New Op-ed at Fox News: No Oil, No Profits
If a product is in short supply and if you really wanted more to be produced quickly, would you want companies to think that they could earn a lot of money making it?
You would think that the answer is pretty obvious: No profits, no oil. To encourage more production, companies need to think that there are more profits to be made. With all the anger over high oil prices, more production to lower prices would seem to be a high priority.
But outside of most congressional Republicans, particularly those in the Senate who successfully filibustered a new wind-fall profits tax on oil companies, no one wants to admit what profits do. . . .
Some comments on the piece can be found over at Hugh Hewitt's page here.