The windfall profit tax implemented during the Carter administration reduced domestic oil production by 3%-6% and increased foreign oil imports by 8%-16%. Americans pay $0.18/gal. in federal gasoline tax and on average $0.28/gal. in state gasoline tax. From 1977 to 2004, federal and state governments, in 2005 dollars, collected $2.2 trillion in income taxes from oil companies and taxes at the pump. The oil industry pays 39% in taxes, even after deductions and credits compared to an average of 33% for other industries. In 2005 the Big Three - Exxon Mobil, Chevron, ConocoPhillips - paid more in taxes than the GDP of 150 countries. Ultimately, individuals are the ones really paying taxes and placing additional taxes on corporations simply means that the consumers of oil products will pay more for them. Additional taxes will not reduce the price at the pump. And there is no ready-to-eat microwave solution to the high price of energy. "Government is not a solution to our problem, government is the problem." - Ronald Reagan - LINK to Article Looks like the federal and state governments have been reaping a windfall from the success of oil and gas companies for decades.