GOP Drops Plan to Tax Oil Companies: Why? Because the Oil Companies Don’t Like it

Republicans in the Senate yesterday dropped their proposals to tax the oil industry, just days after coming up with the idea – and the reason for doing so was: hmmm, the oil industry and business leaders did not like it.

Even the centrepiece of legislation, the $100 rebate to taxpayers, was seen as getting a frosty reception, with both senior Republicans and members of the public “ridiculing” the idea.

Now the tax plan has been dropped, the only way to offer the rebate is to open up ANWR, the Arctic National Wildlife Refuge. Haven’t we heard that one before… Isn’t it time they came up with something new?

How about looking at their own political funding and giving all the oil money they have received since Bush was elected back to the public? Might come out at over $200 per person.