In the short term, this is a minor and perhaps understandable letdown, but a letdown nonetheless. From Salon:
In June, during his campaign for presidency, Barack Obama promised that he would institute a “windfall profits tax” on US oil companies. “I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills,” he said at the time.
Of course, crude was above $140 a barrel back then, and U.S. consumers were shelling out nearly $4 for a gallon of gas. Now, with crude prices having dropped more than $100 a barrel, Obama has apparently given up on his idea.
Wednesday, the Houston Chronicle reported that the American Small Business League noticed that language referring to the policy has been removed from the Obama transition team Web site, Change.gov.