During Tuesday's Democratic debate, Sen. Hillary Clinton decried the 2005 energy bill passed by Congress:
CLINTON: Well, Tim, I think it’s well accepted that the 2005 energy bill was the Dick Cheney lobbyist energy bill. It was written by lobbyists. It was championed by Dick Cheney. It wasn’t just the green light that it gave to more nuclear power. It had enormous giveaways to the oil and gas industries.
But the nonpartisan Congressional Research Service had this (PDF) to say about the bill:
The Energy Policy Act of 2005 (EPACT05, P.L. 109-58) included several oil and gas tax incentives, providing about $2.6 billion of tax cuts for the oil and gas industry. In addition, EPACT05 provided for $2.9 billion of tax increases on the oil and gas industry, for a net tax increase on the industry of nearly $300 million over 11 years.
(Hat tip: Washington Post Fact Checker.)
Is the Energy Policy Act of 2005 a giveaway to the oil and gas industry?
Thoughts
Energy Bill
Submitted on February 21st, 2008 by JReneeBarack Obama voted to pass this bill, Hillary Clinton voted against it.
Cheney's Energy bill is touted as "the greatest porkfest in history."
'Nough said.
giveaway to the oil and gas industry
Submitted on February 2nd, 2008 by brain6277% just ignore the FACT that oil and gas will actually pay more taxes. Maybe an indication of how some just dislike Cheney regardless of the facts?