OIL PRICES-CONTINUED

Sgt Fluffy said...

See Gas Prices:

"This is when the Federal Government should come in and file a "windfall profit tax" against the oil companies. They did it before back in the '70s, they can do it again. The price for a barrel of oil has been slowing going down but not the price at the pumps."


There you go, but I don't remember the "windfall profit tax in the '70s but I do remember Reagan introduced it in the 80's up to '87. I can't say for sure but it might have lead to the oil companies coming up with new ways to drill for oil. So, all of those huge profits were being put back into the company for research and development.