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Did Palin Really Take on Big Oil?

By Robert Cowin
October 31, 2008
File under: election 08

palin oilAlaska is an oil state.  Oil companies provide most of the jobs and oil revenues make up most of the budget for the State.  So, it’s important that people understand, when Governor Palin says she’s “taken on big oil”, it’s probably more accurate to say that she forced oil companies to pay more taxes.  She basically helped push though legislation that increased taxes on oil revenues.  I suppose that counts, but it’s disingenuous to give the impression that the Governor took a bold stand.  This was essentially a mandate given to her by the people of Alaska, who were tired of a free-all-oil policy and Governor Palin kept confidence with the people by fulfilling that mandate.  Indeed, she is to be commended for that.

But given how popular oil companies are right about now, you’d think she would want to trumpet her David vs. Goliath-type success.  Unfortunately that wouldn’t mesh well with the ticket’s position of keeping taxes low across the board.  “The McCain campaign Web site biography for Palin doesn’t mention the oil tax legislation. It does mention that she suspended the state’s fuel tax, which saved taxpayers about $40 million.”

The truth is that Governor Palin is far more of a friend to big oil than she is a true “reformer”.  She doesn’t believe that burning carbon into the atmosphere is responsible for climate change (so, while she isn’t exactly a climate change denier, she is in denial about why it’s happening … which is just as bad).  She supports aggressive offshore drilling.  She wants the polar bear taken of the endangered species list because it would limit where oil companies could drill (not surprisingly, she supports drilling in ANWR).

In short, Governor Palin is of the mindset that America can drill its way out of its energy problem, and that climate change is not significant enough to support alternative energy efforts at the expense of fossil fuel production.  Furthermore, she doesn’t appear to understand the link between increased fossil fuel production and the adverse effect that has on market incentives which drive renewable energy production.

Horrifically enough for the McCain campaign, Governor Palin’s only real claim to fame in her fight against big oil is that she “spread the wealth around”.  Shhhhhhhhh!

 
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