Boehner Over A(n Oil) Barrel!!

[Mr. Shaman]

April 26, 2011​

"Congress should consider cutting multibillion-dollar subsidies to oil companies amid rising concern over skyrocketing gas prices, House of Representatives Speaker John Boehner said on Monday.

"It's certainly something we should be looking at," Boehner said in an ABC News interview. "We're in a time when the federal government's short on revenues. They ought to be paying their fair share."

"Everybody wants to go after the oil companies and frankly, they've got some part of this to blame," he said.

But Boehner said he also wanted to "see all the facts" first.

Boehner's remarks echoed concerns expressed this month by President Barack Obama, who asked Congress to repeal $3.6 billion in annual oil, natural gas and coal subsidies, a move that would total $46.2 billion over a decade and help pay for clean energy initiatives.

But Boehner's comments go against Republican orthodoxy because the party traditionally is very supportive of the oil and gas industry and rejects most policies that would raise the costs of domestic energy production."

Boehner Opens Door...​

Better saddle-UP, Teabaggers!!!!

COME TO THE AID OF YOUR CORPORATION!!!

 

[G.T.]

He wants to see all the facts first? We're in a Budgetary crisis, what has he been spending his time on?

 

[Leweman]

Wouldnt gas prices just go up more?

 

[VaYank5150]

Wouldnt gas prices just go up more?

Even if they did, why in the hell are we subsidizing these giants?

Exxon Mobil profits increase 53% | Business | The Guardian

 

[Leweman]

Yeah I agree that there is so much profit involved that they really don't need more incentative to perform certain types of drilling or whatever else.

 

[VaYank5150]

Yeah I agree that there is so much profit involved that they really don't need more incentative to perform certain types of drilling or whatever else.

Well, not only that, but if we are subsidizing them with our tax dollars, we are basically paying them to fuck us at the pump....

 

[Mr. Shaman]

He wants to see all the facts first? We're in a Budgetary crisis, what has he been spending his time on?

Breakin'-up with the Teabaggers (for him), has gotta be a lot like breakin'-up with a PSYCHOTIC-GIRLFRIEND!!!

It takes a marginal-amount of tact.

​

 

[Claudette]

They should end all subsidies, tax loopholes and tax breaks for everyone and every company.

Succeed on your own or go by the wayside.

 

[Mr. Shaman]

Wouldnt gas prices just go up more?

If they NEED subsidies to....

....REMAIN PROFITABLE....

....somebody's in the wrong business.​

 

[Truthmatters]

They should end all subsidies, tax loopholes and tax breaks for everyone and every company.

Succeed on your own or go by the wayside.

But will the right be willing to do so?


You watch they will not

 

[Leweman]

Use your head. It isn't just the right that allows this to go on. Republicans and Democrats are all the same behind closed doors. Smoking cigars, drinking scotch and lauging at us as we bicker at eachother as the money rolls in. If they wanted to fix these problems they would have by now. Also they all wear monocles too Im sure. Republicrats is all they are. No real change just a little here on once side then a little here on the other side. Throwing us all a few bones from time to time. But nothing really changes. Hmmmmm wonder why not?

 

[JimH52]

So now the Republicans have a chance to get rid of the tax breaks for these guys. I expect the checks from Big Oil will start rolling on this one. Beaner might even hand them out again!

 

[Avatar4321]

Let's end the subsidies. But at the same time, let's eliminate alot of this bullcrap red tape and allow them to drill.

 

[whitehall]

What about the president's "kiss my ass" policy on energy? Here we are supporting Brazil's oil industry while our own energy producers are handcuffed. All we ever hear from the commie bas*turd is old enviro b.s. about creating new sources of energy.

 

[VaYank5150]

Use your head. It isn't just the right that allows this to go on. Republicans and Democrats are all the same behind closed doors. Smoking cigars, drinking scotch and lauging at us as we bicker at eachother as the money rolls in. If they wanted to fix these problems they would have by now. Also they all wear monocles too Im sure. Republicrats is all they are. No real change just a little here on once side then a little here on the other side. Throwing us all a few bones from time to time. But nothing really changes. Hmmmmm wonder why not?

Obama has already laid down the gauntlet and is obviously ready to get this done. Will Boehner and the GOP allow him?

 

[Leweman]

Coulda done it over the last two years.

 

[Mr. H.]

At least he had the presence of mind to add this comment:

“I don’t think the big oil companies need to have the oil depletion allowances,” he said. “But for small, independent oil and gas producers, if they didn’t have this there’d be even less exploration in America than there is today.”

Try reading the WSJ version of his talk on the subject.

Boehner Opens Door to Review of Oil Industry Tax Breaks - Washington Wire - WSJ

Regarding these "subsidies", most all of the proposed tax increases seek to abolish items that have been a part of the Tax Code for decades - during times of high crude prices and more importantly during times of low crude prices.

One example is Intangible Drilling Costs - these are costs associated with drilling a well that do not represent physical equipment and supplies. Geological fees are one.

This is akin to a homebuilder who employs an architect or engineer - a very necessary service to the project. Why would this "Intangible" be allowed, but Geological fees be disallowed?

Oil prices will drop, revenues will dry up, and the petroleum industry will be holding the bag because of a witch hunt that is perpetrated by a legislature that has no clue what it takes to search for, drill for, find, and market petroleum.

And it appears the public in general is just as ignorant.

 

[bripat9643]

What "oil subsidies?" I've never heard of anything resembling a subsidy that the oil companies receive. In fact, the oil companies pay billions in extortion to the government every year.

Please provide at least one example of a so-called "subsidy."

April 26, 2011​

"Congress should consider multibillion dollar subsidies to oil companies amid rising concern over skyrocketing gas prices, =House of Representatives Speaker John Boehner said on Monday.

"It's certainly something we should be looking at," Boehner said in an ABC News interview. "We're in a time when the federal government's short on revenues. They ought to be paying their fair share."

"Everybody wants to go after the oil companies and frankly, they've got some part of this to blame," he said.

But Boehner said he also wanted to "see all the facts" first.

Boehner's remarks echoed concerns expressed this month by President Barack Obama, who asked Congress to repeal $3.6 billion in annual oil, natural gas and coal subsidies, a move that would total $46.2 billion over a decade and help pay for clean energy initiatives.

But Boehner's comments go against Republican orthodoxy because the party traditionally is very supportive of the oil and gas industry and rejects most policies that would raise the costs of domestic energy production."

 

[bripat9643]

Wouldnt gas prices just go up more?

Even if they did, why in the hell are we subsidizing these giants?

Exxon Mobil profits increase 53% | Business | The Guardian

We aren't subsidizing them. Profits are not subsidies.

 

[bripat9643]

Yeah I agree that there is so much profit involved that they really don't need more incentative to perform certain types of drilling or whatever else.

What "incentives" do they receive? Please enumerate.