When President Barack Obama announced that he was proposing a $10-a-barrel oil tax in his outgoing budget, it was a reminder of how important energy issues are to our daily lives and how little attention they are getting at this stage of the presidential campaign.
While the nation’s attention is tuned to the candidate horse race, very quietly the president is pushing policies that will frankly hurt an already weak economy by taking more money out of the pockets of everyday working people and giving it to major corporations.
A tax on oil would not be borne by oil companies. They will simply pass that cost on to us in the form of higher fuel prices. That may not seem like a big deal when gas prices are low but we all know that will change.
Likewise, the president has signed a massive energy regulation that is being challenged by nearly half of the country’s attorneys general because of its encroachment on state authority. Aside from the legal issues – the regulation also contains a provision that would allow states to levy a carbon tax on its citizens to comply.
Similar to the president’s proposed tax on oil – a carbon tax would be passed on to consumers by big oil companies in exchange for a cut in their corporate income tax or investments in renewable energy.
A tax on energy is a tax on literally everything. Where the candidates stand on these proposals is as important as their plans to keep us secure at home and abroad. Our financial and national security is at stake in this election.
Ben Kinlaw, Barnwell