New Energy Bill Is Failed Policy;Washington Lets Us Down Again

I am reminded of Peter's comment last month that "partisan politics has no place in a real estate blog"  as buyers of homes with oil heat struggle to stretch their budget dollars and fuel prices soar. Congress passed a euphemistically titled "Energy Bill." What did the bill really accomplish? Mark Haines, anchor of CNBC Sqwack Box, sums it up best:

"We need to reduce our reliance on foreign oil, which this law will not do. We need to reduce our dependence on fossil fuels, no matter the origin, which this law will not do. The vast bulk of America’s oil use is in automobiles. But, Congress passed on raising fuel economy targets. Detroit argues they can’t do it. Oddly, Germany, Japan, and South Korea do not make that argument, they just produce more fuel efficient cars."

Comments

[Dennis Murphy]

A tax break that's good for everybody?Impossible!!you say.Well why not a tax break based on the dividend returns to investors. Imagine if big oil were paying more than a token dividend and if {the MAJORITY}of senior citizens, instead of falling back on the dole by the millions, could actually buy and own real estate and investment stocks and bonds.If government keeps handing out candy why should the teeth not getting any be suffering the decay.The world as they know it is upside down and we need a change from their SOP for public and private finance relationships.Persecuting the elderly is so despotic and unneccessary it is making the whole country sick!All they needed was a decent and reliable return on their life savings and many can't find it!