It is a known fact that republicans support the policy of "trickle down economics" which represent tax cuts that benefit the wealthy the most with the policy statement that it creates jobs. Of course it has failed to do that and does not even advance economic growth. Just ask George W. Bush.
Senator Landrieu, a native of Louisiana as I am supports tax breaks for the major oil companies that is really corporate welfare and has never produced one extra barrel or oil or a gallon of gasoline. Those tax breaks given big oil are used to give large bonuses to the elite executives. It started out with the 12-1/2% depletion allowance in the 50's nd 60's and like today, those tax breaks never helped America become less dependent on foreign oil.
Landrieu is also a supporter of opening up more land to drilling even though big oil owns, leases or rents thousands of acres of land where they have yet to spud the first well. The idea that large corporations such as big oil who make handsome profits needs tax breaks to stay in business and make money represent the conservative ideology of the republican party and in this case also Senator Landrieu. However Warren Buffett, a person who knows a lot about making money and business says taxes are not a hinderance to a company making money and staying alive.
This writer has been a supporter of Senator Landrieu at the voting booth ever since she entered politics and I believe her positives outweigh her negatives but she is dead wrong on the subject of this issue and she was dead wrong on her position during the BP oil spill when President Obama was trying to get to the bottom of that tragic accident that took the lives of 11 rig workers. The moratorium was the right thing to do, but the Senator did not like the idea even though the cause of that tragic accident was not know and of course no one connected with the BP explosion would admit guilt.
This writer worked in the service end of the Oil industry for over 34 years and I can tell you big oil needs no tax favors to stay in business or find and produce oil. I have seen the environmental disaster inflicted on Louisiana with on shore drilling for the past 40 plus years and the oil industry has yet to be held accountable for the damage. On shore drilling is controlled by the state and many of Louisiana's representatives who serve in congress also served in the state legislature when big oil was doing their environmental damage, including Landrieu but the legislature never held them accountable.
If one reads between the lines it seems like Louisiana's political leaders in congress and also for the state of Louisiana now want to apply any BP settlement to cure all past environmental problems caused by the oil industry. BP should be held accountable for the damage they caused and the oil companies in general who have destroyed our wetlands, marshes and etc., with their on shore drilling should be held accountable, not BP and they should be held accountable by the state of Louisiana.
This commentary written by John Lucia
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