Posts Tagged ‘Gulf oil spill’

Oil company profits—are we being played for fools?

July 31, 2010

The AP reports that Chevron’s income tripled last quarter. Exxon Mobile reported income of $7.56 billion in the quarter. Shell…up 15 percent. Cononco…profits tripled.

BP blew it in the Gulf. But the other companies had essentially the same disaster plan. And the Gulf is a mess. There’s a big leak in the Kalamazoo River in Michigan. And so on and so on. The oil companies get huge taxpayer subsidies. They make enormous profits. And we’re on the hook to clean up the mess? And just like the tar bars on the beaches of the Gulf, it doesn’t look right to me.

It’s time to do things differently. We need to hold not just BP but all oil companies accountable. And we should stop subsidizing their astronomical profits and rather start investing in our own economic and energy security. We can start weaning ourselves off oil. And energy-efficiency is one of the cornerstones. Investing less one-quarter of what the BP spill is costing in energy-efficiency could save 30 times the energy of the oil spilled. That’s exactly what’s suggested in the Home Star legislation currently up in the Senate. Smart energy policy holds oil companies accountable and gets us out from under their expensive thumb. Let’s be smart and not let them keep playing us for fools.

Thanks, Mike

Climate, the Gulf Spill, and Energy Efficiency

June 11, 2010

In the wake of yesterday’s Senate vote blocking Senator Murkowski’s bill to halt EPA regulation of carbon dioxide, I gave a short interview this morning on the P.O.T.U.S show on Sirius.   The bottom line was this.  As confirmed by the Supreme Court in 2007, Congress has already given EPA the authority to regulate CO2 via the Clean Air Act.   Until Congress changes that, it’s the law of the land.  Meanwhile, regardless of people’s views on carbon in the atmosphere, there’s much we should be doing to reduce our energy us because energy-efficiency makes sense!

Businesses that are more efficient are more competitive.  Homes that use less energy keep money in consumers’ accounts so they can pay mortgages, put food on the table, and send kids to college.  And the less tax dollars we use to clean up oil spills in the Gulf, the easier it is to balance the budget, and pay down the deficit.   And while we’re on that subject, how about eliminating  $35 billion in tax subsidies to the big energy companies who are wildly profitable?  If we’re going to invest, let’s invest in an efficient economy that actually will pay us dividends in the form of savings done the road!

Building represent 40% of the total energy use in the U.S.  And homes are 50% of that.  And whether it’s climate, Gulf oil spills, or good home economics that you care about, making homes more energy-efficient is a good place to start.


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