Windfall Tax on Big Oil

ExxonMobil posted profits of $5.5 billion in Q2, more than twice that of Q1. Some people are calling for a windfall profits tax that would address the high price of gasoline.

Unfortunately, the fossil fuel industry, ExxonMobil in particular, is against the idea, so it has no more chance of passing than a law protecting our children from assault weapons.

Big Money wins.  Exceptions are few.