Obama stuck on repeat: End subsidies for big oil

posted at 2:20 pm on March 17, 2012 by Tina Korbe

For the fourth straight week, energy issues dominated the Democratic and Republican weekly addresses. I wonder why they bother to make new videos: The president and whoever is the Republican-of-the-week say the same thing every time. Just replay the first energy-themed addresses and leave it at that!

As long as the president is going to repeat his call to end subsidies for big oil, though, I’m going to echo it with the call to end all energy subsidies. As I’ve written before, it’s a myth that the tax code favors oil over renewables; in fact, under the Obama administration, renewable energy has been and continues to be more heavily subsidized by tax carve-outs than any other energy sector. We all know how those alternative energy subsidies have worked out for us. It doesn’t matter who the cronies are; crony capitalism is the problem.

The president also implied in his address that high prices right now might be partially the fault of traders “who distort the price of oil, and make big profits for themselves at your expense.” But Daniel Yergin, chairman of IHS Cambridge Energy Research Associates, explains in The Wall Street Journal that “the oil market is [just] reading the front page.” The price reflects what’s going on in the world. Far from a distortion, it’s the one reflection we have of the state of American energy today. Yergin writes:

In 2012, the reason is mainly geopolitics. Last November, the United Nations declared that Iran was clearly developing nuclear-weapons capabilities. The West is responding with sanctions aimed at reducing Iran’s ability to export oil, on which it depends for more than half of its government revenues, to get it to halt its nuclear-weapons program. Tehran has answered by conducting large naval exercises and threatening to close the Strait of Hormuz, through which passes some 35% of the world’s oil exports.

Global oil prices and U.S. gasoline prices have both risen about 20% since mid-December. And all this is occurring in a world oil market that is already tight, tighter than it was last year, with no more than 2.5 million barrels of spare capacity. At least half a million barrels a day are currently out of the market because of disruptions in South Sudan and Yemen and civil war in Syria.

A market this tight would already be susceptible to upward price pressures. But the market is operating on expectations that supplies will become even tighter as new U.S. and European sanctions against Iran take effect and the risk of military conflict increases.

These facts actually work in Obama’s favor; there’s no need for him to invoke traders “who distort the price of oil.” Still, while it might be true that the president isn’t responsible for every factor currently driving up the price of gas, he also can’t hide the evidence of the first three years of his administration. At every turn, he has pursued an energy policy that punishes oil and gas companies and rewards alternative energy companies. Had he taken a different approach from the beginning, we might not be facing the high prices we do today. Yet, in the face of these high prices, all the president proposes is to double down on his already questionable approach. Perhaps he lacks the humility to learn from his past mistakes.


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Perhaps he lacks the humility to learn from his past mistakes.

Yes, perhaps indeed. Times 1 gazillion.

KS Rex on March 17, 2012 at 5:56 PM

…Obsessive freak…ignore it!

KOOLAID2 on March 17, 2012 at 4:12 PM

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Wow… This one posts the same lame comment over and over. Spamming makes you look so smart KA2. Age much?
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RalphyBoy on March 17, 2012 at 5:56 PM

This is an intellectually vapid bunch. The sooner they’re gone the sooner we can get back to fixing the country.

EMD on March 17, 2012 at 6:00 PM

I only know that wherever and whenever we can, we must match rhetoric with the truth.

itsspideyman on March 17, 2012 at 5:55 PM

It kind of seems to me that if we were to say, “Sure, go ahead and drop those subsidies,” he’d be left with his foot implanted firmly and very obviously in his mouth.

Dee2008 on March 17, 2012 at 6:02 PM

RalphyBoy on March 17, 2012 at 5:56 PM

It was a tactic to rid the thread of a troll. Unfortunately, it created its own problems :)

Dee2008 on March 17, 2012 at 6:04 PM

Dude has cancer, epilepsy, is a heterosexual, male mechanical engineer, and obviously has sexual needs that can only be fulfilled in an anonymous chat room. Plus, he’s only been here a few weeks. So much personal information to share in such a limited amount of time.

a capella on March 17, 2012 at 6:04 PM

Presentdunce OBumbles is using his 4 years in office to destroy the machine of American commerce. Oil/Energy production (or lack thereof) is just one small part of this effort. Please do not interfere or you’ll be called a racist. That is all.
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RalphyBoy on March 17, 2012 at 6:07 PM

