Friday :: Apr 28, 2006

Bush Isn't Serious About Energy Independence


by Steve

President Bush, expressing his faith this morning in the ability of Big Oil to do the right thing

Want to see the level of Bush’s willingness to get tough with oil companies? Here you go.

Oil companies should reinvest their obscene profits into drilling more, rather than being taxed more, and should build more pipelines and refineries. Sure, and I should lose forty pounds too. But oil companies would rather buy back their stock and buy other oil companies than listen to a failed oil man tell them to drill more, especially when Big Oil knows that both Bush and Cheney would never lift a finger to harm them. Besides, the oil companies have no interest in doing the things Bush is talking about, and both they and he know it.

Oh, and Bush has already concluded, just days after he asked Abu Gonzales to look into the possibility of price gouging, that there is no evidence of price gouging.

It is precisely because Bush won’t require anything of Big Oil that Congress should tax their windfall profits, which are being generated largely from the intentional consequences of Bush’s energy and foreign policies. If Bush was serious about energy independence, he would use the revenue from an excess profits tax, as well as the removal of all Big Oil corporate welfare to fund the new Apollo Initiative so that Big Oil is no longer controlling our energy and foreign policies.

There is a simple Democratic response and fall campaign TV commercial in all of this:

"President Bush and Dick Cheney have faith in the oil companies to solve high gas prices and global warming. Of course they would, because Big Oil has dictated Bush's foreign, energy and environmental policies. But can you, our children, and our soldiers abroad afford anymore to allow Big Oil to control our government?"

Image courtesy of the AP

Steve :: 12:11 PM :: Comments (20) :: TrackBack (0) :: Digg It!