I have heard several of the political pundits yammer about the windfall-profits tax, which ostensibly would penalize oil companies. These folks don’t seem to recall what happened the last time such a bill was passed by our federal government.
Jimmy Carter’s keystone national energy policy was a similar windfall-profits tax bill. It didn’t work then, and it won’t work now. Carter’s bill actually grew our dependence on foreign oil by about 10 percent. If it passed now, the bill would cripple this country even more because now our nation imports a larger percentage of its petroleum. History has shown us that penalizing American companies isn’t the answer to achieving energy independence.
Sen. Elizabeth Dole’s vote against the windfall-profit tax bill protected North Carolina and now, thankfully, history will not repeat itself. We really don’t need to be more dependent on foreign oil.
Thanks, Sen. Dole for remembering the past so we’re not doomed to repeat it.
— Vicky Wynn