This is how H.R.6001 would effect us all in both the near and the far term. The house is set to visit this sometime in 2009 and it is a good bill.
About This Legislation:
To rebalance the United States energy portfolio, to increase and utilize the Nation's domestic energy resources and supply, to strengthen energy security and independence, and for other purposes.
Provisions of the bill include:
· Opening the Outer Continental Shelf to responsible energy production, and bringing more oil and natural gas to the American people.
This is all about supply and if we are going to not import oil, propping up less than good governments. We need our own domestic supply.
· Allowing energy development within the Arctic National Wildlife Refuge, which may hold up to 21 billion barrels of oil.
Again this is a supply thing, which we sorely need.
· Allowing new refineries to be built within the United States for the first time in 30 years.
More refineries mean more jobs. Not just to run the refinery but to build them as well supplying the materials needed to build them.
· Supporting the development of Coal-to-Liquids plants.
Also, a good way to supply high-end jobs and making the most out of a resource at the same time.
· Supporting building more nuclear plants, increasing the manufacturing and education base of the industry, and bringing more inexpensive, clean nuclear power onto the electricity grid while reprocessing used fuel for further use.
More jobs, more energy and a good way to return to a viable national economy.
· Providing a three-year production tax credit extension for wind and other renewable energy generation, including solar, efficiency improvements, plug-in hybrid vehicles and befouls.
This makes the purchase affordable to the common person who is really going to pay for all of the above via purchase.
. Investing in Research and Development for the energy needs of tomorrow, including cellulosic ethanol research and further Coal-to-Liquids development.
I think that this iss an excellent long-term idea, which will add jobs for future generations of Americans.
All in all this is a good bill because if creates more jobs that are long term, high wage, and sustainable. Making oil and electric purchase within reach of everyone. Not just a privileged few, not to mention the reemployment of thousands of people.
Your congressman needs to know that they should pass this bill, today!
Main Street U.S.A. Energy Security ActBill # H.R.6001
Original Sponsor:Steve Buyer (R-IN 4th)
Cosponsor Total: 21(last sponsor added 06/11/2008)
21 Republicans
Showing posts with label Oil. Show all posts
Showing posts with label Oil. Show all posts
Saturday, December 13, 2008
Sunday, November 16, 2008
Can You Say “Stick It To The Common Man”?
Consider Senate bill S.2991; currently it is on the list of things the Senate wants to discuss. From the standpoint of being able to afford food, going to the doctor, and getting to work this a a bad bill. While it is upfront in what it is all about, it will increase the cost of living nation wide. Nothing in this bill will assist common folks in their lives. What it does do is force a shift in money from those who are not making ends meet, to large corporations who don’t need it.
The provisions are in the bill are:
(1) Deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof.
This would include all producers of vehicle fuel, as there are no minor energy producers, the minor producers all went out of business in the mid eighties. So no oil company would be given a break for using domestic oil. There is a big oil filed coming in the Dakotas and another one in east Texas. This bill would make domestic crude the same price as foreign crude, hardly an incentive to get us off the OPEC cartel nipple. The result of this provision is the permanent increase in the wholesale cost of crude oil, resulting in an increase at the pump. Not just for private vehicles but for all vehicles and you will pay more for food, doctor office visits, going to work and so on.
(2) Conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit.
This sounds like a good idea but there is a rock in this provision. With this provision in place Congress could make foreign oil exploration a higher cost that domestic oil exploration. Good idea, right? Wrong this provision will shut down domestic oil exploration while doing away with competition.
(3) Impose a windfall profits tax on major integrated oil.
A tax for selling a comedy? If we don’t want the oil companies to make record profits then we should have the freedom to buy less. All this does is increase the price of the pump, which affects the price of everything else, and then increases the cost of living nation wide. Oil companies will pass this tax along to the consumer because it becomes a part of the cost of doing business.
(4) Establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming.
Another layer of government imposed upon the American people, staffed with persons that cannot get a job doing anything else. If we want to be energery independent then lower the taxes on domestic crude oil an increase taxes on foreign crude oil.
Other provisions:
Includes the Petroleum Consumer Price Gouging Protection Act, which would make price gouging a federal crime, punishable by the Federal Trade Commission (FTC).
