Steamboat Springs "Drill now! Drill Here!" I couldn't agree more with John McCain. So why is he addressing himself to the Congress? Oil companies now hold more than 68 million acres of leased territory including more than 40 million offshore. What can Congress do? Exactly what they have done for the last 30 years, nothing! And John McCain is a substantial contributor. All that Congress might do is remove the federal restriction on offshore drilling, leaving that decision to the states. Already, Arnold Schwarzenegger, Governor of California and McCain supporter, has effectively said, "Not in my backyard!"
Where was the Senator, who is leading the Bush charge to give away more leases to the oil companies, on votes to find alternative energy sources? He has a perfect no-show record. On eight votes on renewable energy sources, he has never showed. On one vote, he sat in his Capitol office. To be fair, Barack Obama did not show on a crucial vote on July 30, either. But McCain is consistent, even to the point of refusing to support continuing tax incentives for solar power research in his home state while supporting the same type of incentives for oil companies that are rolling in profits.
And to get to extreme McCain, one has to look at his call for reduced corporate taxes. It is true that the nominal tax rate on corporations can run as high as 35 percent, but the effective rate is much lower. One has to be a fairly sophisticated accountant, or working for the oil companies, or an IRS auditor to understand that these companies pay a very low percentage of their profits in federal income taxes.
Yes, Sen. McCain, don't talk to us about drilling; talk to your financial supporters, the oil company executives and lobbyists.