A reasonable U.S energy policy must account for two truths. First, fossil fuels will be depleted at some point, whether in 50 or 150 years. Second, by not placing a price on the environmental costs of carbon, the government is keeping oil costs down, which hinders the development of alternative energy sources. A bill co-sponsored by U.S. Rep. Raul Labrador, R-Idaho, ignores both truths while purporting to let free markets determine the winners and losers in the energy field. The congressman and his co-sponsor, U.S. Rep. Mike Pompeo (pictured), R-Kan., fail to understand that if we cannot accelerate the development of wind, solar, biomass and other emerging technologies, we’ll all be losers, Labrador held a press conference on Thursday to tout his bill, which would eliminate all energy tax credits and then use the savings to lower taxes for corporations, which is his real agenda and the reason anti-tax zealot Grover Norquist was present/Spokesman-Review Editorial Board. More here.
Question: Do you trust this bill?