Oil price spikes over the summer months have driven up the price of gasoline. Consumer complaints have resulted in Congressional hearings. These hearings resulted in a bill to reintroduce a windfall profit tax on oil companies. The authors investigate the current profitability of the five largest oil and gas companies to determine whether excess profitability was evident and this tax would be justified.

The authors write: An old saying exists that it's an ill wind that blows

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