It really bothers me that I am consistently calling people stupid on the blog, but what else can you say to things like this?
Declaring a new direction in energy policy, the House on Saturday approved $16 billion in taxes on oil companies, while providing billions of dollars in tax breaks and incentives for renewable energy and conservation efforts.That statement really is beyond stupid. I'm so flabbergasted right now that I'm stammering in my mind trying to form a response. I mean, Udall apparently believes that power generation companies hate buying natural gas and are just waiting with baited breath for someone to legislate a way for them to avoid it. I was seriously thinking about writing a piece on how oil companies' profit margins aren't that great, that they're really not even that good of an investment for a stock portfolio, showing their profit margins vs. various other industries, etc. But it really just isn't worth it.
"This will save consumers money," said Rep. Tom Udall, D-N.M., the provision's co-sponsor, maintaining utilities will have to use less high-priced natural gas. He noted that nearly half the states already have a renewable energy mandate for utilities, and if utilities can't find enough renewable they can meet part of the requirement through power conservation measures.
Its simply summed up that natural gas is the most cost effective way to produce electricity-on-demand (during times of peak usage, rather than steady demand). Avoiding natural gas for electricity is like avoiding using steel for building merely because its more expensive than wood (and doesn't grow back like trees!).
"This is a historic turn away from a fossil fuel agenda toward renewable energy. It's been a long time in coming," said Rep. Ed Markey, D-Mass., in an interview.Someone should explain to Rep. Markey that he is a congressman, not God (that requires at least a senate seat - ha) and that his legislation really has no bearing on reality. At least, not in the sense that he can fight the market and force companies to happily invest in less-than-viable business solutions.
"There's a war going on against energy from fossil fuels," said Rep. Ralph Hall, R-Texas. "I can't understand the pure venom felt against the oil and gas industry."I'm not sure if this is a sincere statement or more political talk-talk, but the reality is that the Left and their envirowhacko friends have demonized the oil companies...and the American people have allowed them to do it through absolute shortsightedness. The American driver's vision extends only to the price of the next gas tank -- not the thousands of dollars he will spend down the road on energy of all kinds.
As Michael Chrichton points out, we've been decarbonizing for years (wood and hay to coal, oil, gasoline, and subsequently natural gas). Why do we need the government to mandate a process that industry began a hundred years ago?