Kerry to Frist: Let’s Help Consumers and Invest in Real Energy Solutions
by Pamela LeaveyToday, responding to the rising gas prices and the republican quick fix offered today which includes drilling in ANWR and “$100 rebate checks” for some taxpayers, John Kerry sent a letter to Senate Major Leader Bill Frist, telling him, “Let’s help consumers and invest in real energy solutions.”
John Kerry has introduced legislation to repeal tax giveaways for oil companies and he believes the $28 billion in savings should be used to help consumers and develop renewable energy sources.
Additionally, today Kerry introduced legislation to repeal the new manufacturing deduction giveaways for oil and gas companies. Without Congressional action, this giveaway will triple by 2010. According to the New York Times, ConocoPhillips – which made $13.5 billion in 2005 – saved $106 million due to the manufacturing deduction giveaway last year alone.
Kerry’s letter to Frist is as follows and further information on Kerry’s legislation, is available here and here.
April 27, 2006
Majority Leader William H. Frist
Washington, DC 20510Dear Majority Leader Frist:
With gas prices climbing toward $3 a gallon and extraordinarily high oil company profits released yet again this week it is time to repeal tax breaks for the oil and gas industry. This week President Bush stated: “Record oil prices and large cash flows also mean that Congress has got to understand that these energy companies don’t need unnecessary tax breaks like the write-offs of certain geological and geophysical expenditures, or the use of taxpayers’ money to subsidize energy companies’ research into deep water drilling.” President Bush went on to explain that he’s “looking forward to Congress to take about $2 billion of these tax breaks out of the budget over a 10-year period of time.”
The President is not alone in supporting the repeal. Even the oil companies’ senior executives have said they don’t need the tax breaks. In their November 2005 testimony before Congress, five top oilmen — representing companies including Exxon Mobil Corp., Chevron Corp., ConocoPhillips, Shell Oil Co. and BP America Inc. — said that their companies would be little affected if tax breaks for oil and natural gas in the recent energy bill were repealed.
This week I introduced legislation to repeal the tax breaks, close corporate loopholes for the oil industry and eliminate the new manufacturing deduction for oil and gas companies. Instead of providing tax breaks to oil companies my bills – the Energy Fairness for America Act and the Restore a Rational Tax Rate on Petroleum Production Act of 2006 – will save at least $28 billion for tax payers. The money will then go to provide relief to consumers suffering from higher energy costs as well as investments in efficiency and renewable technologies that can benefit all Americans.
It is my hope that we can work together to pass my legislation. The President is right — taxpayers don’t need to be paying for these expenses on behalf of big oil.
Thank you for your attention to this matter.
Sincerely,
John F. Kerry
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How many ways and times are these folks going to tie ANWR drilling to an important bill that needs to be passed?
News story tonight about a metro Denver Conoco station owner who has had to stop selling gas. The cost of a truckload has gone from $12,000 to $26,000. He just doesn’t have the money and has no more credit to use. The interview also exposed the fact that gas stations don’t make that much on the gas. Their profit is really on the stuff they sell out of the fast food marts. (Like the junk food at the movie). He had checked the video tape and counted 800 cars going through the station and leaving when they figured out he had no gas. Guess what region of the world the station owner was clearly born in?
I have this mental image of my mind breaking trying to grasp all this blatant greed for money, power, sex, and absence of virtues and morals. From the holier morals and values than thou party.
Republicans, thy name is insanity.
Expanding on the middle eastern gas station owner. The way I am seeing this can only be described as poetic INjustice.
Here’s someone who came from the region of the world we have done more to F**K with politically and militarily than anywhere. Over oil. He comes here to make a new life, has been able to buy a franchise gas station and keep it going – until the gas companies screw him, again.
The worst part of all the madness and insanity is how much I feel like doing violence to someone. I am normally happily as non violent a person as you can be. I resent living this way and that we have essentially fostered the anger mindset in so many people around the world.
HOW did WE come to this? Forget anything coming out of my ears, I’m feeling like I may eventually vaporize from the aftermath of deception.
Chill pills and cold shower next.