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Congressional Kabuki | Oil Watchdog

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Congressional Kabuki

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Wed, Feb 27, 2008 at 7:07 pm

    Congressional Kabuki

    2-27-08 by dugan

     

    Could oil companies that collectively made $123 billion last year afford to give up $1.8 billion a year (less than 1.5% of annual profit) from the tax subsidies that you and I are paying them? It’s not a question worth answering. Nor do we need to ask why President Bush insists he’ll veto the House bill passed today, even if the Senate can muster a way to overcome the expected Republican filibuster. The only question is how long Big Oil will own the government for its bottom-line benefit. Nice gesture by the House, though, with lots of appropriately outraged rhetoric. I hope they’re just practicing for the time when the legislation will have a chance.

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