Former Sen. John Breaux (D-LA) On Obama's Windfall Profits Tax Proposal
MSNBC's Andrea Mitchell: "John Breaux, you are from the oil patch. How do you feel about your candidate talking about a windfall profits tax?"
John Breaux: "Well a windfall profits tax is not going to produce a single barrel of oil. When we had a windfall profits tax back in the 1980s, we produced less energy than before we had the tax. A windfall profits tax may make you feel good as a punitive measure against the energy companies, but until we get the guys and women who produce the energy working with those that consume it, we are never going to solve the problem. A windfall profits tax will produce less energy and not more."