If the Democrats succeed in enacting a windfall profits tax on oil companies, it will inevitably backfire. The tax will get passed on to consumers in the form of even higher gas prices, which is the last thing America needswhile it slogs through this tough economic spell. Mind you, I’ve never been a defender of the oil industry, but this isn’t just bad business for Exxon Mobil — it’s bad business for ordinary Americans, too.
