Greg Palast: Obama's Secret War Profiteering Tax | OurFuture.org

Curtailing the flow of oil, raises the price per barrel and for good reason - it slows distribution and allows for maximizing profits. [excerpt] "... Nevertheless, oilman George W. Bush opposes it as does Bush’s man McCain. Senator McCain admonishes us that the po’ widdle oil companies need more than 80% of their windfall so they can explore for more oil. When pigs fly, Senator. Last year, Exxon spent $36 billion of its $40 billion income on dividends and special payouts to stockholders in tax-free buy-backs. Even the Journal called Exxon’s capital investment spending “stingy.” ..." Why aren't the companies spending more on exploration? Because they know that the remaining oil deposits are smaller and smaller. Read more of award-winning investigative journalist Greg Palast.