The AP reported that Senate Republicans voted to block an effort by the Democrats to tax oil companies for having a "wind-fall profits tax" whenever they make excessive profits. They claimed that the five largest oil companies in the US do not control world gas prices and taxing them would discourage domestic production. I am not completely sure if I support a profits tax, but if it had passed and if the money raised would have gone to support alternative energy research, then I would have been even happier. But the GOP also blocked a plan that would extend tax breaks for Alt Energy research that are set to expire soon. A double whammy for consumers and the environment!
>>>Yahoo!/AP-Senate GOP blocks windfall taxes on Big Oil