Pedantic Political Ponderings: Minnesota

Sen. Bernie Sanders and Rep. Keith Ellison on Thursday introduced legislation to end billions of dollars in oil, coal and gas subsidies. "We are here today not just to announce new legislation, but to send a message that it is time to end the absurdity of taxpayers providing massive subsidies to hugely profitable fossil fuel corporations," Sanders told a news conference outside the U.S. Capitol. "In these difficult economic times, it is imperative that we support the taxpayers of this country and not the fossil fuel industry - one of the most powerful special interests in the world," he added.

Joining Sanders at a news conference, Ellison noted that big oil companies make more than $300 million every day. "Why should Americans prop up these companies with tax dollars and have to pay ridiculous fuel prices?" he asked. "We need to get off the fossil fuel bandwagon that keeps us dependent on oil and contributes to climate change. The $113 billion in taxpayer handouts that oil, gas, and coal companies receive should be used to invest in green jobs. It's time for this corporate welfare to end."

The measure would do away with tax breaks, financial assistance, royalty relief, direct federal research and development and many loopholes that benefit the fossil fuel industry. Under current law, more than $113 billion in federal subsidies would go to oil, coal and gas industries in the coming decade.

Doing a little quick research online, I found the following: The net profit for the first quarter of 2012 for Chevron was 6.471 Billion Dollars. The net profit for the first quarter of 2012 for Exxon Mobil was 9.45 Billion Dollars. This was not the gross profit, it was net.

I did not find the quarterly report for BP, but for the full year of 2011 the net profit for BP was 26.097 Billion Dollars. Again, this is net not gross. In all three cases it is billion with a B.

I do not object to companies making money. If they can make a lot of money, that's good too. But, subsidizing their profit is where I have a problem. They should be taxed like small companies are.

Speaker Boehner and the House GOP are sure to block this legislation. But it is good that Senator Sanders of Vermont and Representative Ellison of Minnesota are offering the legislation. Better would be seeing it pass.

Minnesota politics are in flux following the infidelity of the leader of the State Senate, Amy Koch, which led to her resigning her leadership position a week ago. This adds to uncertainty for the 2012 vote on an amendment to the Minnesota state constitution to limit marriage to opposite sex couples. The polling had the state almost evenly divided even before Senator Koch, who led the fight to get the amendment onto the ballot, revealed her adultery to the state.

Governor Dayton gave an interview to Minnesota Public Radio just before Christmas, noting the blatant hypocrisy of Ms. Koch regarding the sanctity of marriage.

Dayton told MPR News that former GOP Senate Majority leader Amy Koch's "inappropriate relationship" with an unidentified Senate staffer makes it harder for Republicans to claim the moral high ground on the issue.

"The bible says, 'Before you take out the speck in your neighbor's eye, take the log out of your own eye.' My mother used to say, 'It the shoe fits, wear it," Dayton said. "If it's befitting for somebody whose own conduct doesn't measure up to what they're professing to believe in, or prescribing for others, then they should be called on that."

Mr. Dayton said that he is hoping that the Republican legislature will remove the amendment from the ballot. Given national politics, it would be quite a surprise if the Republicans agree to do so. Nonetheless, the Governor is quite correct on all counts.

Pedantic Political Ponderings

Various Direct Links

25 June 2012

25 June 2012: Marriage News Watch

11 June 2012

11 June 2012: Marriage News Watch

21 May 2012

21 May 2012: Marriage News Watch

17 May 2012

Praise: Minnesotans United for All Families campaign

13 May 2012

Praise: Bernie Sanders and Keith Ellison take on Big Oil

16 April 2012

16 April 2012: Marriage News Watch

12 March 2012

12 March 2012: Marriage News Watch

27 February 2012

27 February 2012: Marriage News Watch

06 February 2012

6 February 2012: Marriage News Watch

30 January 2012

30 January 2012: Marriage News Watch

27 December 2011

Praise: Mark Dayton on Marriage in Minnesota