Skip to comments.King Obama: Oil Companies "Making Enough Profit"
Posted on 04/27/2011 8:09:31 PM PDT by kristinn
CBS News' Mark Knoller reports via Twitter on Obama statement at one of the three New York City fundraisers he headlined this evening:
"They're making enough profit," says Obama of big oil companies, calling for their $4billion in tax breaks/subsidies to be eliminated.
Obama said "we can do a lot" with the $4-billlion in oil company tax breaks. Said US should invest in energy of the future, not the past.
Any people anywhere, being inclined and having the power, have the right to rise up, and shake off the existing government, and form a new one that suits them better. This is a most valuable - a most sacred right - a right, which we hope and believe, is to liberate the world.
“Now the government ... makes way too much profit. It produces little of value except the military, NASA and our interstate highways.”
And, with its wisdom, it wants to cut the first two and it doesn’t maintain the 3rd. I’ve seen the same thing in many Communist countries - we aren’t there just yet, but if Obama gets re-elected, yeah, probably.
Absolutely. We can give even more money to help Brazil's Petrobras drill for oil.
Worse, he knows where to spend the profits most effectively.
I wonder if he would still know this if his TelePrompter was disconnected?
The Marxist Muslim Mumbler strikes again. What, again, does Government produce, again?
That’s right, nothing. Government is needed for cops and soliders, and courts...everything else can be privatized, including politician pensions.
i personally believe 0bama is grossly overpaid.
i’rather sooner see the salaries cut for all congress critters... and their pensions ended... completely
Hey Bambi, I own the eeeevilll XOM stock. They can’t make enough profits for me, so go eff yourself!
“invest” = SPEND!
One of the tax breaks benefits the small oil investor who works old wells to keep them producing. The output is small per well, but if you multiply the effect by thousands of wells you have significant production. Cut these guys off at the knees and you will reduce production.
The “They’re making enough profit,” says Obama of big oil companies comment is simalar to when he declared that his current presidential helicopter was perfectly adequate”. I was out of a job two weeks later.