Six House Dems Would Confiscate ‘Excessive’ Oil Profits

By: Steve Maley (Diary)  |  January 22nd at 08:35 AM  | 

Six House Democrats, led by Rep. Dennis Kucinich (D’OH), have filed a bill aimed at controlling gasoline prices. Styled the “Gas Price Spike Act”, H.R. 3784 would establish a “Reasonable Profits Board” which would have the power to confiscate 100% of oil company profits above a level that they deem to be “reasonable”. I know: “You had me at ‘Kucinich’.” Kucinich is either a naive | Read More »