Nice Plan Obama

G

general35

5,000+ Posts
Obama, feeling heat from high gas prices due to his administrations monetary policy, decides to blame oil companies and calls for increased taxes and an end to subsidies. Obama wants to spend the extra money on clean energy initiatives. Didnt we already spend about 200 billion on those from the stimulus? This guy is completely brain dead or he is actually trying to destroy the economy and start a revolution.
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Amid rising gasoline prices at the pump, President Barack Obama urged congressional leaders Tuesday to take steps to repeal oil industry tax breaks, reiterating a call he made in his 2012 budget proposal earlier this year.

The president wrote a letter to the bipartisan congressional leadership on Tuesday, a day after Republican House Speaker John Boehner said he was willing to "take a look at" repealing the multibillion-dollar tax subsidies enjoyed by the major oil companies.

Rising gas prices have become a political weight at the White House, with polls showing that as the cost rises at the pump, the president's approval ratings have slipped. Obama has increasingly sought to display action on oil, even as he concedes that there is no immediate answer to stem costs

"High oil and gasoline prices are weighing on the minds and pocketbooks of every American family," Obama wrote. But he also added that "there is no silver bullet to address rising gas prices in the short term."

Obama's proposal, spelled out in his budget plan, would eliminate a number of tax breaks for oil companies that would generate an estimated $4 billion a year in additional revenue.

A Boehner spokesman, Brendan Buck, said Tuesday that Obama's suggestions "would simply raise taxes and increase the price at the pump." Buck said that Boehner's willingness to examine a subsidy does not mean he is advocating its repeal.

He said Boehner "is only interested in reforms that actually lower energy costs and create American jobs."

Obama's letter was addressed to Boehner, House Democratic leader Nancy Pelosi, Senate Majority Leader Harry Reid and Senate Republican leader Mitch McConnell.

Blaming the subsidies on "outdated tax laws," Obama said that money obtained from repealing the breaks should be spent on clean energy initiatives to reduce dependence on foreign oil.
The Link
 
So suggesting we end tax breaks for oil companies means you're brain dead and/or want to destroy the economy and/or want to start a revolution?

Prod - you'll be around sooner or later to this one I imagine, and this is exactly what I was talking about on the other thread.
 
Not to get into that discussion, but it's really not the same thing at all. In fact, in the previous case we were talking about an inconsistency in regulation that will be left wide open for additional moves away from the mainstream (rights for animals, an ombudsman for the earth to take her complaints? Does eating animals not constitute a violation of right to the animals life, and even if you don't think it does, are you naive enough to think there aren't MANY people who absolutely believe it is and would now have legal means to pursue that end.)

In the case general is bringing up, you may not like his rhetoric or tone, and that's fine. But the fact is that blaming the oil companies for higher prices and assuming that you can bully them or get them to simply lower prices arbitrarily shows a shocking lack of understanding about the market.

So does this mean one of the two things general suggests? No. Obama's not brain-dead and he doesn't want to destroy the economy in my mind. But I definitely don't think he knows what he's talking about on this issue, and that's not rhetoric, it's demonstrated in his words and actions.
 
So you agree that suggesting an end to oil company tax breaks doesn't mean the things general suggested.
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Progress!
 
What has Obama done that actually HELPS the domestic energy business?
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given billions to green energy companies that have white house connections.
 
There is no possible way that a rational person with a full understanding of the energy business, economics, or the current monetary crisis in this country could possibly request what obama has done. he is supposed to be a brilliant guy. he has to be wanting to cause intentional harm. there is no other rational.
 
This administration has destroyed the Louisiana off shore drilling industry and ruined thousands of peoples lively hood. Now under the guise of the EPA and a little sand lizard he is going after the West Texas and New Mexico oil industry, which no doubt will destroy much of that industry and cost thousands of jobs. This is becoming a pattern with this administration, whose goal is to raise energy prices so high we all change our life styles. How can we afford to reelect these people. Even the liberals on this board should admit that this is a concerted effort to raise the price of gasoline.
 
When President Bush left office, gas was $1.67 a gallon. How do you like "change" now?

He can't find his birth certificate, he he is loving higher gas prices.
 
How about we increase taxes on oil companies and use the money to reduce the national debt instead of buying off another Obama constituency?
 
Ok stupid question
but aren't oil companies businesses with stock holders?
If losing the tax breaks result in higher costs what will the companies likely do?
won't they raise prices? Who gets hurt in the end?

Is the USA the only country experiencing higher gas prices?

I wish Obama would go back to his tire pressure plan
 
6721, oil companies cannot "raise prices." The market will decide what a barrel of oil is worth, and subsequently, what a gallon of gasoline is worth.

If what Obama proposes actually occurs (I give it very little chance), the price of oil will increase, b/c oil companies will no longer be incentivized to drill, lowering global oil production volumes (in the face of rising demand, no less). So in the end oil companies and consumers suffer.

