President Obama’s Latest Plot to Raise Gasoline Prices

By Gary P Jackson

This morning Barack Obama, standing in the Rose Garden, called on Congress to end what he called “subsidies,” in actuality, tax breaks, to the oil companies.

Now one could make the case that it’s not a bad idea to stop subsidizing, or giving tax breaks to a lot of energy businesses, but with near record high gasoline prices, the last thing we need is for the president to do something that would only cause those prices to go higher. You can bet any increase in taxes to Big Oil will translate to higher prices at the gas pump.

Let’s not forget, Obama promised that under his plan, energy prices would “necessarily skyrocket.” So far he’s keeping his word.

Thankfully the Senate voted and said “no thanks” to Obama’s plan.

WASHINGTON (AP) — 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.

The Senate vote was 51-47, short of the 60 votes necessary. Two Republicans voted to procede to the legislation — Maine Sens. Susan Collins and Olympia Snowe. But four Democrats rejected the effort — Sens. Jim Webb of Virginia, Mary Landrieu of Louisiana, Ben Nelson of Nebraska and Mark Begich of Alaska.

Prior to the vote, Senate Republican Leader Mitch McConnell challenged Obama and Democratic leaders.

Is this the best we have to offer folks who are staring at $4 a gallon gasoline? A bill that even Democrats admit won’t do anything to lower the price of gas?” the Kentucky lawmaker asked.

Obama said oil companies are pulling in record profits and shouldn’t get taxpayer help when that money could be used on alternative energy. Obama, up for re-election, has sought to align himself with people frustrated by high gas prices.

Many congressional Republicans said cutting the tax breaks would lead to higher fuel prices, raising costs on oil companies and affecting their spending on exploration. Obama couldn’t end the subsidies when Democrats controlled Congress earlier in his term.

White House spokesman Jay Carney said Obama would continue pressing for repeal of the subsidies.

That was an unfortunate vote,” he said of Thursday’s Senate action. Obama “won’t stop calling for this, it makes zero sense to have the American taxpayer subsidize oil and gas companies who are enjoying record profits.

Obama spoke before a crowd in the Rose Garden that included representatives from energy, business and environmental groups, as well as people who wrote on social media sites about how rising gas costs affected their finances.

As we know, raising energy prices also means the cost of everything else goes up. As transportation costs rise, so do food prices and prices on other essentials. So what Obama is proposing is going to effect every single American in a negative way.

One of the things Obama said in his speech today was that he was for “all of the above” when it comes to energy development, a patently false statement. We all know the regime has backed numerous failed “green” companies like Solyndra, Fisker, and of course, General Motors and the Chevy Volt. More taxpayer money has been wasted on these programs, and others, like ethanol, than the oil company subsidies. At least with Big Oil, we have something to show for it.

There is only one way to make America truly energy independent, and that’s to start using our own natural resources. We already know that we have at least 300 years worth of recoverable crude oil alone. We have like amounts of natural gas and coal as well. There is no excuse for us not to be energy independent. There also no excuse for the Obama regime’s misuse of tax payer dollars, rewarding cronies with Energy Department loans on projects that have no future.

I’m all for exploring alternative forms of energy, but the government has proven it is incapable of managing such an endeavor. It’s time for government to get out of the way, and let the free market determine what our best, most viable alternatives are.

BTW, it should be no surprise that Senator Obama was all for tax breaks for Big Oil. In 2005 he voted for $2 billion worth of the very incentives he now opposes. Check out RealClearPolitics as Obama’s Press Secretary, Jay Carney does a little shuck and jive for the cameras.

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7 Comments

Filed under In The News, Politics

7 responses to “President Obama’s Latest Plot to Raise Gasoline Prices

  1. Mike

    Why don’t we just let taxpayers keep the money in their pockets? Do we really need to let the money get filtered by a third party? If you are against subsidizing industries at all, why would you want to subsidize an industry that’s flush with money?

    What’s next, are we gonna start subsidizing Apple iPads? Apple seems to be doing really well, but consumers are hurting because iPads are so expensive.

    Funny if there was one area where I thought the right and left might be able to agree on the end of subsidies, that would be it.

    • Gary P Jackson

      Oh I think you’ll find that Conservatives DO want to end subsidies. Of course, what the Obama regime calls a “subsidy” for oil companies really isn’t a subsidy. We don’t “give” them anything. It’s merely a tax code that allows for a more aggressive ability to write down capital expenditures. Many other corporations have the same ability. It’s not specific to the oil industry.

      What we’d like to see in the end of subsidies to Big Ethanol [a junk fuel] as well as Big Wind and Big Solar. The government shouldn’t subsidize any private industry.

