Windfall Profits

The ever-wise economist Mr. Walter Williams has an excellent article concerning the “Windfall Profits” of the evil oil companies. It is written in simple language and steeped in sure logic. Enjoy

Excerpt:
“Instead of mouthing platitudes and beating up on oil executives, Speaker Hastert should lead the effort to reduce restrictions on drilling and refinery construction. Sen. Dorgan should review our 1970s experience with an oil windfall profits tax that reduced American production and increased our dependence on foreign sources.”

Tsu Asks: Shall we try deregulation? How about opening up more areas of the US to oil exploration? or Possibly relaxing overbearing EPA redtape to encourage refineries to be built? Free market anyone?

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