American energy policy – written by Beavis and Butthead.
Good Golly. Miss Molly has it right, again:
The energy bill just passed by the House is a classic example of frittering away precious time and resources by doing exactly nothing that needs to be done about energy. The bill gives $8.1 billion in new tax breaks to the oil companies, which are already swimming in cash.
ExxonMobil’s profits are up 44 percent, Royal Dutch/Shell up 42 percent, etc. According to the business pages, the biggest problem oil executives face is what to do with all their cash. So why give more tax breaks to the oil companies? Makes as much sense as anything else in this energy bill. Nothing about conservation, higher fuel efficiency standards or putting money into renewable energy sources. It’s so stupid, it’s painful.
I’m too tired to think today, so I’m leaving the thinking to Molly Ivins.