Obama's budget plan seeks repeal of oil and gas industry tax breaks

The overall budget eliminates $31.5 billion in "oil and gas company preferences" over a decade, according to a slender summary released by the White House this morning.

Many provisions are certain to prompt resistance from the oil industry and from Republican and Democratic lawmakers from oil-producing states. The plan drew a swift rebuke today from the oil industry's most powerful trade group, which called the measures a bad idea, especially during a recession.

"New taxes could mean fewer American jobs and less revenue at a time when we desperately need both," American Petroleum Institute President Jack Gerard said in a statement. "More taxes also could reduce our nation's energy security by discouraging new investment in domestic oil and natural gas production and refining capacity and pushing those investments -- and American jobs -- abroad."

But critics of petroleum tax and royalty policies say the industry has received too much support, even during periods of record-breaking profits, and that repealing tax breaks can help fund alternative energy programs.

Added to the list:

President Obama's 5th week in office:

President Obama's budget proposal would repeal several oil industry tax incentives while imposing new taxes on Gulf of Mexico producers to close "loopholes" that have allowed companies to avoid royalty payments.
The overall budget eliminates $31.5 billion in "oil and gas company preferences" over a decade, according to a slender summary released by the White House this morning.
http://www.nytimes.com/gwire/2009/02/26/26greenwire-obama-seeks-repeal-of-industry-tax-breaks-subsi-9882.html

*Obama will propose a massive business tax on greenhouse gases in his FY 2010 federal budget to be presented this week.
The massive tax increase and power grab was buried at the end on article on Obama's forthcoming budget proposal in The New York Times:
http://www.nytimes.com/2009/02/22/us/politics/22budget.html?_r=1&ref=business

*Obama Upholds Detainee Policy In Afghanistan:
The Obama administration told a federal judge military detainees in Afghanistan have no legal right to challenge their imprisonment there, embracing a key argument of former President Bush’s legal team
http://www.nytimes.com/2009/02/22/washington/22bagram.html?hp

*Obama appoints "The Vacuum Cleaner" to be the new US ambassador in London. Obama has been embroiled in a cronyism row after reports that he intends to make Louis Susman, one of his biggest fundraisers, the new US ambassador in London.
http://www.freerepublic.com/%5Ehttp://legalinsurrection.blogspot.com/

*Obama's administration attended four full days of negotiation at the "Durbin II" conference. During that time his people sat and passively watched the following: the failure to adopt a proposal to act against Holocaust denial, a new proposal to single out Israel, which will now be included in the draft without brackets, broad objections to anything having to do with sexual orientation, vigorous refusal by many states to back down on references to "Islamophobia" (the general allegation of a racist Western plot to discriminate against all Muslims), and numerous attacks on free speech.
http://www.forbes.com/2009/02/22/obama-israel-holocaust-durban-opinions-contributors_united_nations.html

*In response to the backlash against the bailout for failing home owners, triggered in part by Rick Santelli on CNN's rant on the floor of the Chicago stock exchange, Housing Secretary Shaun Donovan responded publicly; "the Obama administration's efforts to help struggling homeowners will aid "responsible" borrowers, not deadbeats or speculators."
http://www.cnn.com/2009/POLITICS/02/22/obama.housing/index.html

*Obama gives his blessing to Sheik Sharif Ahmed's appointment as President in Somalia. The UIC was viewed as a terrorist organization by the Bush administration, but is viewed as moderate by the new US Obama administration.
http://gatewaypundit.blogspot.com/2009/02/terror-group-leader-takes-control-of.html

*President Barack Obama now likes to talk at commissions" and summits” after making fun of Sen. John McCain for proposing a commission to look at the economic crisis facing the country. In the "Fiscal Responsibility Summit" at the White House, the President listens "to the best and the brightest on the subject of the budget as well as the larger issues related to the economy".
http://news.yahoo.com/s/ap/20090223/ap_on_go_pr_wh/obama_economy

*Among the eight members named Friday to the Presidential Task Force on the Auto Industry and the 10 senior policy aides who will assist them in their work, two own American models. Add the Treasury Department's special adviser to the task force and the total jumps to three.
http://blogs.edmunds.com/greencaradvisor/2009/02/members-of-the-presidential-task-force-on-the-auto-industry-prefer-to-drive-imports.html

*Obama’s Homeless Woman Is Actually Real Estate Investor
New information about Henrietta Hughes has come to light. It appears that the desperate homeless woman owns real estate she shifted into the name of her son to avoid taxes and acquire government aid. Henrietta Hughes also apparently sold real estate at a significant profit in 2005.
http://theliepolitic.com/2009/02/obamas-homeless-woman-is-actually-real-estate-investor/

*The United States (Obama) plans to pledge more than $900 million to help rebuild Gaza after Israel's offensive against Hamas and strengthen the Palestinian Authority, a U.S. official said on Monday.
http://www.haaretz.com/hasen/spages/1066381.html

*Vice President Joe Biden's Son and Brother Marketed Hedge Fund Through Stanford Company: The fund was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud. The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund
http://www.foxnews.com/politics/2009/02/24/report-bidens-son-brother-marketed-hedge-fund-stanford-company/

*Thomas Perez, current Labor Secretary for the State of Maryland, and former board director for Casa de Maryland, is Obama's choice to take over as the Head of the United States Citizenship and Immigration Services (USCIS). CASA is affiliated with the National Council of La Raza. CASA has also received a two-year grant from George Soros's Open society Institute.
http://voices.washingtonpost.com/annapolis/2009/02/perez_in_the_mix_for_immigrati.html

*Homeland Security Secretary Janet Napolitano avoids mention of the terms "terrorism" or "Sept. 11" in remarks prepared for her first congressional testimony since taking office, signaling a sharp change in tone from her predecessors.
http://www.foxnews.com/politics/first100days/2009/02/24/napolitano-avoids-mentioning-terrorism-remarks-congress/

*Two of President Obama's Cabinet members authored a variety of earmarks in the $410 billion omnibus spending bill the House is poised to pass Wednesday to keep the government running through Oct. 1. Transportation Secretary Ray LaHood and Labor Secretary Hilda Solis were both House members when appropriators began to forge this legislation last year. However, a stalemate between President Bush and congressional Democrats forced the sides to punt the rest of the spending provisions until now.

