While I tend to agree with the GOP that the tax on windfall profits wouldn't reduce, if do anything to, the price of gas for Americans, I do like the idea in the Dems' proposal that the revenue from the tax would create an "Energy Independence and Security Trust Fund," if that fund would move toward alternatives from oil: biomass, wind, solar, geothermal, nuclear power (UCS Position on Nuclear Power and Global Warming
LINK, "Serous Safety and Security Risks"
LINK), and fully integrated public transportation systems.
And, thankfully, it sounds as though there are serious plans for electric cars and plug-in hybrids soon. See "Toyota Promises Plug-In Hybrid Vehicle by 2010"
LINK. Where was this innovation decades ago when numerous scientists were warning about peak oil, global warming, and pollution-caused health problems?
Unfortunately, the GOP in the Senate didn't want to reduce or get rid of the tax breaks to oil companies, but then they stymied a proposal after the oil tax one that would "extend tax breaks that have either expired or are scheduled to end this year for wind, solar and other alternative energy development, and for the promotion of energy efficiency and conservation" (AP
LINK).
So we keep tax breaks for oil companies, but we don't extend tax breaks for green energy?
WTF?
The GOP's basic stance seems to be that we need to open up ANWR and other places for more domestic production. That's quite short-sighted since efficiency and conservation will help a lot, a ton really. Investing in alternatives to oil and coal are certainly more environmentally friendly. And we can control the alternative energy sources within our own country, not be beholden to state-run oil producers and cartels in South America, Africa, Russia, Asia, and the Middle East.
Cultural Myopia.
