Energy Bill Tax Title Promises More Pain at the Pump

http://www.heritage.org/Research/EnergyandEnvironment/wm1736.cfm ^

[linuxster]

Taxing successful energy sources and subsidizing unsuccessful ones: That's the essence of Washington's energy policy mistakes during the 1970s and early 1980s. These mistakes are about to be repeated in the tax title to the Senate energy bill. This section would raise taxes by an estimated $21 billion over 10 years--including $13 billion from the oil and natural gas sector--and spend much of it on tax breaks for alternative energy sources like ethanol and wind power. As before, this approach will likely backfire and raise prices while reducing energy security. Overall, this tax title makes an anti-consumer energy bill even worse, and if it reaches the President, he should veto it.

[Chode]

Atlas Puked!!!

[keepitreal]

And the morons yell: “Tax big oil”, while we foot the bill at the pump.

[SteamShovel]

And the morons yell: “Tax big oil”, while we foot the bill at the pump.

It was just a year or so ago when the RATS were holding hearings about why the cost of gasoline was so high.

Hypocrites

[HuntsvilleTxVeteran]

...in the lexicon of the political class, the word
“sacrifice” means that the citizens are supposed to
mail even more of their income to Washington so that
the political class will not have to sacrifice the
pleasure of spending it.

George Will - Newsweek, 2/22/93

[RC2]

Drill for our own oil idiots. They say we only have 200 years of oil left. Look at how far the automobile has come in the last 100 years. Do people really think we will need all that oil in 200 years, or 100 years? You’ll probably be flying by then using nuclear energy. But at least for now we can drill our own oil and stop depending on the Ayyyyrabs.

[Cringing Negativism Network]

Every dollar spent on imported oil, supports a terrorist.

It may not be popular to say. It may even sound liberal. It’s not.

It ain’t liberal to oppose terrorists.

We need to stop importing oil.

Now.

[businessprofessor]

It is not possible under any scenario to stop importing oil. Even if we explore for our own known reserves, we will need to import lots of oil. There is no alternative to oil in the near future. The high price of oil and gasoline is all the incentive that is necessary to develop alternative energy.

[Alberta's Child]

Every dollar spent on imported oil, supports a terrorist. It may not be popular to say. It may even sound liberal. It’s not.

Doesn't sound liberal to me. It does sound silly and ignorant, though. The U.S. could stop importing oil from the Middle East tomorrow and nothing would change at all.

Unless, of course, you think the U.S. should also impose blockades all across the Mediterranean Sea and Indian Ocean, and the Asian land mass to prevent anyone else from importing oil, too.

[RC2]

Does anyone know how much oil we buy and then ship off to other countries? We can be our own worse enemy at times.....or Congress can.

[thackney]

Every dollar spent on imported oil, supports a terrorist.

Really, our biggest source of imported oil is Canada. Is Canada funding terrorists?

Are these guys really part of Al-Qaeda?

[thackney]

Does anyone know how much oil we buy and then ship off to other countries?

Yes, we export about 30,000 Barrels per day, almost all of it to Canada.

U.S. Crude Oil Exports
http://tonto.eia.doe.gov/dnav/pet/hist/mcrexus2m.htm

Crude Oil Exports by Destination
http://tonto.eia.doe.gov/dnav/pet/pet_move_expc_a_EPC0_EEX_mbblpd_m.htm

It is a matter of logistics. Oil produced near the border and shipped to the closest refinery.

As a comparison, we import over 10,100,000 barrels per day.

U.S. Crude Oil Imports
http://tonto.eia.doe.gov/dnav/pet/hist/mcrimus2m.htm

And Canada is the biggest supplier.

U.S. Crude Oil Imports by Country of Origin
http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm