What Energy Crisis?

What, where's the energy crisis?

Well, that's what I found myself saying after reading this very eye-opening statement: "According to the Tax Foundation, between 1977 and 2004, the 29 largest U.S. energy firms collectively earned $630 billion in net income after adjusting for inflation. During that same period, those companies paid more than three times as much -- over $2.2 trillion -- in royalties, state and federal motor fuel taxes, and corporate income taxes.

Yep, the so called "windfall profits" of the big oil companies are just one third of what they pay out in taxes! How would you like it if you ended up paying two thirds of your income in taxes and only being able to keep the remaining third!?

It definately seem that " good case can be made that it is politicians and other tax consumers, not the oil companies, who harvest “windfall profits” from the oil business. In any event, because oil companies pay corporate income taxes, their tax payments will rise substantially this year even without “windfall profits” taxes.

Food for thought... eh?