Much has been made lately of the $4 billion in tax deductions received by oil companies — disingenuously called “oil subsidies” even though they widely apply to many businesses. Let’s go ahead and repeal them, as long as we also repeal the roughly $100 billion in subsidies given to the “green energy” initiatives. That would go much further toward helping our burgeoning debt.
Nothing better exemplifies this than the attack on Koch Industries. Koch employs more than 10,000 people in my home state of Georgia, contributing more than $700 million to our state’s economy, along with tens of millions of dollars in community and environmental philanthropic efforts. Yet, because Koch openly advocates for the free market and fiscally responsible solutions to our nation’s problems, it has come under vicious attack by several liberal organizations, many Democrats in Congress and this administration. Rather than disagree on policy, the political left has demonized companies like Koch Industries, even though the company has won awards from the Environmental Protection Agency.
It’s a sad state of affairs when the president is willing to sacrifice the economic well-being of countless Americans and pin the blame on those actually helping to solve the problem. We cannot move toward an energy policy that lowers costs for Americans and creates a long-term strategy in such an environment. Today, I call on the president and my Democrat colleagues in Congress to stop misleading the American public and work with House Republicans to expand production, lower costs, and create both energy and job security for our nation.
Rep. Paul Broun (R-Ga.) is on the Natural Resources Committee.