Posted by
On the Right on Thursday, May 29, 2008 10:37:22 PM
Imagine an America where the government decides what profits are
acceptable. Imagine our country with the oil industry nationalized.
Impossible? Not with Democrats in control of Washington.
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"This liberal will be all about socializing, uh, uh . . . would be
about . . . basically taking over and the government running all of
your companies," Rep. Maxine Waters told oil executives on May 22
during yet another show-trial congressional hearing.
Meanwhile, Waters' colleague from Pennsylvania's 11th district, Rep.
Paul Kanjorski, is proposing a federal "Reasonable Profits Board." Its
members would be charged with determining when oil and gas companies'
"profits are in excess."
Meanwhile, Waters' colleague from Pennsylvania's 11th district, Rep.
Paul Kanjorski, is proposing a federal "Reasonable Profits Board." Its
members would be charged with determining when oil and gas companies'
"profits are in excess."
Skeptics who want to check the data need to search no further than the
eight-year 1980s run of the energy industry windfall profit tax. During
that time, domestic oil output fell to its lowest level in two decades.
With domestic companies unable to extract more crude, the country's
dependence on foreign sources rose by 8% to 16%, according to the
Congressional Research Service.