Fight over oil tax threatens energy bill

[cal04]

A rebellion by oil-state Democrats over $16 billion in new taxes on oil companies is threatening to upend House Democratic leaders' plans to swiftly pass energy legislation.

House Speaker Nancy Pelosi remained confident she would have the votes to pass the energy package Friday ahead of Congress' monthlong summer recess, according to her aides. But she needs solid Democratic support to overcome staunch GOP opposition.

"I know they're looking for votes," said Rep. Gene Green, D-Texas, one of the Democrats who has balked over the oil industry tax increases.

Green said some of the "Blue Dog" Democrats — moderate to conservatives, including lawmakers from oil producing states — were threatening to withhold their support.

"I think it's too much to hit one industry with," Green said in an interview.

http://news.yahoo.com/s/ap/20070803/ap_on_go_co/energy_congress

[and-justice-for-all]

1. Oil revenue should be taxed to DEATH!!!! nt

[Solo_in_MD]

2. profits yes, not so sure about revenue