This is a "brain-dead," short-sighted plan - no doubt. However, Obama is likely aware of this and doesn't care. The "punish the oil companies" strategy will appear to be actions of a proactive man of the people. It will play well with our uneducated populace. A brain-dead plan for brain-dead people. No, I don't give Americans much credit because we are not very bright.

But make no mistake, it is brain-dead, which is a step below retarded. This guy needs to get his *** out of office, quickly. There's nothing worse than an arrogant far-left ideologue.
 
Although I don't believe the numbers are quite that low, there is nothing sinister or artificial about it. Demand dropped forcing refineries to cut back or divert gas to other products. Even then most refiners lost their *** the last couple of years and are only this year starting to make profits again. Refiners make maybe 10 cents a gallon profit historically.
 
So where does he say he’s blaming oil companies for rising prices and his solution is to remove subsidies as a “punishment”? From my reading he is calling for the same thing that he was calling for BEFORE gas prices started going up. Removing subsidies.

Subsidies which many on this board have denied existed until they were blue-in-the-face. But which apparently even the House Leader agrees are actually…wait for it…subsidies.
“Republican House Speaker John Boehner said he was willing to "take a look at" repealing the multibillion-dollar tax subsidies enjoyed by the major oil companies.”

General: I don’t need Obama to help the domestic oil business because our domestic oil business doesn’t amount to squat in the global picture, and the global price is THE price. It doesn’t matter if oil can be brought out of the ground in ANWAR for $50 bucks. It is less than 1% of global supply and will not materially impact the price for global oil and it will not affect the price at the pump.

Hook’em: Seems to me that a BP oil spill, Libya and general unrest in ME are the culprits behind rising oil prices.

Orange hair: If refineries are truly the bottle neck in the supply chain which many experts have claimed then it would seem that they have used their negotiating position poorly. They only make up about 13-15% of the cost in a gallon of gas so there was a fair amount leverage and a cost equation that should have allowed them to increase their margins to make a profit. They aren’t investing in new refineries so their capital outlay should be pretty low, so if they aren’t making money it’s because they suck at running their business.

Lastly, from Fox…
“This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.”

“U.S. shale oil on the other hand will only supply one to two percent of world consumption by 2015, not nearly enough to affect prices.”The Link

Drilling in the US will not affect prices of oil. It will create a few new jobs, it will keep money in the US (coincidently in the hands of big oil), and it will lessen our dependence (temporarily) on foreign oil, which is good both for financial and security reasons.
However, to just open up for more SUBSIDIZED drilling without a long term strategy to build infrastructure for some alternative would be moronic. It only serves to enrich the guys that control those fields. It’s a short term, short sighted move that would amount to a drop in the bucket (the 10 year down the road bucket, BTW).
Saudi Arabia has the ability to make up for Libya’s diminished production but will they? Nope, they said so in a Financial Times article a couple of weeks back. And there ain’t jack we can do about it. We are at their mercy until we decide to invest in a meaningful way to alter the oil dominated energy strategy we have now.
 
Sure, from a simplistic perspective increasing 1% of the worlds supply wouldn't seem to make much impact. However we don't live in a simple world. If demand is 101% of supply then that 1% is quite important. What matters is what people (US, China, etc) are willing to pay for that last increment and that sets the price for the remaining 99% of sales.

Also, it is too simplistic to say refineries don't have much capital costs because they aren't building new refineries. There are expansions all the time as well as new equipment needed to meet new regulations such as low sulfur diesel. Believe me that the idiots over at Exxon and Shell are squeezing every penny the can from their refineries and still not making huge profits. The big money is made by getting oil and gas out of the ground.
 
Just buy a freakin' smart car and shut the hell up. When people start changing their habits I will care more about their complaints. Best thing we can do as a country is to decrease our demand.
 
liberals, "high gas prices under Bush....he is to blame because he is in bed with big oil"

liberals, "prices have doubled under BHO...his is not to blame...it is big oils fault"

I agree that subsides should end for oil and gas and also for farmers and all others. The problem is that BHO has destroyed the value of the dollar with his QE 1&2. Also his interior department lawyers are to blame. BHO is the king of double speak so he does not have to be blamed.
 
Buy a smart car, you buy a smart car. I will spend my money on a gas guzzler if I want to. There is plenty of energy in this country but the environ wackos and tree huggers have eliminated the opportunity to get to it. Government intrusion and so called do gooders should shut the hell up and worry about their own business. If all the libs in this country bought smart cars then the rest of would not have to, so get after it. The Tea party which has been constantly called racist by the liberal media is not racist. The Tea party wants less government, less loss of personal freedom, less taxes, and less spending and social welfare from Uncle Sam. Did anyone think that there would come a time when 50% of the country is on some government program. Time to change.
 
Buying a smart car makes a lot of sense:
unless you have more than 2 people in your house
unless you drive on freeways
unless you have testicles

Buying a volt makes sense
unless you're unable to spend $40K on a car

Buying a Leaf makes sense
unless you have to drive more than 60 miles roundtrip
also bask to the $40K restriction (see volt)

I forget, what "green" options do I have again?
 
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