<One must expect dissent . . . .The Oil Drum

34 comments on A proposal for the windfall profits

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Dave Cohen on October 28, 2005 - 10:02pm Permalink | Subthread | Comments top
Ianqui -- I agree with what you wrote but I am having some second thoughts about windfall profits after having seen the ExxonMobil numbers today. In my view, a tax on some of these revenues would do very nicely to help get people who can't pay their home heating bills through the 05/06 winter.
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Typhoon on October 29, 2005 - 11:54am Permalink | Subthread | Parent | Comments top
No, a tax on oil company revenues would be an idiotic idea.  We shouldn't do anything that encourages oil consumption.  This is basic economics.  If the government were to lower the gasoline tax, there would be less of an incentive to conserve.  With higher demand than there would otherwise be, the price of gasoline increases, which nullifies the effect of lowering the tax in the first place!
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