Pres Obama just called on congress to end oil subsidies

[grunt11b]

Did Obama call for cutting taxes on gas?

WTF is an "oil subsidy"?

It's a made up word politicians use to confuse their voter blocks with.

 

[LordBrownTrout]

He is trying to bring down gas prices while the pubs work to keep prices high.

.

Make oil exploration more expensive is a way to bring down gas prices?

Economic retard.

LOL

yeah because Exxon will quit looking for oil if they can only make 120 billion a year in net profits instead of 130 billion a year.

They're allowed the deductions because they are paying higher rates to other countries. Also, Exxon hasn't made 130 billion a year in net profits....not even close. You failed to mention GE, which took in 10 billion in profits but paid no taxes.

"Exxon doled out more than $15 billion in income tax payments to foreign countries last year. U.S. tax codes allow companies to take massive deductions in light of those international charges, which knocked Exxon's federal income-tax bill down into negative territory.

That said, Uncle Sam gets his money in other ways. Including sales taxes and duties, Exxon recorded $7.7 billion in U.S. tax costs last year, and paid even more overseas.

Its grand total in global taxes for the year? A whopping $78.6 billion. The company's effective income tax rate was a hefty 47%, its highest in three years. "


Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com

 

[SniperFire]

Also, what's the big deal with ending tax breaks to the oil industry

Or the housing industry.... or the (fill in the blank) industry.



For about as long as we have had taxation, the tax code has been manipulated by politicians to deliver what the government wants and/or that which the public demands.

Fossil fuel development.... Mortgage interest deductions.... College savings plans.... charitable giving....


You are being rather naive.

 

[PLYMCO_PILGRIM]

I love watching so-called Conservatives jumping out of their shoes to defend public welfare for oil companies.

End the welfare for all companies, but Obama is not going to get it done, and has no real intention in doing so. It's just politics.

I agree on ending "welfare" for all companies. If you can't succeed without taxpayer welfare than go out of business.

 

[grunt11b]

Mr. Obama, in an appearance at Nashua Community College here, took a page out of his jobs strategy of last year, calling on Americans to contact their Congressional representatives and demand a vote on the oil subsidies in the next few weeks.

“You can either stand up for the oil companies, or you can stand up for the American people,” Mr. Obama said. “You can keep subsidizing a fossil fuel that’s been getting taxpayer dollars for a century, or you can place your bets on a clean-energy future.”


...


Calling for renewed investment in alternative energy, he vowed to make a “serious, sustained commitment to tackle a problem that may not be solved in one year or one term or even one decade.”


Mr. Obama’s decision to spotlight his proposal to end oil and gas subsidies immediately opened him up to criticism from Republicans, who noted that the proposal was unlikely to help lower the price of gas at the pump. The office of the House speaker, John A. Boehner, sent an e-mail to reporters citing an analysis by the Congressional Research Service last March that found that ending the subsidies could make oil and natural gas more expensive.


...



Appearing in North Dakota on Thursday, one of Mr. Obama’s Republican challengers, Mitt Romney, said the president was out of touch. North Dakota has benefited from the discovery of the Bakken Shale, an oil-rich deposit.

“Today the president is going to be in New Hampshire talking about energy in North Dakota,” Mr. Romney said. “He’s about as far away from North Dakota as he can get and still be in the United States. His idea of course is to be far enough away from the people who know what’s really going on right here to maybe try and blow one past folks.”

...



Largely absent from the partisan bickering has been the role tensions over Iran have played in the price rise.

http://www.nytimes.com/2012/03/02/u...d-to-subsidies-for-oil-and-gas-companies.html

In other words, Obama is willing to take down the oil companies even if it hurts the american people. Or to put it another way, he is only willing to take down oil companies that have no ties to any democrats even though it will hurt the american people.

 

[WillowTree]

The Forbes article I posted

Am I really going to have to read the article to find out what you are lying about THIS time?

Just read it. It's interesting.

Also, by the way, anyone who uses the word "libtard" is a moron. Just letting you know. It's a very childish one-liner BS phrase.

...libtard...

Corporate Tax Reform and the Energy Sector - Forbes

we love the word "libtard here" it the anti venom against "tea baggers" and "repugs" and "nutters" so what dew ewe know about morons exactly?

 

[grunt11b]

He is trying to bring down gas prices while the pubs work to keep prices high.

.

Make oil exploration more expensive is a way to bring down gas prices?

Economic retard.

LOL

I say end the fuel subsidies.

For those who consider yourself conservative, and say you want less government interference in our markets and in our lives, how can you justify supporting something that works only to distort the true market price of fuel and drive inefficiencies in our economy?

