Tuesday, August 15, 2006

There he goes again -- Kennedy on energy policy

Posted by Craig Westover | 5:43 PM |  

Mark Kennedy may approve this message, but anybody that knows anything about energy policy, or is willing to face the truth about energy policy, doesn’t.
Mark Kennedy Campaign Unveils “Gas Pump”

(St. Paul, Minnesota) – Mark Kennedy’s U.S. Senate campaign launched its third ad of the campaign season today. The ad, “Gas Pump,” talks about Kennedy’s plan to end our dependence on foreign sources of oil and lower gas prices at the pump. Kennedy released the following statement:

“America is too dependent on foreign sources of oil, raising the cost at the pump and threatening our security. We need to harness the same spirit that got a man to the moon to become energy independent. That’s why I introduced a bi-partisan bill that would take tax breaks away from the oil companies and redirect them to double incentives for E85, ethanol, and hybrid technology. (H.R. 4623)

“I also support a plan that would expand the use of renewable fuels like ethanol and biodiesel by implementing the 10x10 and 25x25 plan that requires the U.S. fuel supply to consist of 10% renewable fuels like ethanol by 2010 and 25% by 2025.

“Finally, I’ve proposed to temporarily suspend the federal gas tax, which would immediately lower prices at the pump by 18.4 cents per gallon. The Highway Trust Fund would remain fully funded by collecting deep-water lease royalty fees that were previously uncollected due to an oversight of the Management and Mineral Service. The $7 billion would bring the past-due accounts of deep-water oil companies up to date and hold the Highway Trust Fund harmless without raising taxes.” (H.R. 5302)

To view “Gas Pump,” visit http://www.markkennedy06.com/.

I am baffled that as a CPA Kennedy believes that you can address the price of gasoline, which is on many levels a supply and distribution problem, by increasing the quantity demanded by artificially lowering the price at the pump. Take away oil company subsidies, fine, but understand that you are reducing resources available for exploration and production to support technologies that can’t produce the equivalent amount of energy for the same subsidy amount. How in the hell is that going to lower the price at the pump?

I’ve written before, and I say it again, this kind of political pandering doesn’t do the reputation or credibility of the GOP any good.

Sorry, but I don’t buy that being right on the big issue of the War on Terror grants immunity to fudge the truth on other issues. On foreign policy alone, Kennedy deserves the Senate seat over Klobuchar, but damn it, his credibility becomes a hard sell to non-believers if he keeps churning out insincere or just plain ignorant energy policy.