By Robert Barron
U.S. Senate candidate Andrew Rice is opposed to a windfall profits tax, but he would shift many of tax credits going to the oil industry to go to alternative fuel sources.
“There are $18 billion in tax cuts going to oil companies when they are having huge profits. That’s hard to explain to Oklahomans,” he said.
He said the nation has to move away from being an economy run on one fuel source, and one way to encourage that is to shift tax credits for traditional energy (oil companies) to alternative energy.
Rice also believes in increasing offshore drilling, but opposes increased drilling in Alaska because of the time it would take to get oil to the market. Rice made the comments during a visit to the Enid News & Eagle Thursday.
Rice said Congress and his opponent Sen. Jim Inhofe should have seen the gas price increases coming for a decade and been proactive to the problem. He proposed a national tax credit for wind turbine purchases, which he thinks will bring down the price by creating competition.
He said drilling for oil is not the only answer, although there are no easy choices. In the short term, Rice believes in releasing 50 million barrels of oil from the Strategic Petroleum Reserve, which is 98 percent full. That would provide immediate, but temporary relief to consumers while alternative energy solutions are being developed. He favors significantly reducing or eliminating government tax breaks for big oil companies that are recording record profits and rewarding their executives with billions of dollars in bonuses.
Rice wants to hurry the switch to alternative fuels.
He would encourage private investment in clean burning fuels by clarifying and expanding the Department of Energy loan guarantee program for innovative technologies and dedicate $20 billion to research and development of alternative fuels.
Rice is a life-long hunter and supports second amendment rights. He is a member of the National Rifle Association.
On other issues Rice said:
• The average American has not fared well under the Bush economic plan that he said has led to rising costs for gas, food, health care, transportation and college tuition, along with stagnant wages, a depressed housing market and fewer jobs.
• For America to remain competitive in global economy the U.S. education system must remain focused on providing a classroom environment that stimulates learning and rewards achievement, including reducing class size and improve professional development for teachers.
• He supports essentially the same measures that have been supported by Sen. Inhofe, his opponent, but wants incentives to get into other types of farming.
Rice said his personal core beliefs center on personal responsibility and fairness. Describing economic fairness, he said it means wages keeping up with inflation, and health insurance doing what the companies say it will do, rather than stopping care at a certain point.
“There are $18 billion in tax cuts going to oil companies when they are having huge profits. That’s hard to explain to Oklahomans,” he said.
He said the nation has to move away from being an economy run on one fuel source, and one way to encourage that is to shift tax credits for traditional energy (oil companies) to alternative energy.
Rice also believes in increasing offshore drilling, but opposes increased drilling in Alaska because of the time it would take to get oil to the market. Rice made the comments during a visit to the Enid News & Eagle Thursday.
Rice said Congress and his opponent Sen. Jim Inhofe should have seen the gas price increases coming for a decade and been proactive to the problem. He proposed a national tax credit for wind turbine purchases, which he thinks will bring down the price by creating competition.
He said drilling for oil is not the only answer, although there are no easy choices. In the short term, Rice believes in releasing 50 million barrels of oil from the Strategic Petroleum Reserve, which is 98 percent full. That would provide immediate, but temporary relief to consumers while alternative energy solutions are being developed. He favors significantly reducing or eliminating government tax breaks for big oil companies that are recording record profits and rewarding their executives with billions of dollars in bonuses.
Rice wants to hurry the switch to alternative fuels.
He would encourage private investment in clean burning fuels by clarifying and expanding the Department of Energy loan guarantee program for innovative technologies and dedicate $20 billion to research and development of alternative fuels.
Rice is a life-long hunter and supports second amendment rights. He is a member of the National Rifle Association.
On other issues Rice said:
• The average American has not fared well under the Bush economic plan that he said has led to rising costs for gas, food, health care, transportation and college tuition, along with stagnant wages, a depressed housing market and fewer jobs.
• For America to remain competitive in global economy the U.S. education system must remain focused on providing a classroom environment that stimulates learning and rewards achievement, including reducing class size and improve professional development for teachers.
• He supports essentially the same measures that have been supported by Sen. Inhofe, his opponent, but wants incentives to get into other types of farming.
Rice said his personal core beliefs center on personal responsibility and fairness. Describing economic fairness, he said it means wages keeping up with inflation, and health insurance doing what the companies say it will do, rather than stopping care at a certain point.
