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Thursday, July 30, 2009

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 Thomas E. Brewton on 07/30 at 11:43 AM
Economics • (1) Comments
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