Liz Warren said Congress is investigating oil companies for WINDFALL PROFITS….but not BIG PHARMA

[bendog]

The ghost of Carter reappears..

Sort of unfair to Carter. Carter actually got rid of price controls dating back to ... Nixon? The price congress "extorted" was just an excise tax on DOMESTICLY extracted oil. Not perfect, but it was mostly political bs... for both parties. Like Reagan cared about deficits, lol.

Crude Oil Windfall Profit Tax Act of 1980 - Wikipedia

en.wikipedia.org

IF you look at chevron and exxon profits, it's hard not to be pissed. But I don't know how a law can somehow identify what profits are not poured back into exploration (domestic or for seems irrelevant to me, just so long as there's "more" oil) Warren is a smart person and knows more about this shit than probably anyone in congress, but I think she's just grand standing. OF course capital gains on investors owing shares of oil companies is laughably low. Back when I owned a pittance of stocks, I loved exxon.

 

[ColonelAngus]

Why is Warren critical of oil profits, but not pharma from a FORCED VACCINE?

 

[BS Filter]

The democrat playbook. When gas prices rise, blame the oil companies.

 

[BS Filter]

Its fascinating that communists do not mind WINDFALL PROFITS for Pharma.

Why?

Follow the money. Check and see how much she got from big pharma in her campaign contributions.

 

[bendog]

Why is Warren critical of oil profits, but not pharma from a FORCED VACCINE?

I'm not sure how much "profit" pharma made on covid vaccines. But windfall profits generally refer to market forces and fuck over consumers and benefit suppliers. But as I posted earlier, I don't see how a govt law can really identify what is profit and what is plowed back into adding production.

And remember, Trump contracted with Pharma for the vaccines, some of which (even most) were never produced. And that's not a criticism of lagrande orange