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The "windfall profits" tax is back, with Barack Obama stumping again to apply it to a handful of big oil companies. Which raises a few questions: What is a "windfall" profit anyway? How does it differ from your everyday, run of the mill profit? Is it some absolute number, a matter of return on equity or sales -- or does it merely depend on who earns it? Enquiring entrepreneurs want to know. Unfortunately, Mr. Obama's "emergency" plan, announced on Friday, doesn't offer any clarity. To pay for "stimulus" checks of $1,000 for families and $500 for individuals, the Senator says government would take "a reasonable share" of oil company profits.
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Royal Dutch Shell, the international oil giant, thinks the solution to America's oil crisis may lie in the heart of Colorado. Since 1981, the company has quietly funded a multi-million dollar research project that many call a quest for energy's Holy Grail. The mission: to discover a way to safely and economically extract fuel from oil shale, a type of sedimentary rock found in Wyoming, Utah, and especially Colorado's Western Slope. The potential windfall is staggering
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