Fat Tax Breaks for Energy Industry?

by mark (mark [at] wmuc.umd.edu)

Mon, Mar 5, 2001 11:43AM

"When Senate Republicans unveiled a long-awaited energy bill on Feb. 26, its call to open the Arctic National Wildlife Refuge to oil drilling got most of the attention. But the ANWR proposal is a sideshow. The main event of the energy-policy debate will be the lucrative tax incentives aimed at the oil-and-gas, nuclear power, and mining industries." - Business Week 3/12/01

Analysis of Murkowski's 2001 National Energy Security Act and Statement on the bill's $23 billion in energy industry subsidies (Taxpayers for Common Sense)

Sierra Club Blasts Murkowski Energy Bill as Irresponsible

Petroleum industry already pays less taxes than any other industry (Institute on Taxation and Economic Policy)

A moratorium on even studying increased fuel efficiency has been imposed by the Republican-controlled Congress. "We can't even talk about a comprehensive energy policy without concrete policies to reduce oil demand." - Senator Jeff Bingaman (N.M.)

As energy prices cause hardship for low-income families and the young (Gallup poll), will powerful corporate interests receive another tax cut?

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