Congress Following Carteresque Energy Policy

The message Congress is sending is that it is not good to make too much money. Market center blog points out that even Republicans Bill Frist and Dennis Hastert are saying that oil companies are earning too much money. We have seen this problem too many times in the past, including price restrictions on flu vaccines during the 90s, which has led to today's shortage.

Here's my message back to Congress: If the government is truly that concerned about high energy prices, perhaps you should reduce the energy taxes you charge. Over the past five years, the government has earned more money from energy taxes than the profits of all U.S. oil companies combined. We know who is really making too much money.