Energy

Ending Big Oil Subsidies and Investing in Energy Independence

Posted by on January 17, 2007 at 01:40 PM

The last item on the 100 Hours Agenda? Rolling back multi-million dollar subsidies the GOP-controlled Congress awarded to Big Oil and investing in energy independence.

From the LA Times:

When oil company executives came before the Republican-controlled Congress in 2005 to defend their record profits amid high gasoline prices, they were spared the indignity of being sworn in under bright TV lights, as the tobacco chiefs had been a decade earlier.

But with Democrats in charge, perhaps no industry will find the new Congress less hospitable than the oil industry.

That will be underscored Thursday when the House is expected to approve a bill that would repeal billions of dollars in oil industry tax breaks passed by the GOP-controlled Congress.

The measure would raise about $14 billion over 10 years by repealing the tax breaks and by closing a loophole that allowed royalty-free offshore oil leases. The money would be used to promote energy conservation and develop alternative fuels.

Now, just for fun, watch Big Oil try and play "poor me". Someone might need to call the WAAAmbluence:

"This measure is purely political with the goal of punishing an industry that has low favorability on Capitol Hill," said Barry Russell, president of the Independent Petroleum Assn. of America.

Yes. Poor Big Oil. Nobody likes you. Everybody hates you. Guess you'll just eat worms - maybe gourmet worms with those record profits ($97 billion) you made last year while gas prices sky-rocketed?

In the meantime, the majority of Americans (who recognize a handout when they see one), will smile as the new Democratic Congress takes away your ridiculous subsidies and instead invests in clean, renewable, and alternative energy resources, promotes new emerging energy technologies and develops greater efficiency.

Check the facts
and read the whole bill, here.

Comments (16) «

IMPEACH CHENEY FIRST!
Investigate why gas prices dropped so much just before the election. Why was that? Politics?

Why all the spikes. Prices are fast to go up, but slow to come down. It's very fishy.

I think they were afraid of Pelosi and Democrats.

1
Power_of_Equality on January 17, 2007 at 02:30 PM

unfourtunately, we are not discussing and changing the real problem here. we allow a guy like gwb to declare himself king, give away the country and all assets to his ceo friends and supporters, start an illegal war (as called by the u.n.)and put our sons and daughters at risk of life and limb, then not support them when they get home(cut funding of v.a.benefits), give the richest of the rich tax benefits while jobs are sent to mexico and china, allow what jobs are left here to pay lower wages and no benefits, and then state if americans won't do the jobs, we'll find someone else that will do them. to all of these and more, i say to the bush admin. and friends, kiss my ass......

2
andhow on January 17, 2007 at 03:24 PM

i'm sorry nancy pelosi, i say impeach bush and company.
it's no time to play games. our country has been set back 50 years or more. the world hates the americans, who always have been the most sympathetic and generous people. we've most always come to the aid of suffering people. that has changed with this president. give the rich more, while take what you can from the working class and poor.
bush is going to give us more of the same old shit for the next two years, feather his own nest, and then go back to texas and laugh at us fools.
he is hands down the most dishonest, greedy, and deceitfull guy that ever sat in the whitehouse.
don't let this continue. for our sake. our children and grandchildrens sake.
please, i beg you to vote for impeachment.

3
andhow on January 17, 2007 at 03:32 PM

If you have not called your Representative yet, do it NOW!!!


"Tomorrow, the new House leaders will take on our Big Oil energy policy. They will take a long overdue first step toward real, sustainable energy independence. And the best part: it won't cost us a dime. Instead, the House plans to pay for it by reversing the $14 billion handout that previous Congresses lavished on Big Oil.

But taking on Big Oil -- and Dick Cheney -- won't be easy. We need a massive vote in the House tomorrow to gain momentum going into the Senate. For that we need your help.

Act now. Contact your representative before tomorrow's vote and urge him/her to pass the CLEAN Energy Act, to take back the $14 billion giveaway to Big Oil and invest it in renewable power.

That's right. The previous conservative Congress of Tom DeLay decided that we weren't gouged at the pump enough and that Big Oil's record profits were insufficient. So, they took $14 billion of our money and funneled it to their political patrons in the oil and gas industry.

But here comes change: tomorrow's legislation will take back the Big Oil handouts and invest it in a brand new renewable energy fund. What can $14 billion potentially do? Power 4.2 million homes with wind energy. Create 29,000 jobs in the solar industry. Or fund incentives to help 5.6 million Americans purchase hybrid cars.

But those oily CEOs won't give up easily. They want every billion they can get their hands on. They're spending hundreds of millions to clean up their public image and pressure Congress to kill clean energy legislation -- putting their profits ahead of our environment, our economy and our security.

We need your voice to rise above theirs. Contact your representative today -- before tomorrow's vote -- and urge him/her to pass the CLEAN Energy Act, and put Big Oil's ill-gotten gains into a clean energy future.

