Dem's Windfall Profit Idiocy

The proposed windfall profits tax on the oil industry is very worrisome to me. First, it penalizes domestic companies while doing nothing to foreign companies. Second, it places in the hands of government the determination of what is a reasonable profit, Third, it discourages domestic oil exploration, Fourth, it doesn't address the real problems -- increasing supply and removing the Renewable Fuels Standards (ethanol mandates).

How could we as a nation have allowed such foolhardy thinking to represent our interests in the Senate and House? Not only is the Democratic leadership in Congress pushing such ill-considered action -- reminiscent of the failed economic policies of the Carter administration -- but their chosen candidate for President is supportive of those same policies. What in their proposal does anything for gasoline prices at the pump? Nothing. In fact, the likely outcome will be that prices increase further.

A New Refinery Closer to Reality

It has been 32 years since a new oil refinery was built in the U.S. We are struggling with high gasoline prices. Rural communities are dying for lack of jobs. Yet, when a company attempts to build a new refinery that utilizes Canadian tar sands instead of Middle Eastern oil, they face an uphill battle. What is wrong with this picture?