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Sunday, October 30, 2005

Big Oil Pays Off

While the politicians rant about the profits "Big Oil" is making, there is underlying fact that the real money in the oil business is being skimmed off by government, as is discussed here:
With BP, Exxon-Mobil, and Shell reporting record profits, the Tax Foundation reminds us in its latest Fiscal Fact that the biggest beneficiaries of gasoline sales are federal and state governments, not the oil industry
And you might note that there is some discussion about getting tax rates up to reduce consumption. Meanwhile spending on pork barrel projects goes on and on.

H/T to Instapundit

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