on American oil companies.

But the Democrats had to try to overcome staunch Republican opposition to any new taxes on the oil industry. The five largest U.S. oil companies earned $36 billion during the first three months of the year.

Majority Leader Harry Reid, D-Nev., needed 60 votes Tuesday to proceed with the oil tax legislation in the face of a threatened GOP filibuster.

A Republican energy plan, rejected by the Senate last month, calls for opening a coastal strip of the Arctic National Wildlife Refuge in Alaska to oil development and to allow states to opt out of the national moratorium that has been in effect for a quarter century against oil and gas drilling in more than 80 percent of the country’s coastal waters.

The Democrats including Barack Obama who supports this taxation are a pathetic bunch. Why do they want to go back to Jimmy Carter days and tax big oil to increase supply and relieve gasoline prices?

Did not work then and will not work now.

Flap remembers the gas lines, the shortages and the rationing.

Earth to the Democrats: Drill for oil and build new refineries while pushing conservation and alternative energy sources.

If the Democrats had NOT blocked drilling in ANWR eight years ago when President Bush and the GOP proposed it, we wold be receiving oil today from the site.

But, the Democrats control Congress and what have they done about HIGH gasoline prices?

NOTHING but tax……..