[ritewingwarrior]

First Ted Kennedy, now Specter? Im beginning to think that Specter needs that economics lesson as much as the liberals. I'm sending my disagreement with this policy to Specter, the GOP, my Florida representatives, and the White House.

Our party has no ideas and its really sad.

[TomServo]

Specter is such a damned idiot.

[China Clipper]

Now Specter???

Who the heck is next? 007?
He could always deal with Specter very well.....

[tx_eggman]

Specter said that after the chief executives of top oil companies testified in Congress last month, he has co-sponsored legislation that would, in part, "make the OPEC countries, Saudi Arabia and Venezuela and the other countries, subject to our antitrust laws."

The man's stupidity knows no bounds ...

[rhombus]

This is so Congress can gouge us.

[edpc]

"They get together, reduce the supply of oil, and that drives up prices," he [Specter] said.

Quite the accusation. If he could prove collusion, I would be in favor of some sort of punative measures. Without that, however, it is wrong to confiscate corporate profits based on market forces outside of their control. This is especially true if the government bears a lot of responsibility of this mess due to past pacification of despot regimes, over regulation, and a failure to exploit domestic resources.

[mc6809e]

I'm beginning to think that Specter needs that economics lesson as much as the liberals.

Specter isn't the only Republican that needs a lesson. Just wait a few minutes and see the responses you get right here.

[unixfox]

Yep, that's right tax em, that'll solve the problem.

[Mo1]

Adding ANOTHER tax will make gas prices out down??

HEY CONGRESS ... How much are YOU collecting from these gas/oil taxes for YOUR pet projects???

[sandbar]

I'm torn on this issue. I'm for free market, I'm for free enterprise, I also recognise that the economy is based on the price of fuel. It affects EVERYTHING.

[A Balrog of Morgoth]

No, Spector has a point, but he just doesn't go far enough.

We should extend this to other examples of "windfall" profits.

Sometimes, the price of lettuce and cucumbers at my local grocery store will double, all in the space of one week. Obviously, there is collusion and price-gouging going on. We need to do something about Big Produce. Right, Arlen?

[stevio]

He Bush's boy.

[Wolverine]

Spectre: Windfall tax for GOVERNMENT BENEFIT.... 'worth considering'

[CROSSHIGHWAYMAN]

It's the government that reaps a windfall tax on gasoline now.......

the big oil companies want to reinvest their profits in new wells, refineries and expanded services which would create thousands of new high-paying jobs....

But all the insane Congress can think of is higher taxes.

I remember when Bush 41 was duped to go along with higher luxury taxes in 1990....

They nearly destroyed the boat building business.....

If you want less of something...tax it!

If you want more of something....reduce the taxes on it.

[P-40]

Okay, I considered it. Found the idea stupid. Next topic, please.

[drypowder]

They should reinstate profit regulation on motor fuels.

[JamesP81]

Just another excuse for the government to get their hands on other people's money.

[Bikers4Bush]

The per barrel cost of oil is up because of speculative traders, come down on them and the price of oil drops.

[hgro]

Senator Sphincter, spare us your musings.

[mewzilla]

Dear Sen. Specter: I pay my federal, state, and local governments in taxes TWICE what the oil companies get in profit off a gallon of gas.

WHO'S gouging?!

[Dog Gone]

"They get together, reduce the supply of oil, and that drives up prices," he said.

They've got a funny way of doing that, Arlen.

There are 248 MORE drilling rigs operating in the US today than this time last year. How exactly does that reduce supply?