The bill would roll back $13.5 billion in tax breaks enjoyed by the five largest U.S. oil companies with the money to be used for tax incentives for development of renewable energy, including cellulosic ethanol from grasses and wood chips and biodiesel, and to spur energy efficiency programs and conservation.
Just remember this come election day next November: Frank Wolf is on the side of Big Oil but against energy efficiency, renewable energy, and weaning the United States off of dependence on Middle Eastern oil. Priorities, priorities...
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