Obama: End tax breaks for big oil
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Obama: End tax breaks for big oil
| 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
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 Â
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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
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nwtreehugger Â
I think they should nationalize oil companies but that's "socialism". ;)
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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.
Obama is right, the oil companies are prospering and our people are struggling to make ends meet.
Some day the oil will not be there, so we had better get going on discovering new forms of energy.
Some day the oil will not be there, so we had better get going on discovering new forms of energy.
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