Breitbart News Network: We’ve been talking about energy independence for decades. Why are we no closer to it now than we were during the energy crisis back in the 70s?
Governor Sarah Palin: The problem is not the American people or our vast resources. The problem is a lack of political will. Our politicians don’t have comprehensive energy plans. They have a couple of talking points that they spout over and over. Obama is a perfect example of this. We need an administration that comprehensively looks at our energy infrastructure and resources and develops and implements a real energy plan for the future. We should bring everyone to the table for this – from the left and the right. Give everyone a stake in the discussion. That’s what I did in Alaska in developing the legislation for our natural gas pipeline (AGIA) and in reforming our oil and gas valuation system (ACES). My team included everyone from liberal Democrats to conservative Republicans to everything in between. We were committed to responsible and ethical resource development that both protects Alaska’s pristine environment and provides for our future. We were able to put politics aside and find common sense solutions that everyone could buy into and Alaskans could get behind. There is no reason why we can’t do this on a national level. We need to come together to find a safe, ethical, economical, and environmentally responsible way to provide for our energy needs by tapping our own resources. The time is now.
BNN: As governor of Alaska, you were often at odds with the Big Oil companies. You’re no stranger to holding them accountable. Obama wants to eliminate the tax subsidies to oil companies. Is this a good idea?
Gov. Palin: I’ve said in the past that all energy subsidies need to be re-looked at and perhaps eliminated. But let’s be clear about what President Obama is referring to. There are a couple of tax breaks the oil and gas industry has access to. One of them is a tax credit available to all U.S. manufacturers – so it’s unfair to target just this one industry if you’re not going to remove that tax credit for everyone else. Another tax break they get is to accelerate their deductions of what they call “intangible drilling costs” related to drilling oil or gas wells. This is particularly beneficial to smaller independent oil producers who can deduct 100% of these costs in the well’s first year, while the larger companies can deduct 70% in the first year and the rest over the next five years. If people have a problem with this particular break, then why not follow the suggestion the Heritage Foundation made and allow all companies to expense their full capital costs immediately. That would “level the playing field” between the oil and gas industry and every other industry. But President Obama is not interested in leveling the playing field. He’s in favor of subsidizing his pet industries
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