Interesting op-ed from a Silicon Valley newspaper by the CEO of Akeena Solar, which calls itself America’s leading solar installer.
The CEO, Barry Cinnamon, argues “This week the House of Representatives will vote on the Renewable Energy and Energy Conservation Tax Act of 2008. This act would eliminate $18 billion in tax breaks for oil companies to help pay for extending renewable energy tax credits. If the House approves, we’ll see if Senate Republicans can vote for good energy and environmental policy – or just vote for Big Oil again.”
He says: “I’ve been a registered Republican for more than 20 years. This year I find it impossible to support a party that bends to the wishes of Big Oil. Their excuse is that the White House does not want to reduce incentives for finding new sources of oil and gas. We’ve obviously got an energy shortage, but let’s put these renewable energy incentives in perspective.”
“Renewable energy legislation that Republicans should pass moves $18 billion in tax incentives from Big Oil to the renewable energy industry over 10 years. In 2007 alone, the profits of the top five oil companies were more than $120 billion – at the current pace, they’d generate $1.2 trillion in profits during the same 10-year period.”
“Big Oil does not need tax breaks while they’re earning record – some say windfall – profits. Senate and House Republicans need to wake up to the fact that their continued votes for Big Oil are embarrassing and politically suicidal. Our country’s energy policies are an economic and environmental dead end, and we cannot wait until next year to turn around. Let’s get an energy bill passed now that removes unnecessary support for Big Oil and accelerates the growth of clean, renewable power.”
And Barry is a Republican…..