Somebody get this post and/or the WSJ article to O’Reilly pronto. He is having difficulty understanding what’s going on with gas prices and unfairly blames oil companies for making their miniscule margin on their big volumne product.

bntafraid on March 17, 2012 at 6:08 PM

Dee2008 on March 17, 2012 at 6:02 PM

:D You gave me a laugh! You’re absolutely right!

itsspideyman on March 17, 2012 at 6:12 PM

It was a tactic to rid the thread of a troll. Unfortunately, it created its own problems :)

Dee2008 on March 17, 2012 at 6:04 PM

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I’ve been too busy to even read HA lately, and the first thread I come to is a full page of off topic and spam… that was painful. I’ll do silly here sometimes too… but KA2 was acting down right mental.
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RalphyBoy on March 17, 2012 at 6:13 PM

EFEPA. Enough said. Call the hypocrats out!

djaymick on March 17, 2012 at 6:14 PM

Dude has cancer

a capella on March 17, 2012 at 6:04 PM

HAD cancer. He’s been in remission for 5 years. He only claims to have cancer now to guilt opponents or get sympathy. This he has admitted.

Resist We Much on March 17, 2012 at 6:14 PM

Somebody get this post and/or the WSJ article to O’Reilly pronto. He is having difficulty understanding what’s going on with gas prices and unfairly blames oil companies for making their miniscule margin on their big volumne product.

bntafraid on March 17, 2012 at 6:08 PM

OMG, doesn’t he drive you crazy with that? He’s like a broken record. Has any informed guest on his program ever agreed with him? You’d think he’d get the hint.

Dee2008 on March 17, 2012 at 6:16 PM

Dee2008 on March 17, 2012 at 6:04 PM

Dee (you want me to quit already after one page on one thread…after we have been putting up with that one for months and months and hundreds of pages?) (:>)

KOOLAID2 on March 17, 2012 at 6:16 PM

KOOLAID2 on March 17, 2012 at 6:16 PM

No KA, you go right ahead. Just be prepared for some negative reactions, because there are still a few HA commenters who haven’t yet been treated to Dr. T’s peculiar brand of trolling. ;)

Dee2008 on March 17, 2012 at 6:28 PM

I always thought that ignore the troll has a good effect. If the troll is attempting to disrupt… why help them?

RalphyBoy on March 17, 2012 at 6:35 PM

How much of this do you think Obama understands?:
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http://www.groco.com/readingroom/oil_gasdepletion.aspx

diogenes on March 17, 2012 at 6:38 PM

I always thought that ignore the troll has a good effect. If the troll is attempting to disrupt… why help them?

RalphyBoy on March 17, 2012 at 6:35 PM

…people keep responding to it, from all over the country…and it is getting old for the regulars that have always been here…where they don’t come on to share their wisdom any longer. It’s like a little kid that wants attention all the time. I don’t want to do it…but I see no other way..because the brightest guy in the world …has no clue. He just destroys thread after thread!

KOOLAID2 on March 17, 2012 at 6:48 PM

No KA, you go right ahead. Just be prepared for some negative reactions, because there are still a few HA commenters who haven’t yet been treated to Dr. T’s peculiar brand of trolling. ;)

Dee2008 on March 17, 2012 at 6:28 PM

Your idea of trolling seems to be a man criticizing one of your cyberbuddies for clearly insulting Tina Korbe for no reason other than be a witch.

You are on board with that, not one criticism of that, and you’ve been attacking me personally on this thread for simply criticizing your cyberbuddy who was in fact kind of being a troll.

Dr. Tesla on March 17, 2012 at 6:50 PM

Let’s hope Dee is not working in our justice system. Good grief, she’s stupid.

Dr. Tesla on March 17, 2012 at 6:51 PM

RalphyBoy on March 17, 2012 at 6:35 PM

RalphyBoy, I noticed you stated you haven’t been around much. KOOLAID2 has and has been very busy trying to fight the good fight. I can tell you this, his techniques may at first glace to appear unorthodox, not true however. Many threads have turned into a wade through process as there is no ignore button on this site. I know you don’t know who I am either. You will just have to trust that this info is correct. Otherwise be our guest to go back and wade through the endless comments of distraction. It is the Dr. method. Hope this is helpful. I do not intend it as anything else.

Bmore on March 17, 2012 at 6:52 PM

Dr.=Dr.’s

Hi Dr.

