Treasury Secretary meets Sen. Enzi
Washington D-C – Treasury Secretary Tim Geithner defended the Obama administration's plans to eliminate tax subsidies for oil, gas and coal. Senator Mike Enzi told Geithner in a Senate hearing that the proposal will hurt Wyoming's economy by driving up costs for the industry which in turn will cost people jobs. Enzi predicted that removing industry subsidies will also lead to higher energy costs. Geithner told Enzi that removing the subsidies from oil, gas and coal is part of a larger plan.
"Doing that for the reason that we think it's being fiscally responsible and because we think we need to eliminate subsides in the system that go to objectives that conflict with our broader effort to try to improve energy efficieny and reduce carbon emissions. Recognize that will be difficult. We don't think it will have any effect on prices."
Enzi also told Geithner that an administration plan to eliminate Abandoned Mine land funding takes away money that Wyoming is owed. Geithner promised Enzi that he would take a closer look at the issue and would work with the Senator to try and resolve the matter.