Posted by
BLOGASSAULT on Monday, June 25, 2007 10:25:00 AM
Senators are trying to hammer out a feasible energy bill, but those evil republicans keep getting in the way.
But this
New York times editorialist is just not happy with those republicans.
There were, of course, disappointments. A threatened Republican filibuster killed an amendment requiring the nation’s utilities to produce 15 percent of their electricity from wind and other renewable energy sources. Surrendering to the whiny protests of an industry that is already favorably taxed and awash in profits, the Republicans also blocked a $32 billion package which would have raised taxes on oil and gas companies and poured the proceeds into alternative fuels.
Of course, you can tax the heck out of the oil companies all you like, but who really ends up paying for that tax? You and me at the pump. They are not going to shed their profits to pay for this tax. And those big profits are helping those (me included) who own stock in their companies. I get paid. Call it a rebate at the pump if you like. Tax them, and the shares drop, and all of us share holders pay twice, once at the pump and secondly in our shares.
Many scientists believe that the worst consequences of global warming can be avoided only if emissions are reduced by 50 percent or more by mid-century — a target that is unlikely to be reached unless the government places a stiff price on carbon that, in turn, drives major new investments in cleaner technologies.
And then lets tax carbon. We just can't seem to get enough taxes from this writer. There has got to be a better way to reduce are dependency on oil and clean up are environment without taxing us to death. I don't have the answer, but we certainly can find a way that can balance a clean environment with a stable economy.