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House energy bill an exercise in childishness

03/10/2008
Kicking oil companies in the shins is not energy policy. It’s childishness.The US House took a foot-swipe at oil companies on Feb. 27 when it passed the Renewable Energy and Energy Conservation Tax Act of 2008.The bill would extend and enlarge tax subsidies for electricity generated from renewable energy and for renewable fuels such as ethanol and biodiesel.It supposedly would pay for the tax breaks with a jab of the congressional heel into the US oil industry’s tibia: a tax hike estimated at $18 billion over 10 years.“We want to take the $18 billion in tax subsidies that the Bush administration and previous Congresses gave oil companies and reinvest the money in alterna...
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