Wednesday, September 3, 2008

Lawyer Sanders says McCain and Palin have conflicting views on energy issues.

Senator John McCain and Sarah Palin have opposing views on energy, which is one of the most important issues of this November’s election. The most striking difference is on a windfall profits tax on oil companies.

Sen. McCain opposes such a tax, calling it one of the “failed policies of the 1970s.” Gov. Palin, in contrast, proposed such a tax in Alaska, eventually signing it into law. (The Palin tax has several components, including an increase in base taxes on oil companies and extra charges as oil prices climb.)

Gov. Palin also signed legislation providing $1,200 payments for each Alaskan to help pay for higher energy costs. Her approach is similar to that of Sen. Barack Obama, who calls for energy rebates of $500-$1,000 for American families funded with a five-year tax on oil company windfall profits.