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Energy Bill Challenged, Welfare for Oil Continues
By: Jeff Siegel - Monday, December 10, 2007
Source: Green Chip Review
Down the street from our Baltimore office is a local grocery store called Eddie's. We go there often to pick up lunchtime salads, morning coffee or even the occasional six-pack of whatever beer's the coldest.
This afternoon, our resident copy/editor purchased two small items from Eddie's. As he was checking out, the cashier starting putting the items in a plastic bag. But when he told her that he didn't need the bag, she abruptly, and with a significant amount of attitude, took out the items and threw the bag away.
You know, it's one thing to disagree with those who simply want to make small changes in an effort to clean up the environment. But it's another to go out of your way to actually make things worse.
Perhaps she was taking a cue from all those puppet bureau-bums on the Hill. Certainly they're experts at going out of their way to make things worse.
Just look at today's news regarding the energy bill.
After the House approved it, with all the bells and whistles of higher CAFE standards, a national Renewable Portfolio Standard (RPS) and an extension of the renewable energy tax credits, the Senate quickly blocked a speedy vote on the bill, signaling to the House that this will be an uphill battle all the way.
PROFIT FROM THE PEAK
According to Wealth Daily's Brian Hicks, we are facing the end of our oil-based economy. Not just the United States, but the world.
But the coming oil crisis doesn't have to have entirely negative implications. Profit from the Peak shows readers the upside to the end of oil and how this event can actually be a positive for investors.
In a recent report published by the International Energy Agency (IEA), the world needs to spend $20 trillion to meeting surging, global energy demand. Brian believes that this capital investment represents one of the greatest investment opportunities the world has ever witnessed.
Profit from the Peakis a roadmap that shows investors which companies and industries are best positioned to take advantage of the changing energy landscape.
No kidding!
Bottom line is, Senate Republicans and the Bush administration have clearly stated that they will block a final bill if it includes a $21 billion tax package, financed mostly by revoking $13 billion in tax incentives for big oil and gas producers.
We're not talking about actually taxing them, folks, we're simply talking about taking back some of those handouts they continue to get year after year, and putting that money into something that will strengthen our energy infrastructure . . . not just band-aid it until the whole jalopy implodes. Which you know damn well is exactly what's going to happen if we keep going down this oil-slicked road.
Of course, as I always say, these bills and debates and pissing contests are really just complacency in disguise.
Yes, if Washington would pull its head out from that pile of oil-soaked money it's buried in and actually embrace the renewable energy integration this country so desperately needs, we could accomplish our goals of energy security, lower energy prices and a cleaner environment a lot faster.
But even as they drag their talons on this one, the market continues to reward the companies that'll make renewable energy integration a reality. That's what happens when something makes sense. It works and becomes profitable.
A far cry from what our elected leaders seem capable of doing.
To a new way of life, my friends, and a new generation of wealth!
http://www.greenchipstocks.com/
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