Energy Corps, The Real Welfare Queens

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Congress passed an energy bill on July 28th that, according to the Taxpayers for Common Sense, "includes an estimated $85 billion worth of subsidies and tax breaks for most forms of energy -- including oil and gas. The petroleum industry got new incentives to drill in the Gulf of Mexico- because oil is only $60-a-barrel. Even more disturbing, the bill "exempts oil and gas industries from some clean-water laws, streamlines permits for oil wells and new eminent-domain powers for the federal government to clear paths for power lines." This load of crap, or bill, was declared by Republicans in Congress as a step toward energy independence and lower gas prices.

What's that you say? Congressional Republicans are vampirous corporate whores? Absolutely! They don't care if your health, wallet, or property is compromised. As long as their biggest contributors/ polluters are happy.

The bill enhances Bureau of Land Management drilling permits (note: the Bush administration already has granted a record number of permits on BLM land). Hold on to your seat, it gets even better. Also authorized: seismic blasting in sensitive marine areas to gauge offshore oil reserves. Exemption of petroleum well pads from storm-water regulations under the Clean Water Act. The repeal of the Public Utility Holding Company Act of 1935; which blocked owners of utilities from owning other companies and has prevented mergers in the electricity industry. This may result in mergers and acquisitions by banks, oil corps and possibly foreign countries. This all adds up to higher prices for us, the consumer. The bill also included $2 billion for "risk insurance" in case new nuclear plants run into construction and licensing delays. And nuclear utilities will be eligible for taxpayer-backed loan guarantees of as much as 80 percent the cost of their plants.