The government should not be giving subsidies to ANYTHING. Corsi forgets this basic point in this column.
He continued, “Unilaterally ending U.S. fossil fuel tax subsidies would have a seriously negative impact on the U.S. economy.”
Approximately 85 percent of the energy that drives the U.S. economy still comes from oil and natural gas.
“Simply put, why the Obama administration would shut down 20 percent of our nation’s oil production and 12 percent of its natural gas is unfathomable,” wrote Barry Russell, president and chief executive of the Independent Petroleum Association of America.
“Why it would seek to take away 25 to 40 percent of the capital that finds and produces American natural gas half of which comes from wells developed in the last four years is undecipherable,” Russell continued. “Why it would choose to hand the nation’s energy future to foreign leaders like Hugo Chavez, whose hatred for our country is as clear as the glistening spittle he spews in his anti-American speeches, is clearly a tragic miscalculation.”