Friday, January 19, 2007

The Fat Cats' Bill Has Come Due in Congress

While the bloated oil tycoons may still be free to jack up their prices and scoop up windfall profits to pay for corporate jets, palacial homes, and personal tax advisors showing how to make even more obscene amounts of money off international oil dependence, they will no longer be doing so free from giving back something to their homeland. Congress rescinds the Bush oil tax breaks and adds the royalties that should be charged for taking oil on public property. Now when they charge us more at the pump, we know that at least some of it will be going to help Americans in general rather than the just the children, grandchildren, and personal caddies of Exxon CEOs.


  1. It's a good thing, no question -- but let's not pop the champagne quite yet. It got through the House, but there's still the Senate, and (of course) President "Signing Statement" Bush. It should get enacted without too much distortion, but we'll see.

  2. Yes, those are big "ifs." Didn't mean to jump the gun. After several years of regress the slightest advance seems like a quantum leap.