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  • Specter: Windfall tax for oil companies 'worth considering'

    04/24/2006 6:37:11 AM PDT · by ritewingwarrior · 83 replies · 1,276+ views
    CNN ^ | April 26, 2006 | CNN
    (CNN) -- Amid rising gas and oil prices, a leading Republican said on Sunday that the U.S. government should consider imposing a windfall tax on oil company profits. "I think it's something worth considering among a number of options," Pennsylvania Sen. Arlen Specter, chairman of the Judiciary Committee, told CNN's "Late Edition." He also criticized consolidation in the oil industry. "I believe that we have allowed too many companies to get together to reduce competition," he said, citing the combinations that created ExxonMobil and ConocoPhillips. Specter said that after the chief executives of top oil companies testified in Congress last...