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