Windfall Profits Taxes

When a high-ranking U.S. senator sounds more like Karl Marx than Adam Smith over the issue of energy prices, it must be an election year.

That's Mark Perry at Carpe Diem commenting on the political theater of Senator Chris Dodd.

MP: If Senator Dodd is concerned about industries making "windfall profits," he might want to start by investigating the 57 industries with profit margins HIGHER than the oil industry (see list above, click to enlarge, profit margin data available here).

Here's the picture from Perry's post.

Let's not forget the another profiteer from oil and gas sales of all:  local, state, and federal governments.