Senate Republicans Show Where Their Loyalties Lay

Senate Republicans refused to do anything that the oil companies wouldn’t like. They refused to go along with a Democratic plan to tax the oil companies “unreasonable” profits to lower prices at the gas pump as well as a Democratic plan to extend tax breaks to alternative energy companies. The windfall profits proposal would have:

-imposed a 25 percent tax on profits over what would be determined “reasonable” when compared to profits several years ago, but given them a pass if they invested in alternative energy.

-Required traders to put up more collateral in the energy futures markets and open the way for federal regulation of traders who are based in the United States but use foreign trading platforms. The measures are designed to reduce market speculation.

-Made oil and gas price gouging a federal crime, with stiff penalties of up to $5 million during a presidentially declared energy emergency.

-Authorized the Justice Department to bring charges of price fixing against countries that belong to the OPEC oil cartel.

Once again the GOP shows that they care more about the corporations which fund and control them than the American people. The GOP wrapped their message in false concern for the American people, but they have yet to make any efforts to relieve the American consumer of these outrageous gas prices, so it rings hollow.