Legislators want windfall tax for oil companies

[struggle4progress]

... Senator Carl Levin, Democrat of Michigan, said he believes gas prices ''would come down within a matter of days" if President Bush told oil companies he was going to support a windfall profits tax.

''But the president will not call the oil companies into his office because he's been too closely allied with those oil companies, and if he does it's going to be a window-dressing conversation," said Levin, who appeared with Specter on CNN's ''Late Edition."

Senator Edward M. Kennedy, Democrat of Massachusetts, said on NBC's ''Meet the Press" yesterday that he also favored imposing a windfall profits tax and returning the money to working families.

''This is not a time for greed, and that is what we have on this. And the administration . . . has failed to take action," he said ...

http://www.boston.com/news/nation/articles/2006/04/24/legislators_want_windfall_tax_for_oil_companies/

[Ecumenist]

1. Exactly and I want this to happen YESTERDAY...

[Kagemusha]

2. Excuse me?

If Bush was going to tax their profits, tell me why the oil companies would LOWER prices?

[struggle4progress]

3. Bush isn't about to threaten the oil companies this way. But if he DID ..

.. they would react to the politics behind threat and take actrion to forestall legislation ...