“Penalizing” Oil Companies

“We can’t just penalize these companies with an accounting gimmick, right at the same time that we’re trying to give them incentives for investing in new facilities.”

- Senator James Bunning (R-Ky.).

“[Republican are] undermining the energy policy that we have been working on for years.” “I suppose it's because you found out that energy companies are making some money.”

- Senator Craig Thomas (R-Wy.).

Edmund L. Andrews. “Senate Panel Approves Special Tax on Oil Profits,” NYT’s, 11/16/05. The “accounting gimmicks” to which Senator Bunning refers apply to both the “penalties” and the “incentives”.