Dorgan Doesn’t Get It On Energy Policy
Interesting...
Senator Dorgan is undoubtedly correct in his assessment of North Dakota's energy potential, but I find his comments interesting in light of his support for a windfall profits tax on the energy industry.
Developing new energy resources - not to mention the technology needed to exploit them - takes a lot of money. It takes years of investment into exploration, research and development before the energy industry can turn a profit on a new source, yet Senator Dorgan would like to see a tax levied on the energy industry to punish them for making too much money. Does the Senator not realize that this money is what it takes to explore new energy resources in places like North Dakota?
Apparently he doesn't given that he talks up our state's energy potential when he's here at home yet does what he can to keep private industry from capitalizing on that potential when he's in Washington. Either that or he's just plain misleading his constituents, but whatever the case his windfall profits tax certainly isn't anything that would be good for his constituents.
North Dakota probably has a greater opportunity to produce a more diversified kind of energy for this country than almost any other state, says Sen. Byron Dorgan, D-N.D.
"We have coal, we have oil, we have natural gas, we have wind, biodiesel, ethanol you name it. We have opportunities to produce virtually any kind of energy, and a lot of it," Dorgan said.
Senator Dorgan is undoubtedly correct in his assessment of North Dakota's energy potential, but I find his comments interesting in light of his support for a windfall profits tax on the energy industry.
Developing new energy resources - not to mention the technology needed to exploit them - takes a lot of money. It takes years of investment into exploration, research and development before the energy industry can turn a profit on a new source, yet Senator Dorgan would like to see a tax levied on the energy industry to punish them for making too much money. Does the Senator not realize that this money is what it takes to explore new energy resources in places like North Dakota?
Apparently he doesn't given that he talks up our state's energy potential when he's here at home yet does what he can to keep private industry from capitalizing on that potential when he's in Washington. Either that or he's just plain misleading his constituents, but whatever the case his windfall profits tax certainly isn't anything that would be good for his constituents.
