House energy bill: Billions to big oil, little to curb use
"This bill is going to go through lickety-split," said Sen. Ron Wyden, D-Ore., though he denounced it as a collection of giveaways to cash-rich energy companies that would fail to curb the nation's thirst for imported oil.
"This bill is packed with royalty relief, tax breaks, loan guarantees for the wealthiest energy companies in America even as they are reporting the largest quarterly profits of any corporation in the history of the United States," complained Rep. Edward Markey, D-Mass
A provision that had passed the Senate to require the president to find ways to reduce U.S. oil demand by 1 million barrels a year by 2025 was abandoned because of strong opposition from House Republicans and the administration.
OPEN LETTER TO THE SPEAKER OF THE HOUSE:
$1.5 Billion Boondoggle for Oil Industry Was Sneaked into Energy Conference Report
So nice to see the congresscritters all making nice and cooperating to help out the poor mutlinational oil companies with heaps of corporate welfare; it could possibly get tough on them in the next decade or so as we use more and more oil to fight wars to gain control of whatever oil is left.
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