| Why is Fred Thompson against a windfall profits tax against the petroleum companies?
Should we bail them out if they fail? Fred's arguement is a good one. Profit margins for oil companies have been consistently about 10% for about 60 years. They have increased costs of exploration and development that has to come out of Profit.
Profit Margin and Profit are two very different things.
They are reinvesting. Also dividends are going into your 401k, my 401k, my retirement, your retirement.
Profits are not bad. Government intrusion in free enterprise IS bad. Government does not know how to run a business.
They problem with domestic refineries and exploration is directly attributed to government regulatory issues as the result of the ecowhack lobbyists. |