How do you expect new (and possibly better) forms of energy to take hold in the marketplace when fossil fuels receive an unfair $10 billion+/yr advantage, straight from taxpayer money?

I support the President in this initiative, and I think everyone else should too.

If new and possibly better forms of energy where worth their salt, they would not need to be subsidized would they? So what you are saying is, to give hippy energy a more "Fair" chance, we should hurt the oil industry purposefully to make it more "Fair" for a product that is not even remotely ready to take over oil as our number one energy source? That could only make sense to a liberal, geesh.
It's called the free market. Oil is in right now, and we should be drilling and refining as much as we can to pay off our national debt, if new energy comes around then and only then should we ween ourselves off of oil. Until then we should be drilling our own oil.

 

[grunt11b]

I love watching so-called Conservatives jumping out of their shoes to defend public welfare for oil companies.

End the welfare for all companies, but Obama is not going to get it done, and has no real intention in doing so. It's just politics.

I agree on ending "welfare" for all companies. If you can't succeed without taxpayer welfare than go out of business.

I agree, but the government is more than willing to give them money, it is how they begin to control the companies.

 

[Avatar4321]

Tax incentives aren't welfare.

It's an avoidance of paying a tax. Call it what you will....

So they should pay taxes they don't owe?

And what you call it is important because if we can't discuss an issue honestly and accurately, we can't persuade one another. If we allow lies and misrepresntations, even those caused merely by carelessness, we can't accurately discuss the issue. If we can't accurately discuss an issue then our society cannot function in an effective manner and may even shut down any ability for our society to function.

I know there are some people who don't think language is a big deal. But it is. Because if you misuse your language, you can't effectively communicate with people and our society suffers as a result.

 

[Avatar4321]

Tax incentives aren't welfare.

Agreed. They're mandates. Which, in terms of abuse of state power, is worse.

How are they mandates? Perhaps you are thinking of them in a way I'm not, but I am not seeing how they are mandates. Could you elaborate a bit more?

 

[KevinWestern]

Also, what's the big deal with ending tax breaks to the oil industry

Or the housing industry.... or the (fill in the blank) industry.



For about as long as we have had taxation, the tax code has been manipulated by politicians to deliver what the government wants and/or that which the public demands.

Fossil fuel development.... Mortgage interest deductions.... College savings plans.... charitable giving....


You are being rather naive.

Listen, Sniper, I'm fully aware. But the topic right now is the oil industry - it's a good place to start, right?

I'm for ending tax breaks across the board... even for the green energy companies.

 

[PLYMCO_PILGRIM]

Also, what's the big deal with ending tax breaks to the oil industry

Or the housing industry.... or the (fill in the blank) industry.



For about as long as we have had taxation, the tax code has been manipulated by politicians to deliver what the government wants and/or that which the public demands.

Fossil fuel development.... Mortgage interest deductions.... College savings plans.... charitable giving....


You are being rather naive.

Listen, Sniper, I'm fully aware. But the topic right now is the oil industry - it's a good place to start, right?

I'm for ending tax breaks across the board... even for the green energy companies.

No tax subsidies for ANY energy companies. Let the best overall energy sources and companies survive and thrive!

 

[Avatar4321]

I love watching so-called Conservatives jumping out of their shoes to defend public welfare for oil companies.

How on earth are tax incentives for any business engaged in production & manufacturing public welfare for oil companies?

Is it really that difficult to be honest about everything?

 

[Luddly Neddite]

It does seem to be the American way to give tax breaks and such to those who need them the least.

That's the repub way. Just as its the repub way to lie about the budget that was just voted down.

President Obama has approved more drilling permits than any other president while the pubs filibuster all oil/gas related bills, same as they do the jobs bills.

That's what I call transparent but the rw's only see what faux tells them to see.

 

[KevinWestern]

Make oil exploration more expensive is a way to bring down gas prices?

Economic retard.

LOL

I say end the fuel subsidies.

For those who consider yourself conservative, and say you want less government interference in our markets and in our lives, how can you justify supporting something that works only to distort the true market price of fuel and drive inefficiencies in our economy?

How do you expect new (and possibly better) forms of energy to take hold in the marketplace when fossil fuels receive an unfair $10 billion+/yr advantage, straight from taxpayer money?

I support the President in this initiative, and I think everyone else should too.

If new and possibly better forms of energy where worth their salt, they would not need to be subsidized would they? So what you are saying is, to give hippy energy a more "Fair" chance, we should hurt the oil industry purposefully to make it more "Fair" for a product that is not even remotely ready to take over oil as our number one energy source? That could only make sense to a liberal, geesh.
It's called the free market. Oil is in right now, and we should be drilling and refining as much as we can to pay off our national debt, if new energy comes around then and only then should we ween ourselves off of oil. Until then we should be drilling our own oil.

