People are struggling in these tough times, and Ohio’s congressional delegation recognizes this ongoing economic malaise, but the majority avoids putting a stop to the tens of billions spent monthly on foreign oil, even subsidizing oil companies.
Is anyone surprised by a gigantic debt crisis and trade deficit when the tab for June’s oil imports came to $39 billion while Congress recently voted to continue subsidizing petroleum?
Legislation called the Nat Gas Act calls for tax credits for natural gas vehicles and refueling properties. Critics claim that tax subsidies must be avoided, seeming to use the phrases subsidy and credit interchangeably. However, subsidies are not tax credits. Subsidies are line items in the federal budget costing precious tax dollars, while credits are a type of stimulus costing taxpayers nothing. Why did so many in Washington vote to continue tax subsidies to big oil if they are serious about reducing the nation’s debt and improving our balance of trade? Tax credits add nothing to the nation’s debt.
Greater use of natural gas means jobs for Ohio. Ohio has abundant natural gas, so the Natural Gas Institute has predicted 30,000 jobs for Ohioans if this legislation passes. These paychecks ripple through our economy creating more jobs.
Natural gas is cheaper than petroleum. Currently, the cost of natural gas as a fuel is $2 per gallon. Of course, natural gas measures are different from petroleum, but equivalent calculations show that its cost is roughly $2 cheaper per gallon than petroleum. The U.S. spends close to $40 billion monthly to import oil.
Natural gas is the cleanest of fossil fuels, cleaner than oil and coal. The Sierra Club, our nation’s preeminent protector of the environment, has endorsed responsible drilling for natural gas.
Natural gas is abundant in the U.S. This means that if the Nat Gas Act passes, the U.S. would not need to import petroleum from countries like Saudi Arabia or Venezuela. Dependence on these nations for oil keeps the U.S. under the thumb of countries that don’t like us.
Don’t let federal politicians continue support for oil subsidies. Our government can stimulate business creation and increased hiring by using tax credits like those contained in the Nat Gas Act.
It will take a Herculean effort to get these Washington partisans to work for the American people and not their party or themselves. Please call your representative and join the Pickens Plan, which promotes the use of natural gas in vehicles.
Veronica Gold
State leader, the Pickens Plan
Bowling Green, Ohio