Leahy Pushes Windfall Tax on Big Oil - WCAX.COM Local Vermont News, Weather and Sports-

Leahy Pushes Windfall Tax on Big Oil

Sen. Patrick Leahy Sen. Patrick Leahy

Colchester, Vermont - June 8, 2008

Senator Patrick Leahy says the Republicans will be to blame if they try to block a windfall profits tax on oil companies.

The Vermont Democrat says the Senate takes up a bill on Tuesday that would impose extra taxes on big oil profits. It would also make oil companies and OPEC subject to antitrust action when they do business in the United States.

Leahy said, "The President said a few weeks ago, he said I never heard of the idea of four-dollar gasoline. Well, we have it and think it's a possibility of five and six dollars, unless those who are manipulating the price actually think the Congress will stand up. So the vote on Tuesday's going to be very important. If the Republicans filibuster the legislation, then prices will continue to rise."

Leahy said he's convinced that normal supply and demand does not account for the high price of gas.

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