Don’t Beat Up Big Oil. It’s Just Doing Its Job

INSANITY,” the old saying goes, “is doing the same thing and expecting different results.”

That adage came to mind as I watched the Congressional hearings into accusations of gasoline price gouging and windfall profits for the oil companies. Real “men in white coats with straitjackets” insanity came to mind as I read about Republicans in committee voting a few days ago to tax the stockholders of oil companies with what amounts to a windfall profits tax….

The wise men on Capitol Hill apparently have so little education in economics that they believed that the rise in oil prices was a conspiracy fixed by the large oil companies. Not only that, but the oil companies reported large profits for the most recent quarter, and this also supposedly showed something nefarious at work that needed Congressional tampering to be set right.
New York Times