BIG OIL AND THE REPUBLICANS THAT LOVE THEM

Check out the Yahoo! article today about the Republicans in the Senate blocking legislation to impose a windfall profit tax on the oil industry. This windfall tax imposes a tax when the industry acquires suspiciously high profits for the market price of its product.

The oil industry reported a record setting $40 billion in profits this last year despite the skyrocketting prices at the gas pump and the insistence that it was coming from the price and availability of crude. The prices per barrel aren't going up in comparison to some shrinking demand, however, they're going up in comparison to the weakening US dollar.

Republicans argue that it would cause the lessening of domestic production and an increase in imports. We already import more than 2/3rds of our oil, what's the difference? They also blocked the passage of further tax breaks on alternative energy industries. Why? Because someone called them up and told them to hold on a little longer until they buy their next house in Spain before they impose an extra tax.

My proposal is this: We sued the tobacco industry for the long-term effects of their cigarettes, it's time to sue the major oil companies so that we can all benefit from a lowered fuel price. We are slowly being crippled by some of the most flagrant corporate manipulation of the market and control of the government, so much so that now that we are finally aware of how bad it's getting, it is already too late for millions to lose their jobs and homes, for our food costs to get too high to be able to eat, and for our "great nation" to be crushed under the stupidity of leaders owned by a corrupt industry.

The article is at:
http://http://news.yahoo.com/s/ap/20080610/ap_on_go_co/congress_oil_profits