Sometimes you just have to wonder if the problem with legislatures is that people with financial backgrounds don't run for office. Last week, for example, the House Republicans hurriedly brought up a proposal that promoted electricity rate tax cuts. Note, not rate relief which is a real issue, but the tax that the state takes in. Now why would the House Republicans do this at this time. Basically, to create an election issue. But while creating an election issue is all part of politics, the real overwhelming problem is that our CT based electric companies are in a serious bind. Fuel costs are soaring, and because the rates they can charge is regulated, there is a squeeze being placed on those companies. And the squeeze is that they can sell their electricity to other markets, now that the grid can move electricity to where more profits are avaialble. Which makes me wonder if CT is not being set up for a manufactured California style energy crisis. CL & P has in the last two years hiked rates 10% and 22%. Fuel costs have doubled during the same time. If you were CL & P, where would you want to sell your electricity?
Meanwhile the House Republicans blame the House Dems for tabling the electric rate tax cut proposal, and then talk about their grand "energy proposal." If you want to cut tax rates, do it in the budget bill. But more importantly, why give up state revenue on energy consumption when the only thing that can drive down the costs of energy is less consumption. Why aren't energy tax revenues being set aside for alternative energy generation projects or energy consumption reduction projects? Today there are parts of Connecticut that are seeing gasoline break the $3/gallon barrier. Rising fuel costs are not going away. Why aren't our elected officials focusing on the real problem instead of manufacturing one?