Sen. Tim Johnson, D-S.D., called for an end to taxpayer subsidies for oil and natural gas companies Wednesday, saying instead the United States should invest in further ethanol production and improving the infrastructure to deliver ethanol to market.
"High-priced oil threatens both our energy and economic security. We have a homegrown solution - ethanol," Johnson told reporters. "Oil companies don't need any help."
In a separate conference call with reporters, Sen. John Thune, R-S.D., said he does not support "raising taxes" for anybody - including oil companies. And he said such a move could raise gas prices for consumers.
"I don't think raising taxes is going to do anything to reduce the price at the pump," said Thune, who called Democrats' rhetoric against oil companies a move to mollify environmentalists. He said the idea would not pass in the U.S. Senate and would be "dead on arrival" in the House.
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