Bush rejects tax on oil companies' windfall profits

[Canuck_Buck]

President Bush on Friday rejected calls to tax oil companies' record profits fueled by high oil prices but said he expects those companies to re-invest those profits into alternative fuels and new energy technologies.

http://www.cnn.com/2006/POLITICS/04/28/congress.oil/index.html

I wonder if "big oil" will get tax breaks for R & D ?

[Aught Six]

The Decider makes sense.

[kevin1]

A windfall profits tax would only be passed on to the consumer anyway just like any other business expense . Arlen Specter and the other dimwits calling for the tax are stupid and doing nothing but looking for more pork to spend at our expense .

[Champlain Islander]

ORIGINAL: Aught Six

The Decider makes sense.

The decider is beside himself!

[Briman]

I'd be far more interested in seeing a reduction in record 'windfall' taxes.

[boysda]

i agree that the tax would just be passed along to the consumer in one way or another. the oil interests don't have a great track record re alternative fuels, however, and i would feel better if we could do more than encourage the oil companies to invest in alternative fuel research. you know, something like a tax credit, or holding their childrenin the basement of the whitehouse...

[Coastie]

ORIGINAL: Briman

I'd be far more interested in seeing a reduction in record 'windfall' taxes.

You've got that right.