Senate Republicans Block Taxes on Oil Majors

WASHINGTON - Senate Republicans have blocked a Democratic plan to tax the windfall profits of the largest oil companies.

Democrats on Tuesday failed, 51-43, to get the 60 votes needed to overcome a GOP filibuster of the energy package, and bring the bill up for consideration.

Democrats said the huge profits enjoyed by the largest U.S. oil companies should be reined with motorists paying more than $4 a gallon for gasoline and oil prices soaring well beyond $100 a barrel. But Republican critics said higher taxes on oil companies would increase — not lower — gasoline prices and reduce the incentive for domestic oil exploration and production.

Ok. I thought this was what the people wanted? As I understand, the taxes would be used to create/support more alternative/renewable energy domestically?

Florida people don't want drilling & exploration in their backyards. Miles O'Brien of CNN stated yesterday that there is only 3 months to 2 years of oil in ANWR according to high and low end estimates depending on our domestic consumption rate.

We really need to find other options. We can't drill our way out of this.