karl_lembke (karl_lembke) wrote,

Windfall profits – for the government

Wizbang looks at the taxes paid by Exxon-Mobil (163% of total US earnings over the past 5 years, 161% during the first quarter of 2006) and the regulatory controls over the petroleum industry.
Government regulations are also oppressive. As Mr. Cohen said, the oil industry is the most regulated industry in the nation. By the way, all this regulation makes these accusations of price-gouging absurd. In fact, there's even a group of government employees in the Federal Trade Commission, I don't remember this group's name - more information is coming soon, but these folks' jobs are to track and supervise the price of gasoline from all over the country every day. This data is computerized, so if there were any attempt at price gouging taking place, these folks would know immediately.
Tags: politics

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