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Politics : President Barack Obama
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To: worksinjammies who wrote (21935)5/19/2008 3:00:59 AM
From: brushwud  Read Replies (3) of 149317
 
OPEC said they would be willing to increase production, but it was not necessary at the moment because they were filling all their orders in a timely manner. If we are to accept this as true, then where is the shortage?

There is not a shortage. Supply is meeting demand at the current price. I never have trouble finding gasoline to buy.

I got an email from Barack a few weeks ago which advocated a windfall profits tax on oil companies and was very disappointed. I'd rather see a windfall profits tax on Microsoft and Intel. But really, the government takes about 1/3 of the profit of a typical large corporation, which already makes the government a 1/3 partner in any large enterprise. I don't like the idea of singling out particular industries for punishment for political reasons.

If oil companies are getting an unfair tax break due to depletion which is not available to other industries, maybe that should be changed. I don't know much about that.
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