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Keyword: profitsboard

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  • Dems propose 'Reasonable Profits Board' to regulate oil company profits

    03/01/2012 3:39:35 PM PST · by ColdOne · 74 replies · 5+ views
    The Hill ^ | 3/1/12 | Pete Kasperowicz
    Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits. The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit. The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100...