The following details are the reactions to the huge increases in oil company pro

When the top U.S. oil companies announced huge increases in profits this week, many consumer advocates cried foul. At a time when American motorists are paying record-level prices for gasoline, some in the U.S. Congress think the oil company profits should be scrutinized closely. The U.S. Senate Finance Committee is seeking tax return information on top U.S. oil companies from the Internal Revenue Service and some politicians are calling for a windfall profits tax. [29]Of course, oil companies oppose such a move, citing similar or even higher profit increases in other industries, such as pharmaceuticals, that have not caused an uproar. [30]Oil industry analysts, however, say a windfall profits tax might be counterproductive. Bob Tippee, editor of Houston-based Oil and Gas Journal, says large oil company profits could benefit consumers in the end.