      Frankly, we need to revamp our tax code. Currently it’s designed to encourage certain behavior and discourage others. The purpose of taxes is to fund government services, not to social engineer.

      If I had my way, I’d like to see a flat tax, with no deductions whatsoever. Everyone pays 20% after the first $20,000 [adjusted for inflation, of course] In other words, you pay 20% of whatever your income is, minus the first $20,000.

      Under my plan, there would be no corporate taxes. The amount of jobs that would create and the investments coming back to America would offset the elimination of that tax. BTW, as of Sunday, we’ll have the highest corporate taxes in the world, something that will drive even more businesses overseas.

      I’d tax dividend and interest income at 10%

      My plan would be simple, with a one page tax form.

      That would stop a lot of corruption, because you wouldn’t have special interests courting lawmakers to create tax code favorable to them.

      All of this is incredibly simple. It won’t be easy, but it’s simple.

      • Mike

        I too would like to simplify the tax code. But I don’t think that there’s any reason we can’t have a sliding scale with no deductions on it that was easy to fill out? And if the Supreme Court gives corporations the rights of people, why shouldn’t they just pay the same we do? I’d like to think this is an area both sides of the aisle could agree upon.

      • Gary P Jackson

        The government, including the Supreme Court, doesn’t give anyone rights. ALL of our rights come from, as our founders put it, Nature’s God. Our Constitution wasn’t written to “give” us rights, it was written to protect us from a government that would try and take our God given rights away.

        As for corporations, yes, they are people. People is all any business is. Do you even understand how publicly traded corporations work, and who actually owns them? It’s just people. It’s grandmas who have IRAs, and businessmen with 401Ks. Anyone who has mutual funds owns a corporation or two. How do you think they earn interest?

        Are you a union thug? Unions invest heavily and own stock in many corporations. If you work [snort] your company may have a retirement plan of it’s own. That fund invests and owns corporations.

        Taxing corporations and individuals amounts to double taxation.

        Again, a simple flat tax makes more sense than anything. It generates income for the government to fund essential programs, and it takes away Congress’ ability to social engineer.

        Zero corporate taxes will create jobs, good paying, durable jobs.

        As of Sunday, America will have the highest corporate tax of any civilized nation on the planet. In the mean time, other nations are lowering their rates in order to create jobs.

        Again, tax income [over the first $20,000] at 20% and dividend and interest income at 10%.

        You would create more jobs and wealth that you could handle.

  2. Pingback: $9 Gasoline | A Time For Choosing

  3. Mike

    The Supreme Court interprets the constitution. Sometimes in ways you disagree with, sometimes in ways I disagree with. Remember when you folks ran around whining about “activist judges?”

    Corporations are NOT people. They are MADE UP of people. People have always had free speech rights (at least Americans.) Every (American citizen) owner of any part of any corporation has the right to “free speech”. If the head of Walmart or my corner shop wants to speak up for or against anything, great. They are people. Their businesses, however, are just that…businesses.

    Oddly enough foreigners have gotten in trouble for political donations (some call that speech for some reason.) Yet foreign corporations appear to be able to exercise their “free speech” rights here in the US without issue.

    “Free speech” has gotten quite expensive as ironic as that may seem.

    There’s no reason why we can’t have a simple sliding scale for taxes. As far as I can tell the US is not the highest taxed nation (http://goo.gl/wZ3a5.) Or if you are referring to corporate tax rates which on paper may look like the highest: you seem to have already acknowledged that many corporations don’t pay those rates in your blog: http://goo.gl/A8c0P. It’s of course not just GE, corporations have been paying little or no taxes for decades (here’s a story from the 1980′s under Reagan: http://goo.gl/8TXO2)

    If you can find any proof that we pay more than all other civilized nations – please show us a credible source (not another blog your right wing neighbor Bob writes.)

    • Gary P Jackson

      Of course corporations are people. That’s all any endeavor is. I’m sorry free speech bothers you so much. May I suggest Cuba, Venezuela, or possible Iran might be more to your liking?

      We now have the highest corporate tax in the world. If you don’t think that will drive even more business off-shore, then you are nuts.

      Since you are obviously too lazy, or too ignorant to look it up, here, read for yourself.

      https://www.google.com/search?client=opera&rls=en&q=america+highest+corporate+tax&sourceid=opera&ie=utf-8&oe=utf-8&channel=suggest

      As long as Obama and the democrat party has any power whatsoever, the United States of America is screwed.

      A generation later we are still dealing with the damage Jimmy Carter inflicted on the American people. We may never recover from the destruction Obama has caused.

      As for foreign money, as Obama about that. He’s the one who illegally took campaign donations from foreigners in 2008.

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