"Bush Rejects Tax on Oil Companies' Profits"

[Crankie Avalon]

Bush Rejects Tax on Oil Companies' Profits

By JENNIFER LOVEN, Associated Press Writer
9 minutes ago

WASHINGTON - President Bush on Friday rejected calls in Congress for a tax on oil company profits, saying the industry should reinvest its recent windfalls in finding and producing more energy.

The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. Rather than for the government to reap the benefit from oil company profits driven by the recent surge in global oil prices, he said, "The answer is for there to be strong re-investment."

"These oil prices are a wakeup call," Bush said. "We're dependent on oil. We need to get off oil."

More: http://p8.news.re2.yahoo.com/s/ap/bush;_ylt=ArjxhosKGP7V5QkDiC6L7x5saMYA;_ylu=X3oDMTA5bGVna3NhBHNlYwNzc3JlbA--

Always looking out for...well, somebody. :patriot: :puke:

[BrklynLiberal]

1. Peeing on my shoes, and telling me it is raining. .again

[ewagner]

2. Surprise, surprise, suuuurrrrprisssssseee...

(/gomer pyle voice)

[kurth]

3. Wake up, Americans

Listen to the president and quit putting gasoline in your car. Use water instead - plenty of hydrogen there...

[partylessinOhio]

4. I'm shocked! Shocked, I say!

:sarcasm:

Didn't he say the opposite yesterday? He must have had a lost evening.

[zbdent]

5. Yeah, that idea of the companies researching energy really worked:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x51842

[Coastie for Truth]

6. Auto Coalition says Raising CAFE is a non-starter

I still maintain my contacts in the Michigan Democratic Party. And the word from Lansing (and the Lansing Branch Office in Washington) is that raising CAFE is a non-starter.

My response - it will be a quick start after GM goes into Chapter XI and Toyota picks up the remains.