No retailer should be told the Congress of the United States of America, how much they can charge for what they sell. Doing so ensures that the price at the pump, even for alternative fuels, will always be high. This simply disallows for competition and increases the cost of living for every one. Poorer people get the shaft, again.
Suspending of filling the Strategic Petroleum Reserve until December 31, 2008.
This reserve needs to be a full as possible in order for our military to have the fuel that the need, to the job that they do. This provision, in fact, undercuts our national security and provides no relief at the pump for anyone.
Incorporated into this legislation is the No Oil Producing and Exporting Cartels Act of 2008 or NOPEC, which would effectively allow the United States to sue OPEC for manipulating oil prices.
OPEC has always manipulated the price of crude oil, suing them will not make the price come down. What makes the price come down is, for taxes on foreign crude to raise and then the price of domestic crude will be cheaper.
In my opinion this is a bad bill that prevents the common person form placing any money in savings or setting aside monies for retirement
Tell the original sponsor that this is a bad bill, which will hinder the economy, and your choices in fuel procurement. Freedom should be first not subsidizing a competitor to fossil fuels.
Consumer-First Energy Act of 2008Bill # S.2991
Original Sponsor:Harry Reid (D-NV)
Cosponsor Total: 25(last sponsor added 06/04/2008) 24 Democrats 1 Independents
The provisions are in the bill are:
(1) Deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof.
This would include all producers of vehicle fuel, as there are no minor energy producers, the minor producers all went out of business in the mid eighties. So no oil company would be given a break for using domestic oil. There is a big oil filed coming in the Dakotas and another one in east Texas. This bill would make domestic crude the same price as foreign crude, hardly an incentive to get us off the OPEC cartel nipple. The result of this provision is the permanent increase in the wholesale cost of crude oil, resulting in an increase at the pump. Not just for private vehicles but for all vehicles and you will pay more for food, doctor office visits, going to work and so on.
(2) Conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit.
This sounds like a good idea but there is a rock in this provision. With this provision in place Congress could make foreign oil exploration a higher cost that domestic oil exploration. Good idea, right? Wrong this provision will shut down domestic oil exploration while doing away with competition.
(3) Impose a windfall profits tax on major integrated oil.
A tax for selling a comedy? If we don’t want the oil companies to make record profits then we should have the freedom to buy less. All this does is increase the price of the pump, which affects the price of everything else, and then increases the cost of living nation wide. Oil companies will pass this tax along to the consumer because it becomes a part of the cost of doing business.
(4) Establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming.
Another layer of government imposed upon the American people, staffed with persons that cannot get a job doing anything else. If we want to be energery independent then lower the taxes on domestic crude oil an increase taxes on foreign crude oil.
Other provisions:
Includes the Petroleum Consumer Price Gouging Protection Act, which would make price gouging a federal crime, punishable by the Federal Trade Commission (FTC).
No retailer should be told the Congress of the United States of America, how much they can charge for what they sell. Doing so ensures that the price at the pump, even for alternative fuels, will always be high. This simply disallows for competition and increases the cost of living for every one. Poorer people get the shaft, again.
Suspending of filling the Strategic Petroleum Reserve until December 31, 2008.
This reserve needs to be a full as possible in order for our military to have the fuel that the need, to the job that they do. This provision, in fact, undercuts our national security and provides no relief at the pump for anyone.
Incorporated into this legislation is the No Oil Producing and Exporting Cartels Act of 2008 or NOPEC, which would effectively allow the United States to sue OPEC for manipulating oil prices.
OPEC has always manipulated the price of crude oil, suing them will not make the price come down. What makes the price come down is, for taxes on foreign crude to raise and then the price of domestic crude will be cheaper.
In my opinion this is a bad bill that prevents the common person form placing any money in savings or setting aside monies for retirement
Tell the original sponsor that this is a bad bill, which will hinder the economy, and your choices in fuel procurement. Freedom should be first not subsidizing a competitor to fossil fuels.
Consumer-First Energy Act of 2008Bill # S.2991
Original Sponsor:Harry Reid (D-NV)
Cosponsor Total: 25(last sponsor added 06/04/2008) 24 Democrats 1 Independents
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