ENERGY ECONOMICS NONSENSE

Democrats have promised to tax the windfall profits of oil companies; however, oil companies only make about 8.3 cents in gross profit per dollar of sales. Why don't they slap a windfall profits tax on sectors of the economy that have fatter margins? For example:

• Electronics make 14.5 cents per dollar.
• Computer equipment makers take in 13.7 cents per dollar.
• Microsoft's margin is 27.5 cents per dollar of sales.

If it's not the profit margin, but the total number of dollars earned, then why isn't he targeting other industries?

• Oil and gas companies made $86.5 billion in profits last year.
• The financial services industry took in $498.5 billion in profits.
• The retail industry walked away with $137.5 billion.
• Information technology companies made off with $103.4 billion.

Out of the $46 billion spent researching alternative energy in North America from 2000 to 2005, $12 billion came from oil and gas companies, making the industry one of the nation's largest backers of wind and solar power, biofuels, lithium-ion batteries and fuel-cell technology.

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