Energy Bill's Tax Breaks Weighed on Hill (washingtonpost.com): "Congressional negotiators are weighing House and Senate proposals to include dozens of tax breaks for industries in pending energy legislation, even though they could add as much as $19 billion to the federal budget deficit in the next decade.
... Republican lawmakers, trying to reconcile the House and Senate versions of the far-reaching energy legislation, say the tax proposals are part of a well-rounded package of incentives to make the U.S. energy system more self-sufficient and reliable."

Right. Even the Secretary of Energy says they are way too big. The Bush administration, which couldn't be much more pro-energy company, is "only" asking for $10 Billion.

These tax breaks are only needed to satisfy the greed of the managers and owners of the energy companies. They are needed to win campaign contributions for the GOP. They are a symptom of the corruption of our government and politicians, and the power of lobbyists.

I am in favor of tax breaks for wind, solar, hydrogen power. These energy sources deserve some support from our government, and have broad social benefits in addition to producing power. Namely, they are cleaner than carbon sources, they are emerging technologies which will create employment, they will reduce our dependence on imported oil and fuels with a finite supply--which adds to our security as a nation.
- posted by geoff @ #