Lots of energy buzz in the news, part two

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I'd be remiss, especially after pointing out Democrat hyper-partisanship and dishonesty on energy policy, if I didn't also point out that our hope on the right for changing the 30 years of Democrat obstructionism is - well, disappointing. McCain, from this morning:

Although the GOP presidential candidate didn't address the question of raising taxes on oil companies, he said the companies "absolutely" should return some profits to consumers. "And they should be embarking on research and development that will pay off in reducing our dependence on foreign oil," he said.

"The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is very strong and justifiable emotion about their profits," McCain said.

The issue of oil company profits came up this week in the Senate, where Republicans stopped the Democrats from imposing a tax on windfall profits and taking away billions of dollars in tax breaks in response to the $4-a-gallon price of gas.

In the past McCain has indicated he would consider such a tax proposal, saying he didn't want to see companies making "obscene profits" that distort the market.

McCain would consider windfall profits taxes? Well, he said economics wasn't his strongest subject. Someone in the McCain camp please educate the Senator on the effects of raising corporate taxes on consumer prices, please. Also, I'm very disturbed by this socialist streak he flaunts when it comes to energy policy - all this "profit-sharing" doesn't belong in a country where freedom is revered.

Also, why do our politicians (and much of the population) expect OIL companies to develop alternative energy? Isn't that kind of like expecting Toro to research grass varieties that don't need mowing?

Added to his continued ANWR = Grand Canyon theme, McCain's ideas on energy are a tragic embarrassment to the Republican Party.

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This page contains a single entry by LB published on June 11, 2008 9:45 PM.

The Senate can't even run a restaurant - why do we trust them with the federal budget? was the previous entry in this blog.

Humvee replacements is the next entry in this blog.

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