Filibuster Threats Stops Energy Votes...Again

The Writing Corner by Beth Wellington | Jun. 12, 2008 (Opinion)

What's causing the "pain at the pumps?" Like me, you may have read the oil companies and the Bush Administration's arguments that demand from China and India is responsible. You may have read analysts who suggest that tax abatement on carbon fuel v.s renewables has stymied the latter's competitiveness. On June 6, the Washington Post's David Cho brought up another possibility( DISCLOSURE: Author is member of NewsTrust's staff) Full Story »

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3.1
 by Roland F. Hirsch - Jun. 14, 2008

This opinion piece has some journalistic merit. The author does not provide any context for the actual effects from a "windfall profits" tax. Would it apply to the majority of corporations in other industries, whose profits after all are higher than the oil companies by percentage? What really happens when tax rates go up? This economics context is missing, though the author does note two articles that do argue against tax rate increases. The author does not point out that the five companies named in the article are very small compared to the major oil companies, all of which are government owned, the largest (ExxxonMobil) ranks only 13th worldwide: http://www.powerlineblog.com/archives2/2008/05/020589.php

(13 answers)

Roland's Rating

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3.1

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