Wednesday, March 14th, 2012 and is filed under Blog
As Daniel noted yesterday, it was a mixed bag of goods for the conservative movement when it came to the Highway Bill Amendments. We won 2, lost 2.
One of the victories, however, was on Amendment #1782, the NAT GAS Act, which lost 51-47.
This amendment was put forward by Senators Bob Menendez (NJ) and Senator Richard Burr (NC). For those of you unfamiliar with the NAT GAS Act, here is the memo American Majority Action put together on it last summer: Pickens Bill Talking Points Memo. It is a bill that epitomizes what is wrong with Washington, DC. And if handing a Texas billionaire (T. Boone Pickens) $10 billion in subsidies so he can enrich himself is not bad enough, it appears Senator Richard Burr has a serious conflict of interest when it comes to this amendment and natural gas. You see, Senator Richard Burr, the man who put forward this amendment and then whipped for it holds upwards of $200,000 in stock in various natural gas entities. Who else gains if this amendment goes through? Richard Burr.
I hope the above causes outrage. Think of all this in another light. A billionaire and a US Senator were hoping to pass off the risk and the upfront costs of transitioning a major part of our infrastructure to the American taxpayer so they themselves could personally profit from it. I know full well they are running around saying this is a case of national security and that we need to end our dependence on foreign oil. I happen to agree. But the solution is not to have Washington, DC create artificial demand and pick winners and losers in the market.
I know to some extent I am preaching to the choir if you are reading this blog, but the bottom line is that things need to change in Washington, DC and change fast.
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