Last night, 92 Senators voted to proceed to S.2204, a bill to eliminate unnecessary tax subsidies and promote renewable energy and energy conservation. The bill, introduced by Senator Robert Menendez (D-NJ), is not an effort to lower gas prices, as President Obama’s deputy assistant for energy and climate change acknowledged, but rather one of “fairness” and part of a broader anti-oil agenda.
Tomorrow, Senator Menendez will hold a Twitter Town Hall to answer questions “about energy independence, efficiency & renewable, alternatives.” Heritage Action is committed to untangling the spin. Help us tweet some facts at #AskMenendez, so we can set the record straight.
Facts to Untangle the Spin:
- Even though gas is at $3.90 per gallon, just 21 cents below the all-time record high, Senator Menendez said, “Nobody has made the claim that this bill is about reducing gas prices.” Tweet it to #AskMenendez
- Per Heritage, the subsidy for wind is 1,000-times larger than the subsidy for oil. If oil received a comparable subsidy, it would be $50 for every barrel of oil produced. Tweet it to #AskMenendez
- Oil and natural gas companies are already taxed a higher rate than other domestic manufacturers. They can only take a deduction at 6% while other manufacturers receive a 9% deduction. Tweet it to #AskMenendez
- America has enough oil to supply our needs for 200 years, but the federal government only leases 3% of federal lands for oil and natural gas production. Per acre, private land produced 3 times as much oil as federal lands. Tweet it to #AskMenendez
- As America subsidizes renewables and shutters coal plants, USA Today reports that electricity prices have increased $300 per household over the last 4 years. Tweet it to #AskMenendez
Five Bonus Quick Facts:
- America is the world’s largest producer of natural gas. Tweet it to #AskMenendez
- America is the world’s second largest producer of coal. Tweet it to #AskMenendez
- America is the world’s third largest producer of oil. Tweet it to #AskMenendez
- Despite decades of solar subsidies, it is still 3 to 5 times as expensive as natural gas. Tweet it to #AskMenendez
- Germany, Spain and Denmark are all reducing their subsidies for renewables because the subsidies are ineffective and unsustainable. Tweet it to #AskMenendez