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 Extortion House OKs New Taxes on Big Oil Companies

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Extortion House OKs New Taxes on Big Oil Companies Vide
PostSubject: Extortion House OKs New Taxes on Big Oil Companies   Extortion House OKs New Taxes on Big Oil Companies Icon_minitimeWed Feb 27, 2008 8:11 pm
Law. the crime of obtaining money or some other thing of value by the abuse of one's office or authority.


WASHINGTON (AP) — The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.

The money collected over 10 years would provide tax breaks for wind, solar and other alternative energy sources and for energy conservation. The legislation, approved 236-182, would cost the five largest oil companies an average of $1.8 billion a year over that period, according an analysis by the House Ways and Means Committee.

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