Debunking Political Misconceptions About The Oil Industry
The post Debunking Political Misconceptions About The Oil Industry appeared on BitcoinEthereumNews.com. WASHINGTON, DC – OCTOBER 12: Rep. Ro Khanna (C-CA) (R) and Sen. Richard Blumenthal (D-CT) hold a … [+] news conference to discuss legislation that would temporarily halt U.S. arms sales to Saudi Arabia at the U.S. Capitol on October 12, 2022 in Washington, DC. Blumenthal and Khanna said the legislation is a reaction to Saudi Arabia agreeing with other OPEC countries to cut production of oil, which they say will help Russia in its war with Ukraine and make allies like the U.S. suffer at the gas pump. “Saudi Arabia has broken trust with America and it needs to come to its senses,” Blumenthal said. (Photo by Chip Somodevilla/Getty Images) Getty Images Good energy policy starts with a good understanding of energy issues. But both major political parties have glaring blind spots when it comes to understanding the energy sector. Let me preface this column by noting that I am a registered Independent. I have major disagreements with both political parties, and I strive to approach issues from a completely objective viewpoint. I think Republicans get it mostly wrong when it comes to climate change, and the importance of transitioning to alternative energy. But they seem to understand the current critical role of fossil fuels in the economy, and they mostly get it right when it comes to supporting nuclear power. Democrats never seem to understand how the oil industry works. For example, look at the list of Democrats who signed onto the “Big Oil Windfall Profits Tax” introduced last year by Senator Sheldon Whitehouse (D-RI). In announcing the bill, Senator Whitehouse said it would “curb profiteering by oil companies and provide Americans relief at the gas pump.” The bill was cosponsored by Senators Jeff Merkley (D-OR), Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Richard Blumenthal (D-CT), Tammy Baldwin (D-WI),…
The post Debunking Political Misconceptions About The Oil Industry appeared on BitcoinEthereumNews.com.
WASHINGTON, DC – OCTOBER 12: Rep. Ro Khanna (C-CA) (R) and Sen. Richard Blumenthal (D-CT) hold a … [+] news conference to discuss legislation that would temporarily halt U.S. arms sales to Saudi Arabia at the U.S. Capitol on October 12, 2022 in Washington, DC. Blumenthal and Khanna said the legislation is a reaction to Saudi Arabia agreeing with other OPEC countries to cut production of oil, which they say will help Russia in its war with Ukraine and make allies like the U.S. suffer at the gas pump. “Saudi Arabia has broken trust with America and it needs to come to its senses,” Blumenthal said. (Photo by Chip Somodevilla/Getty Images) Getty Images Good energy policy starts with a good understanding of energy issues. But both major political parties have glaring blind spots when it comes to understanding the energy sector. Let me preface this column by noting that I am a registered Independent. I have major disagreements with both political parties, and I strive to approach issues from a completely objective viewpoint. I think Republicans get it mostly wrong when it comes to climate change, and the importance of transitioning to alternative energy. But they seem to understand the current critical role of fossil fuels in the economy, and they mostly get it right when it comes to supporting nuclear power. Democrats never seem to understand how the oil industry works. For example, look at the list of Democrats who signed onto the “Big Oil Windfall Profits Tax” introduced last year by Senator Sheldon Whitehouse (D-RI). In announcing the bill, Senator Whitehouse said it would “curb profiteering by oil companies and provide Americans relief at the gas pump.” The bill was cosponsored by Senators Jeff Merkley (D-OR), Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Richard Blumenthal (D-CT), Tammy Baldwin (D-WI),…
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