Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

3 of 13
BACKNEXT
A windfall profits tax on Big Oil
This idea is a recurring theme among lawmakers, especially Democrats.

Barack Obama would impose a windfall profits tax on the big oil companies whenever oil crossed the $80 a barrel mark. Some analysts feel $80 a barrel is what oil 'should' be priced at, factoring out investment money and unfounded supply fears. The cash would be given to low income people to help them offset their energy costs.

Another idea along these lines is eliminating oil company tax breaks and using the money to fund research into renewable sources.

Opponents say raising taxes on oil companies will result in less oil production, and ultimately lead to higher prices. If the government didn't tax oil companies and simply borrowed the cash to give consumers, they say, that would only hurt the dollar and send oil prices higher.

NEXT: Enacting a 'cap and trade' plan

Last updated September 25 2008: 3:43 PM ET
More Galleries
14 last-minute tech gifts under $100 From wireless headphones and smart speakers to game consoles and unlimited movie tickets, here are the best bets under $100. More
8 cool things cars of the future will do The coolest features that tease the future of driving, from windshield projections to never needing to park again. More
The best gadget gifts for 2017 A holiday gift guide for anyone who wants to spread some techie joy. More

Special Offer