Posted on 03/17/2012 12:44:20 PM PDT by bestintxas
President Obama said Saturday he can’t do much to lower gas prices, and renewed his call for Congress to end tax breaks for oil companies.
“The truth is, the price of gas depends on a lot of factors that are often beyond our control,” Mr. Obama said in his weekly address. “Unrest in the Middle East can tighten global oil supply. Growing nations like China or India adding cars to the road increases demand.”
The president didn’t mention one of the few direct actions he could take to try to lower gas prices in the short term — releasing oil from the U.S. Strategic Petroleum Reserve.
Mr. Obama called for that solution as a candidate in 2008 when gasoline prices neared $4 per gallon, and he reportedly discussed the option earlier this week with British Prime Minister David Cameron.
Instead, Mr. Obama said his administration is cracking down on oil profits — on traders who “distort the price of oil, and make big profits for themselves at your expense.” And he called on Congress again to eliminate $4 billion in annual tax breaks for oil companies.
“Your member of Congress should be fighting for you,” Mr. Obama said. “Not for big financial firms. Not for big oil companies.”
A report by the nonpartisan Congressional Research Service last year found that eliminating the subsidies would likely result in higher gas prices in the short term.
(Excerpt) Read more at washingtontimes.com ...
“Shut up and drill”.
What’s even dumber are the voters who believe him and do their part to give him a 2nd term.
Cut the tax breaks other businesses get, and you drive up operating costs. Guess who will wind up paying those operating costs.
It will be added to the cost of the products we buy.
This is such a simple concept. Of course it does reveal that Obama and his flying monkeys have not given up on driving gas prices to $8.00 a gallon, if they can get four more years.
It’s the truth. :)
LOL...I certainly am not taking credit for it...there are likely hundreds of other Freepers who express that exact sentiment!
On this general topic, huge swaths of the populace seem entirely ignorant of basic supply and demand concepts and truisms.
And they vote. That so many who are so clueless can affect the rest of us in such terrible ways is extremely frustrating and maddening.
I keep it so I can post it at appropriate times. I copied it and passed it around work about three years ago and the libs went crazy.
Perhaps, and The Manchurian Candidate, without doubt.
Increasing taxes on oil companies will RAISE the price of gasoline. Reducing the taxes on oil companies and distributors (at the pump) will DECREASE the price of gasoline.
Where was gasoline near $4 per gallon in 2008?
This is an opportunity and a grand one. There are similar tax “breaks” for the motion picture industry, GE, Wall Street, etc.
Look at where Obama gets his money and hit him back with a proposal to remove tax “breaks” specific to those industries. I particularly believe a focus on the motion picure industry would be best. They’ve got some accounting magic that is criminal.
Absolutely not. End drilling restrictions without increasing taxes on oil companies.
BTTT
Even the dumbest dork knows that this is total BS.
It is now not a matter of words but of HIS deeds.
I’ve worked here in the oilfields in Texas all my life, it is lunacy in it’s purest form to think that the oil companies will just “soak it up”. Any increase in taxes will be passed on DIRECTLY to consumers. Of course if your intent is to destroy America,and get paid to do it, its a “twofer”
Odongo needs a good dose of castor oil...but then...we’d only be left with an empty suit!!
Idiot doesn’t have the sense to realize that companies do not pay taxes. If you get rid of tax breaks thus raising taxes on the company they will pass that on to the consumer and then we see gas prices go UP. Obozo is part of the problem, not the solution.
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