On Gas Prices, Obama Should Lead or Get Out of the Way

Companies get depreciations. Families get home mortgage deductions. Oil companies get tax breaks to take high risk to invest $$$ billions. Unlike depreciations and mortgage deductions, Government receives oil royalties or oil to fill National oil reserve from oil companies. Forget the jobs here in America from oil and money for oil not shipped overseas.

_____ But you complain didn't you. Well look what Clinton and obamaoil did to us...

“The 1995 Outer Continental Shelf Deep Water Royalty Relief Act (DWRRA - courtesy of Bill Clinton) exempted royalties on defined amounts of deep water production. After its 2000 expiration, the law was redefined and extended to promote further deep water drilling. ”

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Senator barry’s involvement:

“The 2005 Energy Policy Act was one of the friendliest ever with over $10 billion in handouts. It lets oil giants pay federal royalties in barrels of oil and grants exemptions on some wells, subsidizes a new R & D program for ultra deep water drilling and unconventional oil and gas development, creates hundreds of millions of dollars in new tax breaks, increases what oil and gas companies can deduct on pipeline expenses, provides more liability protection besides the $75 million cap (established by the 1990 Oil Pollution Act after the 1989 Exxon Valdez disaster, an amount too small to matter)."

“As an Illinois senator, six months into his term, Obama supported it, an early clue to where he stood, and how he hoped to gain - the usual "you scratch my back, I'll scratch yours" payoff.”

“It worked hugely with BP, the Center for Responsive Politics (CRP) reporting that its employees and political action committees gave more to him than to any other federal candidate in the past 20 years.”

“During his 2008 campaign, CRP reported that the oil and gas industry overall gave him $884,000, more than any to other lawmaker except John McCain, and no wonder. His Senate voting record showed what they bought:"

“the right of mining companies to strip mine everywhere, including on government lands;

vast new powers and handouts to the nuclear industry;

harmful biofuels production;

lax regulation; and

other pro-business, anti-populist measures - besides supporting the 2005 Energy Policy Act."

“Obama promised change, and delivered betrayal - evident now in the Gulf, America's greatest ever environmental disaster, fast becoming the most catastrophic in history, a shameless addition to his resume, already revealing a world class rogue and failed president less than a year and half into office. No wonder calls for his impeachment have begun, including by James Petras on May 27, on the Progressive Radio News Hour, hosted by this writer who wholeheartedly agrees.”

Don’t forget barry’s waver to worst polluter in Gulf, Who else, barry’s buddy, BP. There is more, enjoy reading link...

http://warisacrime.org/node/52692

Bill Hedges of MO 5:52AM May 19, 2011

In the gulf we have extensive oil pipeline. In Alaska that pipe line is dying due to lack of oil supply.

Berry has been in Texas promising citizenship to illegals. When Democrat had full control of Congress, why was it not done then ? Why didn’t barry shut down birthers like McCain did and show birth certificate at same time ? Why did barry want control of census & put Acorn in control of count. Why did barry want Acorn involved in obamacare. Why over 4 year wait for all of obamacare. Did barry tell us four year wait ?

Controversy. Class envy.

He thrives on it. Members of Acorn are still going to jail, barry’s government money vote machine is now underground. Now berry is developing another voting machine. Open up WIDE S/S benefits, medicare, medicade, etc.. Give illegals all welfare benefits to all in America. WE CAN AFFORD IT ? AND MORE COMING IN.

Acorn went to the board meetings of banks. To the President of banks homes. Acorn & barry got SUB-PRIME. The people who got those home loans must be SO PLEASED. Wall Street must be SO PLEASED.

So what do liberals do, say recession was Bush fault. Cost of wars had nothing to do with Wall Street crash. Home loans going default did. Wall Street bought those bad home loan papers Now worthless. There recession took the tumble throughout America.

barry was there in the beginning of the recession and helped it happen. Now he wants a second term. Taking advantage of a bad situation. He now says drill. He will again say NO. It chances to fit his needs...

Bill Hedges of MO 5:25PM May 16, 2011

The crime here is that Obama waited 2 years to do this - we would have started seeing the first oil from the new wells by now.

Contrary to his baldfaced lie that the lead time from drill to gas station is nine years, the truth is that the flow starts in a matter of months, as the easy small wells or formerly capped-off wells come online. That flow then ramps up over a few years, hitting its plateau in 9 years, but during that 9 years, the flow is significant, and the effect of knocking the knees out from under speculators is even more significant.

As usual, he lied to give his buddies in "Green Energy" a leg up. His plan to strangle and demonize the oil companies and raise gas prices to a stable $5.00 - $10.00 per gallon is what is required before his pet ethanol, solar, wind, and electric car companies make some degree of economic sense - With Federal subsidies to prop them up in the meantime, naturally. Take away those subsidies, and gas would have to get to $20/gallon before those "green energy" companies would start to make a small profit, never mind how much economic hardship it would cause to poor and middle-income families.

The roll-out of enough "Green Energy" to take any measurable market share is truly a decade down the road, even with subsidies or $20/gallon gas proping them up. That is the part that made his energy policy so insane.

But have no fear - inflation will pay off the Federal budget even if the tax rates stay the same - Of course, your 401(k) may decrease 90% in value, but Green Energy is worth impoverishing the millions of people who scraped and saved and thought they'd be rewarded by retiring millionaires. But Obama would tell you that you're just being greedy, and individual sacrifice for personal gain is reprehensibly evil - Only "shared sacrifice" for the "public good" is worthy of praise in the Obama Economy.

Charlie of TX 11:39AM May 14, 2011

As long as we have a president in office who cares about no one but himself we will continue to see our country spiral down into a deep abyss. If the people of the US cannot see what he is doing to destroy our country, then they deserve his so called leadership.

Until we have leadership that will let us drill oil offshore and in the states that have large vasts of it, we will continue to have unemployment and more and more welfare being given out, because of this.

Linda K. Hudson of IN 8:58AM May 14, 2011