With US Gas Prices at All-Time Highs – Democrats File Bill to Tax Oil Companies

Gas prices are at an all-time high — more than doubling since election day 2020.

The price of regular gas is hovering around $4.35 per gallon.

In response to these record prices, Democrats want to tax oil companies.
Of course, they do.

They really hate their country.

Bloomberg reported:

Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions.

“Big Oil’s first priority is to maximize profits,” Warren, a Massachusetts Democrat, tweeted on Wednesday. “We can’t let them use Putin’s invasion as an excuse to pad their bottom line with war-fueled profits,” she said, referring to Russian President Vladimir Putin’s invasion of Ukraine. “So I’m working with Senate Democrats on a windfall-profits tax.”

Oil companies are enjoying their biggest windfalls in more than a decade as crude prices hit levels not seen in more than 13 years. Even before the invasion of Ukraine, oil had rallied amid a recovery in global demand and tight inventories — sparking a cash bonanza for U.S. producers and fueling dividend increases and further stock buybacks.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!