you guys were made to be the bad guys. this time it s a different story. they are talking about a profit tax on you guys and some type of control? it s totally inappropriate, brian. to your point, they have to find someone to blame. let s thing about the conversation you had with the mayor about venezuela. all he has to do is reverse the decision he made on inaugural day and let s start pumping oil. we had energy independence and we surrendered to the rest of the world because of the commitment to some of his supporters and investors. it s crazy. we have plenty of oil and don t need to go to venezuela. brian: meanwhile, straight ahead. inside john durham s case against the clinton campaign lawyer. the lie at the heart of the case
you guys were made to be the bad guys. this time it s a different story. they are talking about a profit tax on you guys and some type of control? it s totally inappropriate, brian. to your point, they have to find someone to blame. let s thing about the conversation you had with the mayor about venezuela. all he has to do is reverse the decision he made on inaugural day and let s start pumping oil. we had energy independence and we surrendered to the rest of the world because of the commitment to some of his supporters and investors. it s crazy. we have plenty of oil and don t need to go to venezuela. brian: meanwhile, straight ahead. inside john durham s case against the clinton campaign lawyer. the lie at the heart of the case
to buy your oil if you won t sell it for that. what if they don t sell it for that? it s been tried in the past. not particularly successful. what are the other options? how about a wind fall profits tax. that s been tried in the past as well. as well as price controls on oil. we talk to our guru about that. what does he think? wind fall profit tax is ridiculous. first of all, these companies are losing billions of dollars just a year or so ago. now if they go to wind fall profits, they re going to discourage more investment in oil and gas. worth noting that those of us of a certain age remember president nixon and price controls in the 70s. president carter came along didn t have success either. sir? neil: i m young to remember that. i don t know what you re talking
we shall see. neil: what is interesting, too, they ve been pushing a wind fall profits tax on the energy industry. saying that they make a lot of money, which they do. they spend a lot of money. what is interesting about this, going through the finer points, companies will be required to pay royalties close to 19%, 18.75% for the value of what they extract. presently that rate is 12.5%. royalties on oil and gas drilling already generated between 1.5 and 3 billion a year for the u.s. treasury. that means that they will get more money from this. essentially drilling profit tax, if you will. what do you make of that? the administration has to do steps like this. just sitting by and hoping that gas prices go down is not going to work. we re in the spring. we haven t hit the summer.
expect to hear comments like this one. during this pandemic, during the war in ukraine, all of this instability that this be a moment in which large corporations continue to enjoy huge profits. i think the american people, based on polling i ve seen, have had enough. cheryl: which poll is he talking about? senator lindsey graham says the blame is misguided. listen. the idea of wind fall profit tax in middle of this, would be a disaster. we re trying to get our economy back, what i would say is at the best cause for inflation lies in the policy choices of this administration. cheryl: well, the american petroleum institute previously stated there are many factors behind rising energy cost from geopolitics, supply chain, policy uncertainty from washington. if bernie sanders wants to look at a poll, look at inflation, where is inflation coming from,