Letter: Windfall tax suggested for oil companies
Looking back on the spike in gas prices does leave some questions. Experts on the oil industry would not misjudge the supply and demand that drastically wrong. Oil prices are a big influence on the economy, and we never in my lifetime had a bad economy in an election year. So I start to look at who would want this.
The Arabs knew McCain was a military man from a military family so would by nature want success by military means. Obama did have some schooling in a Muslim school for a few years so would understand them better, which would make him capable of a less bloody and quicker peace.
The biggest oil companies that are multinational do not have allegiance with a particular country. So when they have a supply in one country and a customer in another, it is definitely in their best interest to see peace soon.
Since the United States always votes with the economy, these two groups had the power to change the economy in the short term and change the price of gas back down right away again. Neither group wants the economy to die since we are their customers, so making lower than usual gas prices after so successfully damaging the economy was necessary for their own best interest.
When a subsidized industry gets manipulative like this, I see no reason not to charge a windfall profits tax.