The Mormons should be looking to excommunicate Harry Reid if not based only in his reprehensible grip on economic basics. If not his til-the-death hold on the concept of raising taxes to lower oil prices.
WASHINGTON — With gasoline prices topping $4 a gallon, Senate Democrats want the government to grab some of the billions of dollars in profits being taken in by the major oil companies.And,
Senators were to vote Tuesday on whether to consider a windfall profits tax against the five largest U.S. oil companies and rescind $17 billion in tax breaks the companies expect to enjoy over the next decade.
So instead of uncuffing the hands of the ones who can actually find more oil over here, produce it and alleviate our beholdence to the most unstable human contingent in history, the senate will vote on whether to shackle, taze and pepper spray the only ones who know how to do it.
The Democrats' energy package also would:
— Make oil and gas price gouging a federal crime, with stiff penalties of up to $5 million during a presidentially declared energy emergency.
— Authorize the Justice Department to bring charges of price fixing against countries that belong to the OPEC oil cartel.
— Require traders to put up more collateral in the energy futures markets to curb speculation.
As much as I'm going to hate $15.00 - a gallon gas, I will at least have the vicarious enjoyment of watching these people ultimately tell the eternally-unvetted environmental lobbies to go pound sand when they reverse themselves on exploration and drilling. Of course, I may have to watch this happen in Arabic, or Chinese, but even The Dixie Chicks are going to have a supply-and demand epiphany when their already-underused tour bus has to cool it's heels in Houston.