Energy Cost

Energy prices have risen and perhaps one of the largest benefactors of these sharp increases has and continues to be the state of West Virginia. The state has collected more taxes on energy than it could have ever expected. In addition to the severance taxes paid by the coal, oil & gas and timber industries, the public utilities pay enormous B&O taxes that are ultimately paid by the consumers. The West Virginia people and more particularly the folks who will have trouble meeting their energy needs this winter should be able to expect the state government to help them by using the surplus funds paid to the state as a result of higher energy prices.

These industries are doing their part by investing billions of dollars into production and extraction. They are trying to produce more in hopes that prices will stabilize. They are paying a disproportionate amount of their revenue in taxes compared to other states and other industries. Its time the state gave something back and thanked the extraction industries such as coal, oil, gas and timber for their contributions to the overall economic success of West Virginia. Let us not worry about who is right and concentrate on what is right. Some of the severance tax fund should be put aside to help those who will have trouble meeting the cost of energy.