Natural gas operations, which include exploration/drilling/production/storage/transportation/marketing, are essentially identical to crude oil operations.
They are also treated the same with respect to accounting and taxes.
So, for Obama to state that oil has "received subsidies for a century" (a lie) then he would also have to say the same for natural gas.
Okay, and your point is that he didn't include Natural Gas in the speech and "just" said oil?
How long have they received subsidies?
Also many companies, especially the larger ones (mostly independents), have comingled operations- involving both oil and natural gas.
I knew this was coming. Several days ago I read that Obama intended to heavily address natural gas. I knew something fishy was about to go down. Sure enough, he siezed the opportunity to once again villify oil. And here's why- still included in his yet-to-be-approved budget are as much as $90 billion in new taxes on the oil industry.
So, he's purposefully dividing two identical industries in order to rationalize unfair punitive taxes on oil.
He's going to get called on this and he'll ultimately eat his words.
I don't see where he's dividing them by his words in the SOTU but he may be doing it elsewhere. My guess is that if you are correct, he's doing it to try to move to something cleaner which would be the Natural Gas. I don't know that it is cleaner but it certainly seems cleaner since we have LNG vehicles running around the streets.
My point is Obama's an idiot and is talking out his ass.
Oil and gas have never received "subsidies". How many times do I have to state that?
Subsidies means mailbox money- it's what farmers have been getting "for a century".
Why would he expound on the virtues of natural gas when that industry is essentially identical to crude oil - and I say that because of his irresponsible comment regarding alleged "subsidies" and "profits". He contradicted himself. He's a freaking paradox.
It's an obvious set-up for the coming budget debate. A budget that contains nearly $90 billion in taxes on BOTH the oil and gas industries.
Obama is a petrophobe, and a stupid one at that. He's throws money at Brazil to encourage their oil projects, then says THIS about the U.S. oil industry?
He's one scary dude.