Bush opposes windfall profits tax on oil


WASHINGTON, April 25 (Reuters) - President George W. Bush would oppose a windfall profits tax on oil companies as advocated by some members of Congress, White House spokesman Scott McClellan said on Tuesday. McClellan called the idea "a failed approach, a failed command and control approach of the past." Some Democrats and at least one Republican, Pennsylvania Sen. Arlen Specter, have said a windfall profits tax should be considered. ExxonMobil Corp., for example, in January reported ...

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