Bush RejectsTax on Oil Windfal Profits

[riona]

And look who is going to help solve the oil problem


By TERENCE HUNT, AP White House Correspondent 38 minutes ago

WASHINGTON -
"President Bush on Friday rejected calls by some lawmakers for a tax on oil company windfall profits, saying the industry should reinvest its recent gains into finding and producing more energy.


"The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. "The answer is for there to be strong reinvestment to make this country more secure from an energy perspective."

With gasoline at over $3 a gallon in some areas, Bush said there was "no evidence" of price-gouging of consumers."

[ThomCat]

1. Of course he does.

He's a $%#&@! oil man himself. He's not going to do anything to cut into their record profits.

If anybody is fooled by this bushit then they're morans!

[Selatius]

2. There's enough profit to give every college student a Pell Grant.

No, it has to go to the shareholders of the big oil companies instead.

[SharonAnn]

3. Well now, that's a surprise! (not!) He'd rather increase our debt by

cutting taxes. That way we can reduce the already insufficient investment in our transportation infrastructure and/or add to the "birth tax", which is the share of the national debt per child born in the USA.

So, instead of taking from the oil companies:
- which are being directly subsidized by us,
- who are also taking oil from our federal lands for way below market prices (stealing our oil without paying for it)
- have significantly reduce their federal income taxes so that we are paying more.
- and he wants to reduce environmental regulation (stealing the very air we breathe and saddling us with disease, death, and property value depreciation).

He wants to steal more from us. Cutting the federal tax, reduces the services available to us. It does nothing to the oil companies except let them maintain their monopolies and charge ever higher prices for oil and reap ever more benefits.

[Not Me]

4. Now, will the Dems exploit this?????????

What a corner we could paint this bastard into by hammering home the fact that he is letting them get away with this shit.

[BlueEyedSon]

5. how can the profit margins NOT be high if the total profit is humongous?

its not like they are selling something ELSE on the side!!!

[riona]

6. Here's more of the article

So, what he says in the first paragraph is going to accomplish our "need to get off oil"?

Bush said energy companies should use their increased cash flows to build more natural gas pipelines, expand refineries, explore "in environmentally friendly ways," and invest in renewable sources of energy.

"That's what the American people expect. They also expect to be treated fairly at the pump," he said. "These oil prices are a wake-up call. We're dependent on oil. We need to get off oil."

[Skittles]

7. no bush, you stupid republican bastard

the wake-up call was in 1973

[driver8]

8. Why are you all getting so upset?? Our president has said that

"The answer is for there to be strong reinvestment to make this country more secure from an energy perspective."

What makes you all think that this isn't going to happen??