Black Gold Vs. Corporate Gold
The press is oblivious to the real link between Alaska refuge drilling and corporate taxes.
The money pumped out of our staggering economy by tax breaks for the corporate rich during the Bush Era dwarfs the tax revenues we would wind up extracting from wrecking the Alaska National Wildlife Refuge.
And the amount of oil we could squeeze out from new drilling in Alaska is a stain on your driveway compared with world oil output.
An unpublicized Congressional Research Service (CRS) report reveals that the tax-revenue scheme at the heart of the mania for more drilling into Alaska is far from certain to work.
And it would produce small change compared with the corporate tax breaks that, even more than the high cost of fuel, are crippling the economy.
Further drilling in Alaska — already a major campaign issue separating John McCain and Barack Obama — would be mainly of propaganda value as a way of convincing the public that our gas-pump prices would drop.
read on at the Bush Beat ...