Wednesday, December 23, 2015

Big Oil spins the $1.1 trillion spending/tax deal

Many Republicans and a few Democrats are whooping it up because part of the deal-making for the recent $1.1 trillion spending/tax package was tossing out the 40-year-old ban on U. S. exports of crude oil.

Let’s dig into this one.

This move to open the gates for American companies to export oil doesn’t help America. It doesn’t improve our energy independence. This isn’t a bold step to mitigate ongoing global climate change.

It’s good for the companies that own crude in America. Now they’re going to get a chance to sell it overseas where they can get a better price for it.

Joe and Jane America aren’t getting any piece of that action.

That’s it, folks.

End of story.

Copyright © Richard Carl Subber 2015 All rights reserved.

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