Elizabeth Dole signs on to an energy bill that would produce very little energy.
The Heritage Foundation’s Ben Lieberman lays it out in terms that everyone (except politicians, evidently) can understand:
Paying for part of the $84 billion cost of this bill is $30 billion in higher effective tax rates for companies producing domestic oil and natural gas.
…..Trying to solve energy problems with tax hikes is a mistake from the past that should not be repeated. The only thing these tax code changes will do is discourage domestic oil and natural gas production in the long run, perhaps as much or more than the limited pro-drilling provisions would encourage it.
Note that Dole’s rival Kay Hagan also supports the bill.
