CA: Windfall Oil Profits Bill Advances  The California Assembly
is moving forward a bill to tax the windfall profits of the oil
industry, as gas prices surge past $3 across the country. The
proposal, which applies a 2% tax on oil company profits over $10
million, would fund prescription drug assistance. The bill's
targets -- oil companies -- are unpopular enough that President
Bush is calling for investigations into price gouging in the
face of mounting criticism. Frank Russo, with California
Progress Report, offers some more information, including what
Governor Schwarzenegger is doing about excessive gas prices.