Moving money from Big Oil to the Big Future
This could be a huge development for America's energy future and a large step in the right direction for renewable energy projects across the West:
House Democrats in the first weeks of the new Congress plan to establish a dedicated fund to promote renewable energy and conservation, using money from oil companies.
That's only one legislative hit the oil industry is expected to take next year as a Congress run by Democrats is likely to show little sympathy to the cash-rich, high-profile business.
Whether the issue is rolling back tax breaks - some approved by Congress only 18 months ago - pushing for more use of ethanol and other biofuels instead of gasoline, or investigations into shortfalls in royalty payments to the government, oil industry lobbyists will spend most of their time playing defense.
Details of a renewable fuels fund have yet to be worked out.
Nonetheless, it's one of the initiatives the House will take up during its first 100 hours in session in January, according to aides to Speaker-elect Nancy Pelosi. At least some of the money - revenue gained by rolling back some tax breaks - will go to a program to support research into making ethanol from sources other than corn.
This article goes into some other length about improperly written lease agreements with oil and gas companies that will end up (if properly modified) to return almost 10 billion dollars to the Federal Government. That's money that can be spend on the future of our country, not the past.
When I read articles like these I think about all the perceptual changes that will start to come about now that the Democrats control both Houses of Congress. When average hard working Americans see the minimum wage increase, see ethics reforms and see their government investing money in the future than we can start to build on the progressive gains made this year out here in the West or anywhere where hard working Americans want a government that works for them.
Your Personal Note:
Ads by Google
(and yes, we know that sometimes they're very, very wrong. Other times, they're right on.)