Friday, May 20, 2011

Doing nothing about oil in D.C.

[T]he U.S. Senate has blocked a Republican effort to pass a law that would expand offshore drilling in the country. The bill would have required that the Obama administration to quicken the process for approving offshore oil drilling permits but instead failed this Wednesday in a 57-42 vote.

. . . The failure of the bill came just one day after the Senate rejected a bill, Senate Bill 940: Close Big Oil Tax Loopholes Act, proposed by Senate Democrats that would end tax incentives for Big Oil companies drilling domestically. Currently the tax subsidies total about $21 billion for the top five oil companies alone.

Obviously, we should expand drilling and close big oil tax loopholes.

Unfortunately, everyone in Washington is too pig headed to compromise.

So, they'll do nothing.

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