Once more our Congress is working on a new energy package. One faction wants to give handouts to the major oil companies for incentives for them to explore and drill new oil wells. The other wants to remove billions of tax incentives plus plus increase taxes on windfall profits unless they invest the money into alternate energy projects. Care to guess which party backs each idea?
With oil at an all time high, every day seems to set a new record for oil prices. “Republicans want more drilling, more consumption and more tax giveaways for the big oil companies,” Sen. Debbie Stabenow of Michigan said. “Democrats say that those are exactly the policies that got us into this mess to begin with.” The Democratic proposals for changing energy policy call for – Ending billions of dollars in tax breaks for big oil companies, and Forcing the oil companies to do their part by investing some of their profits in clean and affordable alternative energy. “Now it is a crisis for every American family,” the Michigan senator said in the Democrats’ weekly radio address. She called the current energy situation “a crisis that doesn’t just affect us at the pump, but also raises the prices of groceries, increases our home heating bills and squeezes small businesses trying to keep their heads above water.”
With the close ties that the White House has to the big oil companies do not look for anything to be done to help alleviate the situation anytime soon.