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This is from the
Investors Daily Edge.
A week that saw the
war on taxpayers expand onto to several new fronts also saw US Senate
Republicans win a pitched procedural battle to keep gas at the pump grossly
inflated.
The US?s minority
party routed American taxpayers Tuesday when it mopped the floor with
citizen-related issues by blocking a vote that would have:
- Killed
corporate oil?s $17 billion tax break.
- Taxed
excessive corporate oil profits, unless big oil poured the excess into
exploring alternative energies.
- Forced oil
futures speculators from big investment banks, hedge funds and
brokerages to have a lot more than 5% cash in the margin accounts they
use to bet on oil. Such a move would have dramatically cooled
speculation, which even oil company executives admit makes a barrel of
oil (today) $70 to $80 too much.
- Made it a
federal crime to price gouge oil and gas.
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