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December 2, 2009

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Editorial: Energy companies hope for a windfall

Friday, Aug. 3, 2001 | 4:49 a.m.

Last week big energy producers had difficulty containing their glee. The House passed President Bush's energy plan, which would allow needless drilling for oil and gas in the Arctic National Wildlife Refuge in Alaska. But that's not all. The House also voted to provide unnecessary tax breaks for energy producers to the tune of $30 billion over the next 10 years.

It is unthinkable that the House would even consider huge tax breaks at a time when these same energy producers are reaping record profits at the expense of consumers. It is hoped that the Senate, which has been highly skeptical of Bush's energy plan, rejects the House plan that is nothing more than corporate welfare.

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