Bmore on March 17, 2012 at 6:54 PM

KOOLAID has lost his marbles. The guy doesn’t talk on here unless I’m around and it’s all about me. He stalks me.

I’m one of these people who says I’d take anybody over Obama but I think somebody like Koolaid and Dee are probably good exceptions to that rule. Both of them have some IQ problems.

Dr. Tesla on March 17, 2012 at 6:55 PM

Dr.=Dr.’s

Hi Dr.

Bmore on March 17, 2012 at 6:54 PM

I’m not going to talk to you anymore b/c all you do is insult.

I note not one criticism from you regarding ladyingray’s insult of Tina. don’t want to hear you talk to me about trolling again. You have no credibliy on that score.

Dr. Tesla on March 17, 2012 at 6:57 PM

Perhaps he lacks the humility to learn from his past mistakes.

Tina: I do not understand why you end with such a weak conclusion. Obama has nothing to learn here: He knows exactly what he is doing to American’s energy capability, and he knows that what he says in his speeches are lies. Why do you insist on writing as if he is making some innocent mistake?

GaltBlvnAtty on March 17, 2012 at 7:00 PM

He scapegoats the oil companies, but pours endless billions into Solyndra-like companies?

nazo311 on March 17, 2012 at 7:01 PM

Obama has no humility AT ALL.

Period.

He cannot be shamed, either, and will lie to your face and smile about it.

ajacksonian on March 17, 2012 at 7:04 PM

Perhaps he lacks the humility to learn from his past mistakes.

The reality is Allahpundit could have writtten the exact same post and ladyingrey and the others wigging out about it wouldn’t have a problem with it if it came from him. There would be no attacks on AP’s intelligence.

Dr. Tesla on March 17, 2012 at 7:04 PM

It’s hard to believe I’m on the same political team with a lot of these people who post on here. I don’t know how some of them even manage to get jobs.

Dr. Tesla on March 17, 2012 at 7:06 PM

HAD cancer. He’s been in remission for 5 years. He only claims to have cancer now to guilt opponents or get sympathy. This he has admitted.

Resist We Much on March 17, 2012 at 6:14 PM

Well, if she starts spouting about receipes and what she is doing….we may know who she is…*hint, start with A….

lovingmyUSA on March 17, 2012 at 7:13 PM

Dammit, Koolaid2 was right…it IS talking to itself…

lovingmyUSA on March 17, 2012 at 7:17 PM

Dr. Tesla on March 17, 2012 at 6:57 PM

Dr. you must have me confused with someone else. I don’t believe that you and I have ever had a cross word. You helped me out once and for that I have thanked you and left you alone. I harbor 0 animosity towards you. I accept that it is your way.

Bmore on March 17, 2012 at 7:23 PM

As a matter of fact Dr. I had a perfect opportunity early on in commenting here to have you shown the door. Upon the request of a commenter whom I respect I elected not to take the shot. Now don’t go getting all riled up at me for saying shot. It was strictly figurative. Good day to you Dr. and Happy St Patty’s!

Bmore on March 17, 2012 at 7:27 PM

Perhaps he lacks the humility to learn from his past mistakes.

Dr. Tesla on March 17, 2012 at 7:04 PM

…you could write this about yorself

KOOLAID2 on March 17, 2012 at 7:31 PM

Obama stuck on repeat

Yup, and stuck on stupid too. Voters will have their revenge on this little Marxist punk when gas hits $4.50- $6.00/gal.

petefrt on March 17, 2012 at 7:31 PM

KOOLAID has lost his marbles. The guy doesn’t talk on here unless I’m around and it’s all about me. He stalks me.

I’m one of these people who says I’d take anybody over Obama but I think somebody like Koolaid and Dee are probably good exceptions to that rule. Both of them have some IQ problems.

Dr. Tesla on March 17, 2012 at 6:55 PM

…what did Dee do to you?…you have such a high IQ, but you’re several sandwiches short of a picnic basket in other departments goofball

KOOLAID2 on March 17, 2012 at 7:36 PM

The reality is Allahpundit could have writtten the exact same post and ladyingrey and the others wigging out about it wouldn’t have a problem with it if it came from him. There would be no attacks on AP’s intelligence.

Dr. Tesla on March 17, 2012 at 7:04 PM

Wrong, doctor. AP wouldn’t write anything this weak. He is the snark master. (He can also spell).

