Damn welfare queens. I'm talking of course about "BIG OIL"

[tjwash]

Right on Nancy:

Nancy Pelosi and the House Democrats, are pushing through some great environmental legislation in front of the new Congress. It could be the first step in cutting the obscene amount of sucking at the corporate welfare teat that big oil excels at.

H.R. 6 - Repealing Big Oil Subsidies/Investing in Renewable Fuels

This bill invests in clean, renewable energy and energy efficiency by repealing billions in subsidies given to big oil companies that are raking in record profits. Specifically, the measure ensures oil companies that were awarded the 1998 and 1999 leases for drilling paid their fair share in royalties. It also closes loopholes and ends giveaways in the tax code for Big Oil. Finally, the bill creates a Strategic Renewable Energy Reserve to invest in clean, renewable energy resources, promoting new emerging technologies, developing greater efficiency and improving energy conservation.

I am also pleased that if it becomes law, it would also channel as much as $14 billion (over the next decade) into renewable energy sources.

I'm starting to like Pelosi's Congress. So far they have passed legislation to expand stem cell research, cut the interest rate on student loans, and enacted the recommendations of the 9/11 Commission. They have also increased the minimum wage. Now if we can see the entire Bush Administration put on trial for war crimes, and for starting an illegal oil war under false pretenses, I may actually start to feel giddy. Following the aforementioned by repossessing every penny that Cheney, Halliburton, and the rest of his DOD cronies and their ilk have profited from Iraq, may even make me feel as if we are emerging from a seven year long nightmare.



Here's a great article from grist.com:

Energizer Money

Enviros delighted with House Democrats' energy bill
By Amanda Griscom Little

17 Jan 2007

"I can't find anything wrong with it. Really, there is no catch. It's all good."

Let the record show that these contented words were spoken by an environmentalist -- Jim Presswood, a top lobbyist for the Natural Resources Defense Council to be exact. He's talking about the CLEAN Energy Act of 2007, introduced on Friday, which would repeal billions in tax breaks for the oil and gas industry and steer the resulting funds toward energy efficiency and renewable energy.

It's jarring to hear such a positive assessment from a member of the green community, which for six years has been consistently expressing disappointment and outrage over energy and environmental proposals in Washington, D.C. And Presswood isn't the only one kvelling over the legislation. At a press conference enviros held on the bill yesterday, participants were nearly in conniptions of excitement, and nary a quibble could be heard.

"It's a launch pad for our nation's new energy system ... a profound signal of change," said Jeff Rickert, senior vice president of the Apollo Alliance. "This is truly a stunning reversal from last year ... a huge opportunity for America," said Anna Aurilio, an environmental lobbyist for the U.S. Public Interest Research Group. After the press conference, more than 70 enviros descended en masse on Capitol Hill to push the bill. Said Aurilio, "We've got all hands on deck."

Gene Karpinski, president of the League of Conservation Voters, views the bill as game-changing for environmentalists. "It's fun to finally be on offense, promoting a new energy future, after years of playing defense to stop Big Oil," he told Muckraker.

I agree. It's nice to actually have something legislatively to fight for, instead of against, for a change.

[jelly]

1. So glad they are devoting attention to this critical issue.

I am not sure what to think about the long-term chances of the bill becoming law, however. I fear for its political viability more than any of the legislation that has been addressed by the House this year, which is a shame, because I think it is one of the most important of the bunch.

[tjwash]

2. I'm starting to believe that the firing of the U.S. Attorneys plays into all this.

I really think that Bush / Gonzo U.S Attorney massacre is being done to derail the Democratic agenda. Follow the money trail, and you will see billions in subsidies that big oil will lose out on. If bushco wanted to prevent that, they could use these new appointees to start throwing everything that they have at Nancy Pelosi and the Dems, in hopes that just enough of it will stick to impede the legislative progress.

Like everything else, it's all about "the Benjamins".

[tjwash]

3. Edited to add a couple of extra things.

nt