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Re: Energy Bill is Multi-Billion Dollar Payday for Industry, Group Says
Btw - California, Oregon and Washington states currently get all their oil from Alaska - what would they do without oil supplies - buy it from Saudi Arabi - and at what prices? I think California needs to rethink their energy policies and build some nuclear power plants for themselves -off my soapbox now, thanks
---
Tom Savin
On Tue, 27 Feb 2001 15:40:39
Sandy Perle wrote:
>Energy Bill is Multi-Billion Dollar Payday for Industry, Group Says
>
>WASHINGTON, Feb. 26 /U.S. Newswire/ -- Friends of the Earth (FoE)
>sharply criticized the Senate Republicans' energy bill today as a
>gigantic payday for fossil fuel and nuclear industries, citing $400
>million in subsidies the first year that would balloon to more than
>$10 billion over 10 years. The bill, introduced by Sen. Frank
>Murkowski of Alaska, also targets the sensitive Arctic National
>Wildlife Refuge (ANWR) for drilling.
>
>"This is a pollution maximization bill," said FoE president Brent
>Blackwelder. "Opening the Arctic Refuge to drilling is the most
>prominent outrage, but the bill is also a gravy train for the
>dirtiest industries, granting huge subsidies, tax breaks and
>regulatory exemptions."
>
>"This is just another blank check to add to the $2.6 billion the
>fossil fuel and nuclear energy industries get from American tax
>payers every year," said Blackwelder. "Fifty years and more than $100
>billion of subsidies to fossil fuels and nuclear power have led us to
>where we are now-energy companies with windfall profits and consumers
>out in the cold."
>
>FoE notes that the tax code is already riddled with special
>exemptions and loopholes, citing the percentage depletion allowance
>of $600 million annually intangible drilling costs for a tidy $480
>million, and a "non-conventional fuels" production credit for $1.4
>billion a year. The group says that tax subsidies for the oil and gas
>industry cost about $2.6 billion each year.
>
>"The answer to the current energy crisis is the same it has always
>been -- reduce our use of energy through greater efficiency and
>invest in clean, renewable energy sources," said Blackwelder.
>
>------------------------------------------------------------------------
>Sandy Perle Tel:(714) 545-0100 / (800) 548-5100
>Director, Technical Extension 2306
>ICN Worldwide Dosimetry Service Fax:(714) 668-3149
>ICN Pharmaceuticals, Inc. E-Mail: sandyfl@earthlink.net
>ICN Plaza, 3300 Hyland Avenue E-Mail: sperle@icnpharm.com
>Costa Mesa, CA 92626
>
>Personal Website: http://sandyfl.nukeworker.net
>ICN Worldwide Dosimetry Website: http://www.dosimetry.com
>
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