May 9, 2008
Energy has become just another political tool for the politicians. Instead of seeking real solutions to higher gas prices, politicians want to demagogue the issue. And so, nothing gets done.
Senate Democrats want to rescind $17 billion in tax breaks for the oil industry and slap a 25 percent windfall profits tax on them unless they invest in new energy sources. But they already are investing in new energy sources. Exxon-Mobil invests more in research and technology than any other energy company. Take away that money and you’ll get less research and technology and even higher prices.
The political left won’t allow more exploration for oil in places where new technology guarantees it can be done without harming land, air or sea. They also have blocked progress on nuclear energy, though it is safe. And then they complain about high oil prices? They can’t have it both ways. But wait, of course, they can have it both ways. They are politicians.
Cal Thomas is a nationally syndicated columnist based in Washington, D.C.