*The Obama administration has directed defense officials to sign a pledge stating they will not share 2010 budget data with individuals outside the federal government. In an undated non-disclosure agreement obtained by Defense News, the administration tells defense officials that “strict confidentiality” must be practiced to ensure a “successful” and “proper” 2010 defense budget process.
http://www.federaltimes.com/index.php?S=3957786

* President Obama will forecast the biggest U.S. deficit since World War Two in a budget on Thursday (2/26/2009) that urges a costly overhaul of the healthcare system and would spend billions to arrest the economy's freefall. An eye-popping $1.75 trillion deficit for the 2009 fiscal year is projected in Obama's first budget, according to U.S. officials who briefed reporters on the numbers. That is equal to 12.3 percent of U.S. gross domestic product -- the largest share since 1945 when the country ran a shortfall of 21.5 percent of GDP
http://www.reuters.com/article/marketsNews/idUSN2644850320090226?sp=true

*The Obama administration has directed defense officials to sign a pledge stating they will not share 2010 budget data with individuals outside the federal government.
The secrecy pact comes as dozens of Bush-era Pentagon appointees remain on the job, asked to stay on by the Obama administration until replacements are confirmed to ensure continuity during wartime
http://www.federaltimes.com/index.php?S=3957786

*Defense *Secretary Robert Gates has decided to allow photos of flag-draped caskets at Dover Air Force Base, Del., if the families of the fallen troops agree, the officials told The Associated Press. Gates planned to announce his decision later Thursday, they said. The current ban was put in place in 1991 by President George H.W. Bush.
http://news.yahoo.com/s/ap/20090226/ap_on_go_ca_st_pe/pentagon_war_dead

President Obama is proposing to begin a vast expansion of the U.S. health-care system by creating a $634 billion reserve fund over the next decade, launching an overhaul that most experts project will ultimately cost at least $1 trillion.

*President Obama unveiled a staggeringly huge budget this morning, telling the country it will take almost $4 trillion to run the U.S. next year.
http://www.usnews.com/articles/news/obama/2009/02/26/president-obama-puts-4-trillion-price-tag-on-new-budget.html

If you post on here and either stayed home, voted for someone other then McCain in close states or voted for ZERO because the two parties are alike, then you need to sit down and shut up because I, for one, hold you accountable for this man being in office.

Those in MN who voted for the 3rd candidate also cost Norm Coleman the election. Hope you are really proud of yourselves if we get Franken.

Just sick and tired of posters that want everything their way when it comes to candidates but are out in front against Obama. Well some of them on here helped put him in office and I will not be forgetting that for a long time!

The idea that he wants to remove incentives from oil and gas to punish Red State America and yes I believe that is what this is all about since TX, LA, and OK, three red states, are major producers of oil and gas.

Every other articles seems to be ZERO taking more of our rights and money away. When I see the trashing that goes on daily on here against Republicans that are standing tall, it makes me believe that we have a number of trolls pretending to be Conservative, and 3rd party people trying to drive a wedge between Republicans which is stupid on its face because they don’t win races — just cause Republicans to lose races. You can the party from within not on a keyboard trying to drive wedge issues or declare you are not donating again when most likely you didn’t donate to the RNC in the first place.

Some people need to grow up and realize what we are facing and the only people we have between us and total disaster are Republican candidates in 2010! Hope some of you have woke up to this staying home to teach us a lesson crap. I, for one, don’t like the lesson that is going to affect my children and grandchildren.

Rant is off!

Too many on here before the election said they couldn’t vote for McCain like those of that supported him were his biggest supporters. Far from it but we realized that Obama would be far worse as has turned out. Even now we have people advocating throwing the GOP overboard because of three repeat three rogue Republicans when the Dems had three times that many vote against the stimulus but that is ignored.
Those in MN who voted for the 3rd candidate also cost Norm Coleman the election. Hope you are really proud of yourselves if we get Franken.
Just sick and tired of posters that want everything their way when it comes to candidates but are out in front against Obama. Well some of them on here helped put him in office and I will not be forgetting that for a long time!
The idea that he wants to remove incentives from oil and gas to punish Red State America and yes I believe that is what this is all about since TX, LA, and OK, three red states, are major producers of oil and gas.
Every other articles seems to be ZERO taking more of our rights and money away. When I see the trashing that goes on daily on here against Republicans that are standing tall, it makes me believe that we have a number of trolls pretending to be Conservative, and 3rd party people trying to drive a wedge between Republicans which is stupid on its face because they don’t win races — just cause Republicans to lose races. You can the party from within not on a keyboard trying to drive wedge issues or declare you are not donating again when most likely you didn’t donate to the RNC in the first place.
Some people need to grow up and realize what we are facing and the only people we have between us and total disaster are Republican candidates in 2010! Hope some of you have woke up to this staying home to teach us a lesson crap. I, for one, don’t like the lesson that is going to affect my children and grandchildren.
Rant is off!

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