Under the Dome analyzed the latest “Fibber Kay ad” and concludes Kay Hagan’s “investments in oil and gas wells are substantial, but they hardly qualify her for membership in OPEC. ”
This is an incredible revelation considering the way Hagan rails against –gasp— Big Oil. Oil is is oil, and it all does the same thing —- burn. My question is how Hagan’s holdings (yes, they’re hers, too) woul dbe affected by the Gang of 10 bill, which Hagan and Elizabeth Dole support. Going back to Ben Lieberman’s analysis of the bill, it definitely hits the oil companies hard with $30 billion in higher tax rates and closed loopholes, including the industry specific repeal of expense deductions. That’s not good by any reasonable standards.
But Lieberman also notes that the bill includes a “very modest expansion of domestic drilling” as opposed to opening up the market to more drilling and thus, more competition. If you look at it that way, the bill protects those companies that already have a foothold in domestic drilling, right?
Then there’s a third way to look at it: Hagan might not have any idea whether or not the bill would affect her investments.
I know I’m stabbing in the dark, and I would welcome any analysis from the mainstream media. But I’m not holding my breath.
