Green Piece

The simple musings of a man who thought he knew everything . . .

Thursday, November 10, 2005

Obscene Oil Profits

OK, now it is time for me to take any chance that I ever had of making people like me and throw it down the drain. I have been asked to blog about the record profits that oil companies are having this year. This is a touchy subject to people, but I will say that my thoughts are that companies (especially publicly traded companies) are in business to make money. If they are not doing something inethical (making lots and lots of money doesn't count) then I say let them do their job.

The fact is that I cannot say it as well as Walter Williams, so I will simply refer you to the man himself and let you read what he said about Windfall Profits.

1 Comments:

  • At 5:30 AM, Blogger K said…

    You're absolutely right. Just because someone makes money doesn't make them bad.

    Let us not forget that if oil companies didn't have the opportunity to make this money, they wouldn't go drill for oil in places like the tar sands in Canada and take risky ventures in Nigeria, etc.

    Taxing profits like this is a fools errand. It is shocking how many politicians (and people) ignore econ 101.

    Embarrassing.

     

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