for that failure is that some of those profits are being continuously
recycled to win the support of pliable legislators, underwrite
misleading advertising campaigns and advance an energy policy defined
solely by more oil and gas production.
Gee, This is identical to unions and union dues...
As to "OIL subsidies"... they enjoy not one bit more in deductions or
subsidies than any other industrial section of society. Only because
they are very profitable are you playing the class warfare card on
them.
I guess you'd be happier if they all moved offshore like the majority
of other base industries....like mining, steel production, circuit
board producers, and countless other high income, high paying, jobs
and employers.
Gas prices have nearly doubled under Obama.... just as they did under
Carter... coincidence? I think not. Both stopped issuing the needed
number of exploration and drilling permits to keep the futures market
in petrochemicals under control... and placed big bets on a still non-
viable or profitable solar industry.
Yet you think NOTHING about the hundreds of billions of dollars these
"green energy" companies take from the government only to soon go
bankrupt because they can't produce a product that is acceptable and
affordable.
Just as solar is a bet on the future so are exploration and drilling
permits... they take 5 to 10 years to have an effect.... any hole in
the process is rightfully reflected in the futures market...TODAY.
On Mar 31, 8:08 am, Tommy News <tommysn...@gmail.com> wrote:
> EditorialBig Oil's Bogus CampaignNYTimes Published: March 30, 2012
>
> Despite pleading by Mr. Obama, the Senate on Thursday could not
> produce the 60 votes necessary to pass a bill eliminating $2.5 billion
> a year of these subsidies. This is a minuscule amount for an industry
> whose top three companies in the United States alone earned more than
> $80 billion in profits last year. Nevertheless, in the days leading up
> to the vote, the American Petroleum Institute spent several million
> dollars on an ad campaign calling the bill "another bad idea from
> Washington — higher taxes that could lead to higher prices."
>
> President Obama and the Senate Democrats have again fallen short in
> their quest to eliminate billions of dollars in unnecessary tax breaks
> for an oil industry that is rolling in enormous profits. A big reason
> for that failure is that some of those profits are being continuously
> recycled to win the support of pliable legislators, underwrite
> misleading advertising campaigns and advance an energy policy defined
> solely by more oil and gas production.
>
> Studies by the Congressional Research Service, among others, say that
> ending these tax breaks would increase prices by a penny or two a
> gallon. Yet all but two Senate Republicans have been conditioned by
> years of industry largess to accept its propaganda. In the last year,
> the industry spent more than $146 million lobbying Congress. In
> Thursday's vote, senators who voted to preserve the tax breaks
> received more than four times as much as those who voted against.
>
> Money has always talked in Congress. Now industry allies are aiming at
> voters. The American Energy Alliance, a Washington-based group that
> does not disclose its financial sources, on Thursday began an ad
> campaign in eight states with competitive Congressional races.
>
> Voters in Michigan, Virginia, Florida, Ohio, Iowa, Nevada, New Mexico
> and Colorado will hear a 30-second spot peddling the industry's
> misleading arguments against the Obama administration's energy
> policies — including the fiction that those policies have led to
> higher gas prices: "Since Obama became president," it says in part,
> "gas prices have nearly doubled. Obama opposed exploring for energy in
> Alaska. He gave millions of dollars to Solyndra, which then went
> bankrupt. And he blocked the Keystone pipeline, so we will all pay
> more at the pump."
>
> Four sentences, four misrepresentations. Gas prices, tied to the world
> market, would have gone up no matter who was president. Mr. Obama has
> not ruled out further leasing in Alaskan waters. Solyndra, a solar
> panel maker, is the only big failure in a broader program aimed at
> encouraging nascent energy technologies. The Keystone XL oil pipeline
> has nothing to do with gas prices now and, even if built, would have
> only a marginal effect.
>
> The message war has really just begun.
>
> The oil industry has the money, but Mr. Obama has a formidable megaphone.
>
> He must continue to use it.
>
> --
> Together, we can change the world, one mind at a time.
> Have a great day,
> Tommy
>
> --
> Together, we can change the world, one mind at a time.
> Have a great day,
> Tommy
--
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