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H.R. 5351, The Renewable Energy and Energy Conservation Tax Act of 2008
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The Pickens Plan
Politically conservative oil prospector T. Boone Pickens is making a big (ahem . . .) splash with his proposal to generate 20 percent of the country’s electricity by building wind farms from the Canadian border to West Texas. In a public statemen...URL: http://www.washingtonwatch.com/blog/2008/07/09/the-pickens-plan/
Trackback URL: http://www.washingtonwatch.com/bills/trackback/110_HR_5351.html
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Visitor Comments
Cam
Terrific Idea, keep the renewable energy and energy conservation incentives moving.
Morganm Mghee
The $18B is in the form of subsidies being paid by taxpayers to the oil companies. That means on top of the $40 Billion in PROFITS exxon made last year, which came from record per gallon gas prices, they are receiving our tax dollars! that $18 Billion is the amount over 10 years. These private companies have enjoyed special status and incentives for the last 10 years, their profits prove the subsidies are no longer neccessary and perverse.
Waiting to incorporate new, efficient cleaner technologies will only cost more the longer we take to begin. The sooner we find and perfect another way, the sooner we won't have to worry about the cost of oil/gas. These companies have had the last 10 years to plan and prepare for this day, they chose instead to stay the course and reap the benefits of cash. It is time to say thank you to the American people, pull their lobbyists and the flow of money on this issue and let the subsidies lapse. Morganmghee.spaces.live.com
Jason
This is just government taking more taxes from big buisness. What has government done for the average person? Governemnt should get out of the way a let buissness do what it does. Exxon paid 1.45 trillion in taxes and had made 650 billion in profit since the early 80's. At least Exxon has given me reliable source of energy to get me to work and heat my house. Government on the other hand keeps taking what I make and own. However, this is classic liberalism/socialism/communisim = wealth redistribution = higher unemployment = government regulation = less freedom. We are on the road to serfdom.....
steve
get government out of big business...fine...then lets end the subsidies...that's government involvement
Liz
Go Steve! I agree. By the way, I have an even more reliable source of energy for my house--captured greenhouse gases. And I use my own two feet to get to work. A true miracle!
Vickie
PLEASE DO NOT SUPPORT THIS BILL UNLESS THE "CLEAN COAL" PROVISIONS ARE REMOVED! There is no such thing as "clean coal;" take it from someone who lives in West Virginia, where mountains are blown up, streams poisoned, and billions of gallons of toxic sludge sit in impoundments.
Paula
Has ANYONE considered that increased taxes on gas companies computes as HIGHER PRICES AT THE PUMP!!??! Not paying enough already? Are you serious? I lived in CA for 15 years...they would vote for more taxes on their gasoline...then they have the audacity to complain that they are paying one to two dollars more per gallon than the rest of the country.
I have heard on the radio that this bill also exempts Citgo from incurring this tax. (That's Dictator Hugo Chavez's money cow in America, by the way.)
I have not found the specific text in the bill yet, but will continue to dig. WAKE UP PEOPLE...ANYONE THINKING THEY NEED MORE TAXES SHOULD MOVE TO EUROPE!
Or maybe follow Liz to a third world country...captured greenhouse gases = cow manure burning on the open firepit in our houses for warmth...and walkiing to work? Not sure that would work in America. Miraculous indeed.
Marianne
Hang on to your purses, or just through them out. Subsidies do not work. Check out the milk subsidies, and guess who profits, the big mega farms in Holland. Just like this one is going to profit Chavez. My Democratic Senator claims this is nonpartisan. Check the vote
Wayne
We either continue to fund the fledgling biodiesel industry or we stay dependent on foreign oil. The oil shieks and the large oil companies will lobby hard against this one.
Jim
Spot on Wayne.
I am a biodiesel producer. Algae is coming (we are researching it too) but it is 2 to 3 years off. Algae biodiesel is the "only possible alternative to replace the existing petroluem oil supplies" http://www1.eere.energy.gov/biomass/pdfs/biodiesel_from_algae.pdf
We cannot survive until then without the excise tax credit that provides a somewhat level playing field for competing with "big oil" and their subsidies.
We are not the food price problem. I sell at "rack price" = 71% of what you see at the pump. This equals approximately $3.20/gallon. CBOT price of soybean oil www.cbot.com is .578/lb x 7.69 lb/gallon = $4.45/gallon. Can't make $3 stuff out of $4 stuff.
Give us a chance to give you domestically produced biodegradable fuel, that works in our existing infrastructure and emits 78% less CO2.
Support this bill.
Wendy
I'm looking at replacing my central a/c and furnace this year. I'd like to go with a high SEER but they are much more expensive. Trying to hold off til this gets renewed. Amazing to see that 100% of the republicans voted against the bill - oh yeah, I forgot, per the republicans, man's contribution to Global warming is fiction. Can you see me shaking my head in disbelief? Anyone know if it is passed, will it be retroactive?
go solar
What is wrong with walking to work? I wish I could! What is wrong with Europe? They think we all suck because we can't get our act together! So we pay a little more at the pump... maybe it will inspire people to drive more fuel efficient cars! Personally, I would really like to be able to get some money back for doing a little more for the environment.
Scott
If one reads all the comments below, it only demonstrates what a vast array of morons live in this country. Don't you people understand the Bill? Anyone who has posted a comment on this blog should read the bill, then post a new comment. For about 70 % of you, you should begin your thread with the title - "Yes - I guess I am a moron..."