Greasing Mr. Pickens
T.Boone Pickens is reportedly turning up the heat for passage of HR 1380, a cornocupia of subsidies and bennies for the natural gas business. Oddly enough T.Boone has substantial interests in promoting, at our cost, his plan to increase use of nat gas as a transportation fuel.
The T.Boone-backed proposal would produce a host of goodies for the industry: subsidies totaling $11,500 per car; $64,000 for commercial natural gas trucks, depending on their size; and up to $100,000 for retailers to install natural gas infrastructure at filling stations. Pickens estimates we’re looking at about 5 billion / year but toss in the tab for passenger-vehicle subsidy at an assumed sales rate of 1 million natural gas cars and 100,000 small natural gas trucks each year, and the price tag would be $13.8 billion per year, without counting the bigger subsidies for large trucks and filling stations.
Among the 182 bi-partisan co-sponsors we count Texas congress members Joe Barton, Kevin Brady, Gene Green, John Carter, Henry Cuellar, John Culberson, Louie Gohmert, Al Green, Kay Granger, Ralph Hall, Ruben Hinojosa, SJL, Eddie Bernice Johnson, Kenny Marchant, Mike McCaul, Ron Paul, Silvestre Reyes, Pete Sessions, Lamar Smith, Blake Farenthold, Mac Thornberry, and Ted Poe
Memory is tricky but we seem to recall several of these members achieved office based on professed fealty to limited government, free markets and fiscal responsibility. We haven’t reviewed contribution reports, if you’ve got the time drop us a line. And place a call to your member, we’d be interested in the explanations of how greasing Mr. Pickens comports with claimed conservative creds.
HR 1380 sits in the Ways & Means Committee. Let’s see that it dies there.
Posted on July 4, 2011, in Constitutionally Limited Govt, Fiscal Responsibility, Free Markets, Limited Government, Oil & Gas Industry, TEA Party Issues, Uncategorized, united states politics and government and tagged congress, free lunch, Kevin Brady, Mike McCaul, Ron Paul, subsidy, T.Boone Pickens, Ted Poe. Bookmark the permalink. Leave a comment.