The Return Of Jimmy
Democrats criticize oil industry subsidies (Julie Vorman, Reuters)
Long an ally of the energy industry, senior Republican lawmakers reversed direction during the past week and began calling for possible new controls on oil companies.
Their change in views came the same week that Exxon Mobil reported a $9.9 billion quarterly profit and other major oil companies also saw big increases.
The head of the Senate Budget Committee, Republican Judd Gregg said he look at some kind of windfall profit tax on the oil industry.
Senate Majority Leader Bill Frist ordered a November 8 hearing for top executives of major oil companies to explain why prices are so high. Frist also said he might endorse a bill banning oil price profiteering -- an approach favored by Democrats -- if evidence of wrongdoing was found.
U.S. President George W. Bush has said he opposed any new tax on the oil industry.
It's always nice when Republican Senators start to sound like Jimmy Carter.
This should help some folks figure out why the industry might be engaging in PR efforts to downplay its profits.
And on a writing note -- how in the world are "Republican lawmakers" an "ally of the energy industry?" Is it too much to ask professional writers to understand the difference between singular and plural nouns? Lawmakers might be allies, but they are not "an ally."
Posted by Kevin Whited @ 11/01/05 09:35 | American Politics | Technorati
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Comments
Maybe we should suggest to Judd Gregg a tax on the "windfall" of an $850,000 Powerball win as an alternative.
Posted by Tom Hanna @ 06:48 on 11/02/05
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