I think Congress was right in criticizing the ...

Republican U.S. Senate candidate Bob Schaffer lamenting that oil companies have a lower profit margin than the insurance and banking industries, and then making the astonishing observation that "the federal government is raking in a bunch of cash right now on the backs of energy producers." TRANSCRIPT: "You know, the interesting thing is, the reality is, the marginal profit of the oil...energy industry in America today is 8%, which is modest compared to insurance, for example, insurance companies or banks or other industries. But because prices are soaring, the reality is the federal government is raking in a bunch of cash right now on the backs of energy producers. So, that's one part of the equation that people seem to be missing right now. You look at the tax payments that are being made right now by the major oil companies and the month-to-month increase that you've seen over the last several months, the amount of income the federal government is raking in right now is enormous." http://www.markudall.com

http://www.energyandcapital.com Editor Chris Nelder talks with Neil Cavuto about outrageous oil company profits and whether they should be taxed or not. Cavuto goes off on Youseff Robb.

http://www.energyandcapital... editor Chris Nel...