Senate Democrats unveil new energy tax plan
Democrats in the U.S. Senate on Wednesday unveiled a new energy package that would revoke $17 billion in tax breaks extended to big oil companies like Exxon Mobil Corp and slap a 25 percent windfall profits tax on firms that don’t invest in new energy sources.
The oil companies are making billions in profits every year and we’ve been giving them a tax break. I didn’t understand it last year, or the year before, or the year before that. I don’t understand it now. Some politician is going to argue that they need the money for petroleum exploration, bribes to politicians in the form of campaign contributions, developing new energy sources, and so on. Let them plow some of their obscene profits back in to their company instead of expecting a handout.
Even if they developed new energy sources, does anyone over the age of 8 really think that they would be made available to the general public so long as the oil companies can keep gouging us and raking in the money?
A solution I could support would be to take that 25 percent windfall profits tax and use that as low interest loans to startups who are really interested in making the U.S. energy independent. This would include not only power generation but also transportation development. Or how about tax credits to people who install solar or wind systems in their home?
The Consumer-First Energy Act — assembled by Senate Majority Leader Harry Reid and other key Democrats — would also stop the Energy Department from filling the Strategic Petroleum Reserve until crude oil prices average $75 a barrel or less for 90 days.
I’m not too sure about this provision. The Strategic Petroleum Reserve is the country’s emergency energy bank account.
The bill would have to pass the Senate and be approved by the U.S. House of Representatives and White House before becoming law.
Big oil doesn’t need to worry; this bill is never going to get through the White House. GW is bought and paid for.
In the future please substitute innocuous terms for the more descriptive words in your correspondence. For Drugs please use the term Mexican Food and for Hookers a substitution of the phrase Evening’s Entertainment should be sufficiently innocent while conveying the underlying meaning.
Thank you for your understanding.
This matches my experience almost exactly:
Still, some travelers have returned to tell their tales. The most frequent occurrence reported by those who have survived the Kansas Rectangle is extreme disorientation and an unsettling perception of time distortion.
Boulder, CO resident Ned Frome entered the Rectangle in 2005 while en route to visiting family in St. Louis.
“I had been driving for hours, but it was as though I hadn’t moved at all,” Frome said. “I had no idea which direction I was going in. No matter where I looked, everything was exactly the same and before long, normal navigation was almost impossible.”
“I’ll never go in there again,” Frome added with a shudder. “I felt like I was going insane.”
If you had bet against me during round two, you’d have cleaned up. Yes, I went 0 for 4. The Pens were much better than I gave them credit for, I should have listened to my reservations about the Habs/Flyers series, I really over estimated the Avs, and I was wearing my fanboy hat when I picked the Sharks over Dallas.
This is my worst post season for predictions in a long time. I’m now at 5 for 12 for a 41.6 % accuracy rate. I could go become a professional psychic with numbers like that.
I’ll take Pittsburg over Philly in the east. The Pens dispatched the Rangers with little problem and should do the same with the Flyers.
Out west it’s a crap shoot. Dallas has a better goalie, I think the Wings have a better overall team. They’ve also had more rest. I’ll hold my nose and pick Dallas. I’m not rooting for them, but I’m picking them.