Since our country so much believes in subsidizing wealthy corporations - Especially the ones that are too big to fail - then we should look into a subsidy for the development of alternative energies. This coming from the oil tax revenue.

Or at least use oil tax revenue (windfall taxes specifically) to invest in research. We should also see the subsidy go towards well planned medium sized startups instead of corporate behemmothes who will spend a lot of their money on lobbyists to rent out the market or create barriers.

Falling for the idea that oil will never go up is like thinking that real estate prices will keep going up and never come down. We're just being duped again.

The prices didn't come down because we adjusted our driving patterns, nor because of that phoney offshore drilling that was passed that will barely effect supply. It went down mostly because speculators and the market saw the inevitable that Obama would be president, and regulations and taxes and whatever else would be coming if speculators and fudgerators kept up their dirty business.

Do you really think that prices went up 4-fold because of a sudden rise in activity. Especially with the threat of alternative energies that were on the horizon, oil prices should never have climbed that high.

And even due to the economy, do you really think that we have as a whole (the whole world), cut our oil use by 75% as is how much oil has dropped. NOPE. Speculaors ran scared.

And don't think they won't be back. Especially now that alternative energies are put on hold with low oil prices. Don't put out the candle on alternative energies.

Keep the windfall taxes and use it as research. So did the oil companies lose all the eccess record gains they made on our misery in the last 4 years. NOPE.

Tax them and bring competition to these corrupt rent seeking parasites.

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then don't advocate a windfall tax.

The government doesn't engage in much research. Private companies do. With incentives, companies engage in research to improve their own products.

The argument for windfall taxes is that the money is generally used by the government to benefit the people in some way. The main argument against them is that they're a disincentive to companies seeking the most profit they can in a healthy way. What are the first things out the window when profits are down? Research and Development is one of them.

Antitrust regulations should govern the way oil companies do business, to insure that there isn't collusion to limit production at the refinery level to control prices. Government incentives should provide a healthy carrot for them to come up with better ways to make their products burn cleaner and last longer, as well as search for new sources of energy that they can add to their lineup.

Now is not the time to impose a windfall tax. That happens when a company is taking advantage of economic conditions to earn excessive profits. No one really knows what's going to happen to oil prices in this changed world economy, so the decision to belay or just delay the windfall tax is probably wise.

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Another oil slick on the Kool Aid.

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world wide. OPEC has already cut production and the per barrel price kept falling in spite of the production cuts.
OPEC, according a Houston Chronicle article last week, is running scared and does not know what to do next. They are now fighting amongst themselves and trying to figure out who to throw off the survival life raft.
With consumption down world wide, amid fears that consumers have made permanent life style changes, there is no need to implement a windfall profits tax, offer incentives to expand refinery capacity, subsidize drilling offshore or in Alaska. OMG Palin will be wailing.
Americans are tired of fighting losing wars for oil. They are financially bankrupt from four years of putting high gas prices on intrest raping credit cards.
They are tired of their life-styles being oil-dependent. They are working from home computers and, where available, riding on public transportation. They are buying homes closer to schools, farmer's markets,necessary shopping and their work place.
The oil refining industry knows this and so does OPEC.
Then there are the facts and rumors about peak oil. The Saudis will not allow anyone to confirm how much oil they actually have left. This leads to speculation, world wide, they are running very low.
The economy is and has been tanking for over a year, a wind fall profit tax would simply be passed on to the already stretched purses of consumers and they, rightfully, would tighten their belts even further.
In threatening a windfall profits tax, Obama did the right thing. Realizing when the need no longer exists, is also the right thing.
Consumer demand world wide will drive oil companies,auto makers and state transportation plans into innovation. Those who can not or will not change, will not survive.
Obama changed his mind because the facts have changed. Having a president who can change his mind, when the facts change, is a desireable thing. What do you want, four more years of "staying the course" in spite of the facts on the ground or changing world demand? I think not! Regarding a windfall profits tax, Obama did not break a promise, he changed his mind when the situation changed.
Again, stop supporting writers who need drama and controversy to feed off your fears.
Stop and think. Try using your own eyes, your own ears. Think fast and realize the world as we (over thirty) knew it, no longer exists.

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...bit of evidence that the people that have sipped the Kool Aid during the election, are now starting to wake up with more than a hang over.

Obama was that biggest corporate whore during the election, and is now starting to paying back his pimps sooner than I thought. Welcome to the change you all slurped so willingly.

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Could we just wait until the guy is inaugurated and actually breaks a few promises before we jump on him with a fours, fangs slashing?

I realize you people need stuff to write about, but back the hell off for a while. Your bitterness and gall is poisoning your entire newsletter.

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Free market philosophy says that a business can charge what the market will bear. Simply put the energy companies, pharmaceutical companies, insurance companies, and a few others pushed their profits way beyond what the market could bear and broke it. They have also been involved in unethical and blatantly illegal activity for decades, and with the oil companies, behaved just like the mob.

I say, take it away from them! Immediate government take over of all these industries should smooth the way to uncovering their crimes and punishing those responsible for the decisions and the implementation. The people of Bhopal, India are still waiting for justice for the mass slaughter there.

As the corruption is weeded out the illegal gains can be confiscated to pay off the debt incurred by these racketeers so our children don't have to. Then we can gradually re-privitize the industries if we want. They made their bed, now I want to see them sleeping in their mess.

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Obama is fiting nicely into the will of corporate profits at the cost of the middle class.

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I have been visiting Mars for the past few weeks and did not realize that PE Obama had already taken the oath of office.

Where is bush? Where is cheney? Did they leave office early?

Guess I'd better start catching up on the news.

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Nevermind that the republicans created the disaster. They are milking it for all that they can before Obama takes office.

We can only hope that at some point he can start to mend the great radical right mess. You know the right made a whole generation sign oaths that they were not members of the communist party. I see no reason that we should require an oath stating that under the penalty of perjury you are not a NEOCON or a believer in the radical right.

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