Saturday, February 2, 2008

Give Me a Tax Break

On the pages of this morning's edition of the Dallas Morning News, the interesting juxtaposition of these two articles:
The Exxon article notes they "didn't produce as much oil this year as last, but the company's prouduct fetched a much higher price." To the extent this trend continues on constrained supply and burgeoning demand, subsidies and other forms of help for the industry can be drawn down.

The other article highlights a wind turbine blade manufacturing company setting up shop in Iowa to take advantage of the skilled workforce from a recently closed Maytag factory, and the thousands of "green collar jobs" that might be created here in America.

The irony and the urgency is the fledgling renewables industry living on nervous borrowed time as its Production Tax Credits get ready to expire, while oil's tax breaks continue in place, even as it experiences record profits.

Oil should be allowed to profit unfettered as is the American Way, but it doesn't need help from taxpayers.