He said a 1984 General Accounting Office report said that the windfall profits tax was possibly the largest and most complex tax ever levied on a U.

As of now, there is no evidence to support that oil CEOs are reaping huge rewards while their companies are performing poorly. Tom Zwirlein, a professor of economics at the University of Colorado at Colorado Springs, said the compensation packages pose no immediate threat to the U. During that time, he said domestic oil production dropped between 3 and 6 percent and oil imports increased between 8 and 16 percent, increasing American dependence on foreign oil. If they do the right thing and invest their profits to increase supply, then, ultimately, we will all benefit. This is an amendment with tangible benefits to consumers without undermining the oil industry.