This Week in the Congress

by Myron Ebell on May 29, 2011

in Features

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Update on the Boondoggle Bandwagon

The controversy over the T. Boone Pickens Earmark Bill, H. R. 1380, continued to grow this week. Three more Republicans joined Rep. Steve Pearce (R-NM) in getting off the Boonedoggle Bandwagon and withdrew as co-sponsors.  They are Rep. Todd Akin (R-Mo.), Glenn Thompson (R-Pa.), and Tim Griffin (R-Ark.).  The complete list of 187 co-sponsors can be found here.

A joint letter organized by Heritage Action for America and signed by seventeen conservative organizations opposing the bill was sent to the Hill. Pickens himself published an op-ed co-authored by flack-for-hire Denise Bode in Politico that was full of his usual blend of self regard, bluster, and misinformation.  Pickens and Bode claimed in the op-ed that the House Republican Study Committee has endorsed his bill.  It has not, and Politico quickly corrected Pickens.  They also claimed that wind power is now cheaper than new coal-fired power.

Pickens continues to claim that he is not in this for the money, but only to reduce America’s reliance on foreign oil.  See my CEI colleague Marlo Lewis’s blog on GlobalWarming.org detailing Pickens’s BP Capital Management’s investments in a wide range of companies that would benefit by enactment of the Pickens-Your-Pocket Plan.

steve May 29, 2011 at 6:46 pm

Most of the comments in opposition to H.R. 1380 indicate unawareness of the fact that BIG OIL has been receiving tax incentives, depletion allowances, EPA requirement reimbursements, and flat out subsidy for decades. These government stimuli has allowed BIG OIL to enjoy an UNASSAILABLE position in the marketplace.

Isn’t it ironical, now that a new “player” i.e., natural gas has stepped onto the transportation fuel “playing field” BIG OIL asserts the newfound philosophy that the marketplace should decide winners and losers regarding transportation fuel.

Most opponents echo that mantra as the basis for their opposition.

Adopting that “let the marketplace decide” philosophy at this stage in our history is tantamount to acceptance of the idea that America is doomed to remain under the thumb of OPEC/BIG OIL for decades into the future.

There’s nothing wrong with government involvement in our economy at times of economic crisis, in fact it’s a necessity so long as the involvement is crafted in a way to improve our economic interests. Getting out from under the thumb of OPEC and BIG OIL certainly will satisfy that. In fact it’s naive to expect our government to do otherwise.

Don’t forget we’re presently shipping more than 1 $$$$Billion dollars DAILY TO OPEC nations, many which don’t like us much. H.R. 1380 will cost taxpayers an infinitesimal fraction of that amount, and it’s our last best hope to break the strangle-hold OPEC/BIG OIL presently has.

I say “let’s break OPEC’s grip and “kick start an entirely new industry in America.”

Ask your Representative to vote YES on H.R. 1380

steve May 29, 2011 at 6:52 pm

Most of the comments in opposition to H.R. 1380 indicate unawareness of the fact that BIG OIL has been receiving tax incentives, depletion allowances, EPA requirement reimbursements, and flat out subsidy for decades. These government stimuli have allowed BIG OIL to enjoy an UNASSAILABLE position in the marketplace.

Isn’t it ironical, now that a new “player” i.e., natural gas has stepped onto the transportation fuel “playing field” BIG OIL asserts the newfound philosophy that the marketplace should decide winners and losers regarding transportation fuel.

Most opponents echo that mantra as the basis for their opposition.

Adopting that “let the marketplace decide” philosophy at this stage in our history is tantamount to acceptance of the idea that America is doomed to remain under the thumb of OPEC/BIG OIL for decades into the future.

There’s nothing wrong with government involvement in our economy at times of economic crisis, in fact it’s a necessity so long as the involvement is crafted in a way to improve our economic interests. Getting out from under the thumb of OPEC and BIG OIL certainly will satisfy that. In fact it’s naive to expect our government to do otherwise.

Don’t forget we’re presently shipping more than 1 $$$$Billion dollars DAILY TO OPEC nations, many which don’t like us much. H.R. 1380 will cost taxpayers an infinitesimal fraction of that amount, and it’s our last best hope to break the strangle-hold OPEC/BIG OIL presently has.

I say “let’s break OPEC’s grip and “kick start an entirely new industry in America.”

Ask your Representative to vote YES on H.R. 1380

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