The Democrats Take Over On January 4 With A Bang

Filed in archive Current News on December 29, 2006

The card shown here comes from the Democratic Party's official website which you will find here and features the first female speaker of the House in the person of Representative Nancy Pelosi. But her female leadership is not the rocking news the Democrats will be bannering by the turn of the year. The Democrats are eyeing a new fund for renewable energy development and energy conservation practices. The fund, according to some insiders, will come from those rich oil companies. An big bang to start the new year, right?

I think there will be a very fierce battle ahead. Legislators are looking at rolling back huge subsidies that were given to US oil companies, which would translate to millions of dollars in revenue (or loss, depending on where you are sitting) to be diverted to research and development of ethanol, among others. Legislators are also looking at the possibility of reworking some of the oil-drilling leases awarded by the government due to royalties due from some 50 plus companies who arent updated on their payments.

Whatever the source or the mechanism for the fund would be, it would be a huge boost to the renewable energy cause. So the Democrats are going out ahead, right? Yes, hold on cause it will be an interesting year.

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