Republican Party Cries Foul For Oil Industry Treatment - Don't Hurt Those Good People!

[Divine Discontent]

--- The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.

The money collected over 10 years would provide tax breaks for wind, solar and other alternative energy sources and for energy conservation. The legislation, approved 236-182, would cost the five largest oil companies an average of $1.8 billion a year over that period, according an analysis by the House Ways and Means Committee. Those companies earned $123 BILLION just last year.

Republicans said the measure unfairly targeted a single industry.

"It punishes the oil and gas industry. This is wrongheaded. It will result in higher prices at the gasoline pump. It's spiteful and wrong," said Rep. Jim McCrery, R-La.

The top Republican on the Ways and Means Committee, which developed the tax proposals, cited statistics that show that oil companies already pay more taxes than many other industries. ---

and doggone it, the GOP is just devastated that us mean Americans would try and get these barely functioning Oil Corporations to give what they clearly don't have! :sarcasm:

I wonder if they'll bring out the big weepers of the GOP to cry foul on behalf Exxon-Mobil and others...

[Hand]

1. Wondered how long it would take them.

Geez, a good half a day. What's wrong over there? :grr:

[Divine Discontent]

3. they're falling apart...

really, I cannot believe that 45% are saying in polls they'll vote for McPain... honestly. The GOP is in such disarray and cannot be trusted after the malfeasance of the current mis-administration.

[musette_sf]

2. taxes are for the "little people" like us

Exxon Mobil earned more than $1, 287 of profit for every second of 2007.

Chevron earned a record profit of $18.6 billion in 2007.

:nopity:

[Divine Discontent]

4. GOOD GRIEF!

I didn't know about Chevron clearing that much profit... I knew about Exxon-Mobil, but it shows even the smaller ones surely cleared billions in profit.

that's sickening... just unacceptable. It's a necessity product, and they've been permitted to gorge the American people. $18.6 billion is staggering.

[Historic NY]

5. I'd wish they closed the ENRON LOOPHOLE ..........

S. 2058: Close the Enron Loophole Act
A bill to amend the Commodity Exchange Act to close the Enron loophole, prevent price manipulation and excessive speculation in the trading of energy commodities, and for other purposes.

http://www.govtrack.us/congress/bill.xpd?bill=s110-2058