The Energy Bill

The House continues the tradition of granting Tax breaks to Companies, who currently possess higher revenue volume than ever before, while the fiscal Deficit grows. It also identifies in one manner with the Bush Social Security Privatization Plan in that is not expected to aid or assist in curtailing Oil Consumption or Oil Price, just as Private Accounts are not expected to help Trust Fund solvency. Republicans in D.C. have reversed the Business format, stating 'Pay for what you want now by borrowing the Funds to purchase, and We may or may not give you the services desired in years to come!'

Oil Price is starting to impact economic performance, the Fed Mid-Atlantic Report nonwithstanding. Oil Price topped $55 pb, nonsense when the tight supply consists of reduced refining capacity; something which should suppress Crude prices. Speculation, especially Hedge Fund managers, have distorted natural Market-clearing forces. The House Energy bill exhibits the same style philosophy, where generation of Profits becomes the center of attention, rather than the provision of Product. It resembles a Firetruck watering a lawn to keep it from turning brown, as the House burns!

Republican adoption of Keynesian policy stands as the height of folly. The multiplex of Tax breaks boggles the imagination, it is doubtful that even the IRS could catalogue the exact number. The House Energy bill is over 4,000 pages; is this meant to be a coherent Energy policy? This Author has not even mentioned the fuel additive legal evasion of liability. It requires $2bn for research in how to drill in deeper water? lgl