The View From 1776

Windfall Profits

Exxon’s latest quarterly profits are down 66%, because of the sharp decline in the price of oil.  If, as economic ignoramuses on both sides of the aisle in Congress shrieked when oil was well above $100 a barrel, Exxon deserved to be hit with an excess profits tax, does the company now merit a windfall-depressed-profits bailout?

Posted by .(JavaScript must be enabled to view this email address) on 07/30 at 11:43 AM
  1. Exxon was not levied an excess profits tax, so the question is moot. We need not shed too many tears for Exxon because they are still making lots of profit.
    Posted by .(JavaScript must be enabled to view this email address)  on  08/01  at  11:55 AM
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