As I mentioned to Sniper, I'm fully supportive of ending all tax breaks across the board, even when it comes to green energy.

I'm saying quit distorting the true price of oil. It's only going to hurt us in the end. It drives inefficiency in our economy because it kills the motivation to find alternative ways of doing things, if an alternate way is needed.

If gas was at $7 for the past 20 years, then maybe by this point in time companies would have come up with better ways to transport raw goods, and new innovators would have come up with a better alternative fuel source to replace gas.

But when gas is artificially low, the economy becomes undeservedly complacent/accepting of this fuel source, and everyone is made worse off when the shit starts hitting the fan years down the road and people start to realize that there were all these hidden costs that they necessarily didn't see at the pump.

We need to make the free market "free-er", and the government shouldn't be choosing winners and losers. geesh. Get it?

 

[Avatar4321]

artificially low? If anything the price of gasoline is artificially high.

 

[Luddly Neddite]

Make oil exploration more expensive is a way to bring down gas prices?

Economic retard.

LOL

I say end the fuel subsidies.

For those who consider yourself conservative, and say you want less government interference in our markets and in our lives, how can you justify supporting something that works only to distort the true market price of fuel and drive inefficiencies in our economy?

How do you expect new (and possibly better) forms of energy to take hold in the marketplace when fossil fuels receive an unfair $10 billion+/yr advantage, straight from taxpayer money?

I support the President in this initiative, and I think everyone else should too.

If new and possibly better forms of energy where worth their salt, they would not need to be subsidized would they? So what you are saying is, to give hippy energy a more "Fair" chance, we should hurt the oil industry purposefully to make it more "Fair" for a product that is not even remotely ready to take over oil as our number one energy source? That could only make sense to a liberal, geesh.
It's called the free market. Oil is in right now, and we should be drilling and refining as much as we can to pay off our national debt, if new energy comes around then and only then should we ween ourselves off of oil. Until then we should be drilling our own oil.

This is possibly the most ignorant and naive post I've read here. You are definitely the backbone of the repub party.

We ARE drilling our oil. Thanks to Obama, more than ever before. Also thanks to President Obama, the keystone debacle will actually benefit the US. This is over the wishes of the GOP.

What should be "in" is what is best for the US. Paying to subsidize the foreign oil cartels, though they are the most profitable businesses on the planet, is criminal. Especially since politicians get a kickback.

Suggestion - watch the documentary, Gas Hole.

 

[Katzndogz]

I say end the fuel subsidies.

For those who consider yourself conservative, and say you want less government interference in our markets and in our lives, how can you justify supporting something that works only to distort the true market price of fuel and drive inefficiencies in our economy?

How do you expect new (and possibly better) forms of energy to take hold in the marketplace when fossil fuels receive an unfair $10 billion+/yr advantage, straight from taxpayer money?

I support the President in this initiative, and I think everyone else should too.

If new and possibly better forms of energy where worth their salt, they would not need to be subsidized would they? So what you are saying is, to give hippy energy a more "Fair" chance, we should hurt the oil industry purposefully to make it more "Fair" for a product that is not even remotely ready to take over oil as our number one energy source? That could only make sense to a liberal, geesh.
It's called the free market. Oil is in right now, and we should be drilling and refining as much as we can to pay off our national debt, if new energy comes around then and only then should we ween ourselves off of oil. Until then we should be drilling our own oil.

This is possibly the most ignorant and naive post I've read here. You are definitely the backbone of the repub party.

We ARE drilling our oil. Thanks to Obama, more than ever before. Also thanks to President Obama, the keystone debacle will actually benefit the US. This is over the wishes of the GOP.

What should be "in" is what is best for the US. Paying to subsidize the foreign oil cartels, though they are the most profitable businesses on the planet, is criminal. Especially since politicians get a kickback.

Suggestion - watch the documentary, Gas Hole.

None of that is true. It might be what obama tells you, but it's not true.

 

[Truthseeker420]

Make oil exploration more expensive is a way to bring down gas prices?

Economic retard.

LOL

yeah because Exxon will quit looking for oil

Nobody said Exxon will quit looking for oil. Is that the best you got?

Well... that is the only way oil would go up.

 

[KevinWestern]

artificially low? If anything the price of gasoline is artificially high.

How do you figure - because the gov't restricts and regulates drilling? That's a fair argument, however when discussing the "true cost" of oil you must also consider the damage to the environment. Destroying thousands of miles of forest, wildlife does have its very real cost implications.

Also, in general, I still think the true market price is distorted to be lower, not higher; think about all of the huge oil exporters (like Iran) that have governments who heavily support their #1 industry.