And since you continually use an ‘e’ in my name instead of an ‘a’, I can only conclude that you aren’t an American, so why the heck should of any of us give a darn what you think?

ladyingray on March 17, 2012 at 7:40 PM

It’s hard to believe I’m on the same political team with a lot of these people who post on here. I don’t know how some of them even manage to get jobs.

Dr. Tesla on March 17, 2012 at 7:06 PM

…let alone run around the country chasing a job…not because we aren’t qualified or smart enough…but we probably can’t get along with our fellow workers because our personality just sucks, where even worms that come out from the rain…try to crawl away before they’re told something is WRONG with them!

KOOLAID2 on March 17, 2012 at 7:42 PM

It’s hard to believe I’m on the same political team with a lot of these people who post on here. I don’t know how some of them even manage to get jobs.

Dr. Tesla on March 17, 2012 at 7:06 PM

Frankly, I don’t think you are on the same political team that I am on. Hell, you can’t even spell ‘gray’.

ladyingray on March 17, 2012 at 7:43 PM

ladyingray on March 17, 2012 at 7:40 PM

…hey…I’ll keep the narcissistic boy/girl busy here while you actually go off and enjoy a thread…I’ll let him/her pound his keys or whatever he pounds… here…

KOOLAID2 on March 17, 2012 at 7:46 PM

Dr. Tesla on March 17, 2012 at 6:55 PM

…what did Dee do to you?…you have such a high IQ, but you’re several sandwiches short of a picnic basket in other departments goofball

KOOLAID2 on March 17, 2012 at 7:36 PM

YOu just violated your own rule…sigh, there is no hope for us…we are doomed to it repeating it’s self in a endless loop…

lovingmyUSA on March 17, 2012 at 7:47 PM

…what did Dee do to you?…

KOOLAID2 on March 17, 2012 at 7:36 PM

Hey thanks KA. I sat here and calmly let him accuse me of being smarmy, hypocritical, stupid, and along with you, having a low IQ. That’s not easy for a Ph.D. like me to swallow, but I try to avoid engaging on that kind of level.

The truth is he clearly was in violation of TOS for being off topic and for being abusive to other commenters. If I knew how to report him I would. As it is, I’ll just drop out of any future conversations where he shows up.

Dee2008 on March 17, 2012 at 7:51 PM

Bmore on March 17, 2012 at 6:52 PM

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I’ll leave it alone after this… At least have fun then. And thanks for the heads up.
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RalphyBoy on March 17, 2012 at 8:00 PM

The reality is that I’ve shown there is a group of people on here who will accuse me of being a troll even when there is no rational basis for that characterization. All I did say I think Tina is an intelligent nice young woman and I don’t understand why ladyingrey felt the need to insult her as “not a thinker” and an “intellectual lightweight”. And I’m being called a troll for this by ladyingrey, Dee, Koolaid, lovingmesomeusa, and their cyberbuddies.

I’m amazed that Dee is accusing me of being off topic when she’s rallied around ladyingrey who insulted TIna just to insult Tina.

Dr. Tesla on March 17, 2012 at 8:02 PM

I think you guys clearly gave up any crediblity you may have had when you falsely play the troll card on me when you chose to charaterize my positive comments about Tina and criticism of the vicious personal attack on her intelligence as trolling.

I would have waited for me to really step into it if I was on a jihad to get me banned.

Dr. Tesla on March 17, 2012 at 8:06 PM

lovingmyUSA on March 17, 2012 at 7:47 PM

…oh no! I’ll talk to it….it promised to ignore me! You guys go have fun! I’ll watch it run around going “LOOK AT ME!..LOOK AT ME!”

KOOLAID2 on March 17, 2012 at 8:07 PM

I won’t take it personally if you guys don’t pay attention to me. I’m a man of true grit and I will deal with whatever happens.

I do think a man is entitled to a self defense and if people are incredibly claiming that I’m a troll simply because I criticized one of their cyberbuddies that has been postiingon Hotair since 1860 because she insulted Miss Korbe, I am going to point that out.

Dr. Tesla on March 17, 2012 at 8:13 PM

I would have waited for me to really step into it if I was on a jihad to get me banned.

Dr. Tesla on March 17, 2012 at 8:06 PM

I don’t want you banned…yet. I prefer to ridicule you at the moment.

