End Big Oil Tax Breaks

The Washington Post is reporting today that House Democrats passed a bill that would rescind tax breaks to the 5 largest oil companies and use that revenue as incentives for alternative energy sources such as wind and solar.

The fact that I am in agreement with the Democrats troubled me for a mini-second. However, after further review, I think that I am in agreement because of the libertarian leanings that I tend to have now and then that go against the grain of "Republican" thinking. Why should oil companies get tax breaks? Why should any large company get tax breaks, for that matter?

Republicans are arguing that the loss of tax breaks will result in higher prices for consumers and discourage oil and gas exploration.

First point- how the hell are we supposed to tell that there are higher oil and gas prices? Every day is a new high price. It seems to be the norm. It regularly costs me $65 to fill up the tank of my SUV. And the hybrid vehicles that I regularly drive over or off the road are spending upwards of $20 per tank now. Oh, the humanity!

And the second point - are Republicans suggesting that if there are no tax incentives the oil companies will cease doing what they do for a living? Give me a break! If Congressmen stop getting tax incentives are they going to stop passing ridiculous laws? Of course not.

And these oil companies are earning record profits. I'm not against record profits, except when then come at the expense of the public. The government should not be propping up corporate profits with taxpayers' money. We should be supporting haircuts for John Edwards.

I will, however, have to disagree with Democrats on the use of the money. The government should not be funding alternate sources of energy. That is what the private sector should be doing. The more the government meddles the worse things get. Look at public television as an example. You can't tell me that Clifford wouldn't be on Nickelodeon if PBS wasn't receiving government funding.