One of the new Members of Congress, Idaho’s Rep. Bill Sali, clearly understands the economics underpinning the Democrats’ energy bill passed in the House this week. Rep. Sali noted in a release tonight that policy ideas like raising taxes "would only further de-energize America and cost consumers more for the gas they need."
Rep. Sali further commented on the bill: "This legislation increases taxes by $7.7 billion in tax hikes over a ten-year period, costs which will be passed directly to people who put gas in their cars– namely, just about everyone. Taxing American firms rather than foreign oil makes no sense. My friends across the aisle are against new domestic oil drilling. They have failed to include any new oil refining provisions in their bill. And they are unconcerned by the grim reality that higher taxes ultimately are passed onto ordinary consumers."
That’s the best summary I’ve seen of the issues at stake with America’s energy policy.