Bush Rejects New Tax On Oil

Even record high profits for oil companies, Bush has so far done little help the problem. I do not feel that if prices come down it will help Americans. All it will do is create more demand for oil, the thing that we are trying to get away from. But so far oil companies with RECORD profits and huge executive compensation have put little if anything at all into alternative fuels. Oil companies are all about oil, so most of them are not worried about developing other types of fuels. The companies are making huge profits, so why would they divert that to a costly endeavor?!?!

Most companies would like to keep the profits that are made and not reinvest the profits when they don't need to. That’s why a tax on the ever growing profits would be good. Than the government with the money made, can give the money to different sources who WILL effetely research alt. fuels. But President Bush said that "the temptation in Washington is to tax everything. The answer is for there to be strong reinvestment to make this country more secure from an energy perspective." But oil companies will NOT make strong reinvestments, when it will cost them much of the record profits and even cost them what they are, OIL COMPANIES. They are not alt. fuel companies or hybrid companies, they are oil companies. And oil companies will look out for the good of oil.