Thursday, May 19, 2011

BP Cash Makes The Difference

Impotent Senate Democrats failed to end almost a century of different tax subsidies for the oil industry. On a 52-48 vote Tuesday the Senate failed to end the subsidies worth $21 billion over ten years. Three Democrats from oil producing states joined the Repugnant Party voting against the measure. It was opposed by the usual suspects, including the Chamber of Commerce which continues to push the worn out propaganda that subsidizing a mature capitalist industry which made nearly $1 trillion in profits for the last decade is still necessary to preserve jobs. Even Rush Limbaugh does not believe that canard! Gas is currently selling in the US for $4 a gallon, the second highest price in modern times. (2008: $4.25/gal. inflation adjusted)

On another front in the class war, Florida has reduced the standards for beach restoration as millions flow into the state from British Petroleum as compensation for the Deepwater Horizon disaster. Pensacola Beach was one of the first Florida beaches to be impacted by the 5 billion barrel oil spill. A state official made beach restoration "presumptively approved regardless of consequences". Environmentalists say such "marching orders" are dysfunctional because beach restoration could exacerbate environmental damage as well ameliorate it under some circumstances. For example, the state directive does not allow officials to prohibit toxic materials or construction debris from being deposited onto artificially reinforced beaches to prevent erosion or review planting plans to determine potential impact on a beach and dune ecosystem. BP has shelled out $100 million in compensation to Florida. Blobs of oil and tar balls are still washing up on Gulf Coast beaches that draw millions of visitors each year.