Obama: End tax breaks for big oil

iVillage Member
Registered: 04-07-2002
Obama: End tax breaks for big oil
13
Thu, 03-29-2012 - 3:16pm
http://seattletimes.nwsource.com/html/politics/2017865518_apusobama.html

Obama: End tax breaks for big oil

President Barack Obama's plea to Congress to end $4 billion in tax subsidies to oil companies was rebuffed Thursday as the Senate turned back a Democratic bill to repeal the taxbreaks.

The Associated Press

WASHINGTON —

President Barack Obama's plea to Congress to end $4 billion in tax subsidies to oil companies was rebuffed Thursday as the Senate turned back a Democratic bill to repeal the tax breaks.

Moments after Obama made his election-year appeal in the White House Rose Garden, the Senate failed to get the necessary two-thirds vote to proceed to a measure that would have ended the subsidies. Obama had argued that Americans are getting hit twice - once at the gas pump, and once more by sending billions of dollars in tax subsidies to oil companies.

"I think it's time they got by without more help from taxpayers who are already having a tough enough time paying the bills and filling up their gas tank," the president said. "And I think it's curious that some folks in Congress, who are the first to belittle investments in new sources of energy, are the ones that are fighting the hardest to maintain these giveaways for the oil companies.

REMAINDER OF ARTICLE AT LINK ABOVE

 nwtreehugger  

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iVillage Member
Registered: 03-25-2012
Fri, 03-30-2012 - 6:59pm
That's too bad, but hardly surprising with the Congress we have seated now.
iVillage Member
Registered: 03-18-2000
Mon, 04-02-2012 - 10:29am

Obama: Taxpayers shouldn't subsidize oil industry's record profits (+video)
Moments after Obama made his election-year appeal in the White House Rose Garden, the Senate failed to reach the threshold of votes needed to proceed to a measure that would have ended the subsidies.
http://www.csmonitor.com/USA/Latest-News-Wires/2012/0329/Obama-Taxpayers-shouldn-t-subsidize-oil-industry-s-record-profits-video

Big oil made over $600 billion during Bush years, but invested bupkis in clean energy, Part 1
http://thinkprogress.org/romm/2009/05/27/204163/big-oil-made-over-600-billion-during-the-bush-years-but-invested-bupkis-in-clean-energy/?mobile=nc

 


Photobucket&nbs

iVillage Member
Registered: 04-07-2002
Mon, 04-02-2012 - 10:57am
I don't understand why they are still getting tax breaks when they've been rolling in profits for years now!

 nwtreehugger  

iVillage Member
Registered: 03-18-2000
Mon, 04-02-2012 - 11:35am
Me neither.
I think they should nationalize oil companies but that's "socialism". ;)

 


Photobucket&nbs

iVillage Member
Registered: 02-05-2011
Wed, 04-04-2012 - 7:38am

Considering that many of the tax breaks big oil uses are common to other industries, and considering that big oil already pays a lot of taxes, it's a tough case to make. Obama doesn't want to run on his record. He can't. We are worse off than we were 4 years ago.

He's looking to demonize anything possible and hope something sticks with the public. Elections have consequences, Obama has printed a lot of cash, which has inflationary ramifications. At the same time his hostility toward fossil fuels is causing refineries to close down, has cut the number of permits given on federal land in some cases to 0.

Everyone loves to hate big oil, until they need to drive somewhere, then they want gas. Obama wants gas to be very expensive, more like Europe, $10 per gallon would make him happy as alternative fuels could be more competitive.

The problem isn't big oil, or tax deductions, oil already pays more to the government than most industries. The problem is Obama and his hostility to fossil fuel, his inability to stop spending, and the inflation that causes.

iVillage Member
Registered: 05-23-2008
Wed, 04-04-2012 - 1:05pm

Obama is right, the oil companies are prospering and our people are struggling to make ends meet.

iVillage Member
Registered: 05-23-2008
Wed, 04-04-2012 - 1:29pm

Some day the oil will not be there, so we had better get going on discovering new forms of energy.

iVillage Member
Registered: 05-23-2008
Wed, 04-04-2012 - 1:31pm

Some day the oil will not be there, so we had better get going on discovering new forms of energy.

iVillage Member
Registered: 02-05-2011
Wed, 04-04-2012 - 3:21pm
When a new energy source makes sense, the private sector will fund it. Until then, wasting government money on non-viable solar and wind projects is hurting our economy.
iVillage Member
Registered: 02-05-2011
Wed, 04-04-2012 - 3:23pm
If you are correct and we shortly run out of oil, our planet has no concern from that product. If on the other hand, as history has shown, the planet gets much hotter and much cooler without regard to human technology, then we better hope companies find ways to warm our atmosphere as the normal state of the earth is glacial (it is normal for earth to be in an ice age 80% of the time for the past few million years). Anything that can extend this interglacial period should be embraced.

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