The CLEAN Energy Act is only a down payment on complete energy independence. We have much more work to do to realize the full vision of our Apollo Alliance program, which would create three million clean energy jobs and kick the oil habit for good.

But today, you can lay the groundwork for a clean energy future. Tell your representative to stand up to Big Oil, change the direction of our energy policy, and pass the CLEAN Energy Act.

Your efforts count. Already, the House has started to change the direction of our country by raising the minimum wage, requiring Medicare to negotiate for lower drug prices, and passing new ethics rules that ban gifts and junkets paid for by lobbyists. Tomorrow, with your support, we will make another change in course, and start down the path to a clean energy future.

4
PamB on January 17, 2007 at 05:06 PM

Stop with the 100 hour mission that doesn't include anything about our Veterans.

I will repeat what I think the Democrats should do. Introduce legislation that increases the money allocated to the Veterans Administration by 10 fold. They should also fully fund Tramatic Brain Injury now. Bring Harry Reid's Veterans Concurrent Reciept bill to the floor for a vote now. If this President thinks he can send more troops over to Iraq, then the consequences are increase funding for the VA. This idea will do two things. One, help all veterans. Second, politically the Democrats will have the Veteran Community as their base. Oh yeah, one more thing, it will show the American people who really "Supports OUR Troops".

5
IraqWarVeteran on January 17, 2007 at 06:24 PM

amen IWV....
bush tried to talk like a dem when he was running for office. no child left behind, no nation building, increase spending for vets, increase spending for hydrogen fuel research.
so far, he's cut spending for every one of these items, whilst giving tax cuts for the rich, pay increases for corporate ceo's. halliburton gets a free hand in iraq with no oversite. farmers in the bible belt, that supported the republicans without question, had subsidies for family farms cut.
i hate to say i told you so, but.....
the republican 109th congress screwed the working folks, and the poorest of the poor, and then thumbed their noses at us.
as my great grandad said, i'll take the crookedest democrat you can find over the slickest republican ever. at least the little guy will get a piece of the pie.
it's been proven more than once, the trickle down theory is better for the rich than all of the citizens.

6
andhow on January 17, 2007 at 08:05 PM

Hey, Detroit!
Where's my ethanol/electric hybrid?

7
pee-wee on January 17, 2007 at 10:11 PM

Nothing will happed to big Oil. They made their money and are living off the profits, while the middle and lower class, will again pay high prices this summer (2007). We need to have the fat cats give their profits back. That will happen when hell or this earth freezes over.

8
JoeB on January 18, 2007 at 06:24 AM

Stop with the 100 hour mission that doesn't include anything about our Veterans.


You must understand---that until this Iraqi occupation is ended, there are no funds for anything! That $250 MILLION EVERY SINGLE DAY being spent on this madness, would pay for a LOT of other things, including Veterans.

Other bills like the Energy one, which gives favorable tax cuts to Oil companies (did you see highest profits in history last year by Mobil, Exxon, etc?), will then make them pay their fair share.

It takes MONEY to pay for things like better Veteran benefits, and until we free up money, we cannot do it.

9
PamB on January 18, 2007 at 09:00 AM

PamB;

I understand what your saying, but with Pelosi's "Pay as you go" plan, this Congress can afford to increase Veterans Administration Benefits by charging the American Taxpayer. Over 50 million people voted for George W. Bush twice. What comes with voting for him is the WAR ON IRAQ. Now the voter must understand that their are consequences for voting that way. To include paying for our injured combat veterans. So the taxpayer has to pay, who cares, are the taxpayers unamerican? Do they support the troops?

Screw the oil companies right now, screw the education interest bill right now. Lets take care of our Veterans now. 3rd ID, and 10th Mountain have already begun sending more troops into this war for the escalation. Hopefully the Democrats will be pro-active and request more funding for the Veterans Adminstration since more servicemembers are now going to need the VA due to this escalation.

10
IraqWarVeteran on January 18, 2007 at 10:10 AM

My only question is, why didn't this happen years ago? Both Republicans and Democrats should have seen this coming back in the 1990s, or even earlier. But that's water under the bridge, I suppose, so at the very least, it's a good first step that is long overdue, IMO.

