Republican Energy Bill for Oil Companies
Dear editor:
Republicans in the House of Representatives have just passed a sweeping energy bill, and claim that this is a major part of the future solution for rising energy costs. It gives billions in tax breaks to oil and gas industries, and in addition, opens the Alaskan Wildlife Preserve to drilling, supposedly to reduce our dependence on foreign oil. Speaker of the House Dennis Hastert, speaking in front of a gas station in Washington, hailed this bill as a big step forward for America, and accused the Democrats of being responsible for the high prices for gas that exist today. The sad part is that he and his associates expect thinking Americans believe this baloney. The really sad part is that so many citizens do.
The cost of gas has absolutely nothing to do with whether oil comes from imports or from domestic sources, such as our off-shore oil wells. If it did, gas stations would charge one price for domestic fuel and another for imported fuel. The price of oil is determined by supply and demand; which is growing greatly thanks to huge industrial growth in China and India; with available backup stocks; America’s overwhelming trade and budget deficits which have caused a huge drop in the value of the dollar; and most importantly with the trading market for oil which responds to world political conditions, fear, and overwhelmingly….greed. Introducing additional oil from the Alaskan Wildlife would be a drop in the bucket and not change any of those conditions. It would only mean more profits for the oil companies at our expense.
Add to this mix the top to bottom Republican buying of support and financial campaign backing by giving energy companies billions in tax breaks to supposedly encourage oil and gas exploration. It would seem to me that the billions of excess profits being made by these companies at the present time, the need that obviously already exists, the opportunity for more profit, and the cash to do that on their own, would be enough without more tax breaks. Obviously, this bill is just a payoff to them from grateful Republicans who have received financial help in the past and will continue to do so in the future. One hand washes the other.
The only way out of this mire is to cut consumption of gas and oil. How? By using other energy sources and by instituting realistic mileage goals on vehicles. Of course that would mean our leaders passing laws that auto makers and oil companies will fight and beat down. But then again, maybe that’s what the President calls “moral leadership” and “compassionate conservatism.” Morality and compassion for who?
Republicans in the House of Representatives have just passed a sweeping energy bill, and claim that this is a major part of the future solution for rising energy costs. It gives billions in tax breaks to oil and gas industries, and in addition, opens the Alaskan Wildlife Preserve to drilling, supposedly to reduce our dependence on foreign oil. Speaker of the House Dennis Hastert, speaking in front of a gas station in Washington, hailed this bill as a big step forward for America, and accused the Democrats of being responsible for the high prices for gas that exist today. The sad part is that he and his associates expect thinking Americans believe this baloney. The really sad part is that so many citizens do.
The cost of gas has absolutely nothing to do with whether oil comes from imports or from domestic sources, such as our off-shore oil wells. If it did, gas stations would charge one price for domestic fuel and another for imported fuel. The price of oil is determined by supply and demand; which is growing greatly thanks to huge industrial growth in China and India; with available backup stocks; America’s overwhelming trade and budget deficits which have caused a huge drop in the value of the dollar; and most importantly with the trading market for oil which responds to world political conditions, fear, and overwhelmingly….greed. Introducing additional oil from the Alaskan Wildlife would be a drop in the bucket and not change any of those conditions. It would only mean more profits for the oil companies at our expense.
Add to this mix the top to bottom Republican buying of support and financial campaign backing by giving energy companies billions in tax breaks to supposedly encourage oil and gas exploration. It would seem to me that the billions of excess profits being made by these companies at the present time, the need that obviously already exists, the opportunity for more profit, and the cash to do that on their own, would be enough without more tax breaks. Obviously, this bill is just a payoff to them from grateful Republicans who have received financial help in the past and will continue to do so in the future. One hand washes the other.
The only way out of this mire is to cut consumption of gas and oil. How? By using other energy sources and by instituting realistic mileage goals on vehicles. Of course that would mean our leaders passing laws that auto makers and oil companies will fight and beat down. But then again, maybe that’s what the President calls “moral leadership” and “compassionate conservatism.” Morality and compassion for who?
posted by Sam Schoolsky | 8:08 PM
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