[Pipe_Dream]

I just heard on the radio that Bush has suspended purchases for the SPR (Strategic Petroleum Reserve) in order to increase supply. I doubt it will make much of a difference.

No, we're not even close to running out of oil. BUT, at some point oil companies will have to use more expensive methods to "mine" oil trapped in shales and sandstones. When it is economically profitable (when the price is high enough to make it profitable), oil companies will use these more expensive methods. There is plenty of oil, but eventually it may become cost prohibitive to get it out of the ground -- when, for instance, there is a cheaper, alternative fuel for consumption. Obviously, we're nowhere close to that point now.

The windfall profit tax is just that -- a tax. Passed on (as ALL taxes paid by corporations are) to the consumer, it's ultimately a tax on our fuel purchases. Like we don't already pay enough taxes, federal and state, on fuel purchases. ::)