11
hiddenboston on January 19, 2007 at 08:39 AM

The USA have to do more Investions in Research, Development and Using of Alternative-Energies-Technologies, Fusion-Energies-Technologies and Nuclear-Energies-Technologies !
The USA have to do develop, produce and use new more Alternative-Energies-Technologies, Waterpower, Hydrogenfuels and Bio-Technologies, Gen-Technologies and Nano-Technologies Systems for produce Hydrogenfuels, Hydrogen-Burning-Cells-Technologies,
Hydrogen-Gas-Cells-Technologies, Hydrogenpowerstations, Hydrogenpowerplants, Solarenergy, Australian Solartowers, Windpower, Oceanpower, Biomass Energies, Biomasspowerstations, Biomasspowerplants and Biomassfuels !
The USA have to do develop, produce and use Fusionenergies-Technologies, really sure Subterranean Underground Fusionpowerstations, Fusionpowerplants, the USA develop and use Fusionractors that use Hydrogen, Radium, Radeon, Caesium for fusion into Uranium, Uran and produce huge Energies and the Waste can re-use in normal Nuclearractors for produce huge Energies and this Waste can re-use again in Fusionractors !
The USA have to do must develop and use new really sure Subterranean Underground Nuclearpowerstations, Nuclearpowerplants and Technologies for re-change the Nuclearwaste, Radium, Radeon, Caesium into Nuclearfuels, Uranium, Uran by Accumulation of Proton, Accumulation of Protons, Proton Storage, Protons Storage, Actinide, Transuransic and re-use in the Nuclearpowerstations, Nuclearpowerplants and new Technologies for Clean, Controlle and Protect the Environment !

12
BRYAN_ALAN_JOHNSON on January 19, 2007 at 02:19 PM

USA, EU, RUSSIA, CHINA, JAPAN, CANADA, AUSTRALIA and INDIA have to do more Investions in Research, Development and Using of Alternative-Energies-Technologies, Fusion-Energies-Technologies and Nuclear-Energies-Technologies !
USA, EU, RUSSIA, CHINA, JAPAN, CANADA, AUSTRALIA and INDIA have to do develop, produce and use new more Alternative-Energies-Technologies, Waterpower, Hydrogenfuels and Bio-Technologies, Gen-Technologies and Nano-Technologies Systems for produce Hydrogenfuels, Hydrogen-Burning-Cells-Technologies, Hydrogen-Gas-Cells-Technologies,
Hydrogenpowerstations, Hydrogenpowerplants, Solarenergy, Australian Solartowers, Windpower, Oceanpower, Biomass Energies, Biomasspowerstations, Biomasspowerplants and Biomassfuels !
USA, EU, RUSSIA, CHINA, JAPAN, CANADA, AUSTRALIA and INDIA have to do must develop and use new really sure Subterranean Underground Nuclearpowerstations, Nuclearpowerplants and Technologies for re-change the Nuclearwaste, Radium, Radeon, Caesium, Hydrogen into
Nuclearfuels, Uranium, Uran by Accumulation of Proton, Accumulation of Protons, Proton Storage, Protons Storage, Actinide, Transuransic and re-use in the Nuclearpowerstations, Nuclearpowerplants and USA, EU, RUSSIA, CHINA, JAPAN, CANADA, AUSTRALIA and INDIA have to do develop, produce and use Fusionenergies-Technologies, really sure Subterranean Underground Fusionpowerstations, Fusionpowerplants, USA, EU, RUSSIA, CHINA, JAPAN, CANADA, AUSTRALIA and INDIA develop and use Fusionractors that use Hydrogen, Radium, Radeon, Caesium for fusion into Uranium, Uran and produce huge Energies and the Waste, Uranium, Uran can re-use in normal Nuclearractors for produce huge Energies and this Waste, Radium, Radeon, Caesium, Hydrogen can re-use again in Fusionractors and new Technologies for Clean, Controlle and Protect the Environment or we take the Out of Energy !

Writing Errors in First Verson of my BLOG this rewriting of my BLOG

13
BRYAN_ALAN_JOHNSON on January 20, 2007 at 05:33 AM

USA have to do more Investions in Research and Development the Alternative-Energies-Technologies, Fusion-Energies-Technologies and Nuclear-Energies-Technologies, but the Government, Politcal Parties and Industria doing more and too more in Money Investions into BUYING OIL, NATURAL GAS and COAL !
But Government, Politcal Parties and Industria doing blocking the Research and Development in the Alternative-Energies-Technologies, Fusion-Energies-Technologies and Nuclear-Energies-Technologies in the USA and over all in the World, CANADA, AUSTRALIA, JAPAN, FRANCE, UK and EUROPEAN !

14
BRYAN_ALAN_JOHNSON on January 21, 2007 at 08:07 AM

All they have to do is to turn on the thousands of oil pumps that are sitting idle in NE, KS, OK, TX, and CA. There is more than enough oil there to carry us for a very, very long time. Those wells are not dry. Those pumps are sitting there oiled up and ready to go.

In addition there are thousands of wells that have oil, but have been capped off. Just to raise the prices of oil and put more billions into the hands of the Republicans and their supporters.

15
JustThinking on January 22, 2007 at 09:41 PM

Industrial Hemp production will be vitally important in development of clean, inexpensive biofuels. Anyone who cares about the environment or national security should educate themselves to the facts about Hemp and get involved in bringing this important crop -- which is grown in many other industrialized nations -- to the farmers of America.

16
MJ777 on January 24, 2007 at 12:59 PM


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