Dennis Kucinich: “Congress must break the hold which the oil companies have on the politics of our country. The American people are…”

“Congress must break the hold which the oil companies have on the politics of our country. The American people are demanding action. The price of gasoline has climbed to over $3 a gallon, headed towards $4, maybe $5 a gallon. But listen to this: since 2001, the five largest oil companies have made over $280 billion in profits. ExxonMobil alone made $36 billion in profits last year. There is only one way to stop the oil companies from an endless series of increases in the price of gasoline. Nearly 50 Members of Congress have now signed on to my bill, H.R. 2070, which calls for a 100 percent excess profits tax on the oil company profiteering. This act does not tax the price of gasoline so it will not increase the cost. However, by taxing excessive profits, it puts the breaks on price gouging and will lower the price of gasoline. Congress must not stand by while the oil companies are stealing from the American people. ____________________”