You are really kind of stupid. This should be quite fun!!! :D

ladyingray on March 17, 2012 at 8:15 PM

Dr. Tesla on March 17, 2012 at 8:13 PM

Fine, but you still have me confused with someone else. Will you acknowledge that you have confused me with someone else?

Bmore on March 17, 2012 at 8:20 PM

ladyingray, you provided me a huge assist today in making the case against my lynch mobbers as people who hate me so much they will mischaracterize me as a troll even when there’s no logical basis for that accusation. It’s almost like we coordinated it.

Dr. Tesla on March 17, 2012 at 8:20 PM

Fine, but you still have me confused with someone else. Will you acknowledge that you have confused me with someone else?

Bmore on March 17, 2012 at 8:20 PM

I may have, I see no reason to apologize for confusing you with somebody else though. Seems like we have argued before and you have been in on the ban Dr. T jihad.

Lot of people on here seem like clones of each other so I do no doubt get some of you guys confused.

Dr. Tesla on March 17, 2012 at 8:22 PM

Dr. Tesla on March 17, 2012 at 8:22 PM

I did not ask for an apology. We have never argued before. I see no reason to ban you. I am not a clone. You have confused me with someone else.

Bmore on March 17, 2012 at 8:25 PM

Maybe this “talking to myself” stuff could be fun!
No one is trying to get anybody banned, least of all me.
Some people just have no sensitivity sometimes. When you have a cross-section of the country, giving someone clues off and on for months… saying the same thing,just maybe it’s me…and not THEM who might have to adjust a little from our 3rd grade attitude.
(Talking to myself still..) I told this one poster he had some good political points to make sometimes. After a period of time I noticed that those times were mixed with just off the wall behavior to other posters. It wanted respect for its rapid fire staccato of opinions…but everybody else didn’t get the same respect the narcissist required. Someone thought that poster could be mentally ill, or bipolar or something…but figured it may be reaction to medication mixes.Nothing funny about it. Just suggested someone who was otherwise decent…take care of them-self….(to be continued)

KOOLAID2 on March 17, 2012 at 8:27 PM

Bmore,

This may surprise you but sometimes even intelligent, good looking wealthy men get confused about things. I’ll do better in the future but I am getting on up there at age 34. :)

Dr. Tesla on March 17, 2012 at 8:28 PM

Sometimes we’re so busy with “me,me,me” we are not aware of anything else, or anybody else…they all look the same!

KOOLAID2 on March 17, 2012 at 8:30 PM

Dr. Tesla on March 17, 2012 at 8:28 PM

Nothing surprises me.

Bmore on March 17, 2012 at 8:30 PM

Well, I’m going to watch college bball downtown with some girls who go to a local college. I feel like it may be wrong as I’m like 15 years older than them but I do occasionaly like to gaze upon a female.

You guys have a good one.

Dr. Tesla on March 17, 2012 at 8:30 PM

Dr. Tesla on March 17, 2012 at 8:20 PM

Ma’am, you mistake me for someone else. I DO consider you a troll. I just don’t want you banned. Yet. Trolls are fun, kinda like a cat and a mouse…

ladyingray on March 17, 2012 at 8:31 PM

Why am I reminded of Anninca?

McCain Hater on March 17, 2012 at 8:37 PM

Just so we’re clear here, I rely on the Wikipedia definition of troll:

a troll is someone who posts inflammatory,[2] extraneous, or off-topic messages in an online community, such as an online discussion forum, chat room, or blog, with the primary intent of provoking readers into an emotional response[3] or of otherwise disrupting normal on-topic discussion

Recognizing that Wiki isn’t always the most accurate source of information, perhaps someone would like to supply a different definition, in which case I may be persuaded that Dr. T is not a troll. But by the Wiki definition, he most certainly is.

There was absolutely nothing wrong with Dr. T’s first response to Ladyingray’s original comment. He crossed the line into “trollism” when he ignored requests of other posters that he drop the subject and get back to the topic of thread. I believe it was his intent to disrupt the thread. Further his use of insulting terminology to describe other posters was with the intent to provoke an emotional response. Ergo, troll.

Dee2008 on March 17, 2012 at 8:46 PM

Why am I reminded of Anninca?

McCain Hater on March 17, 2012 at 8:37 PM

You and me both. But Anninca’s posts showed a more sophisticated level of thinking. Annoying sometimes, in the way she would keep posting the same thing over and over until someone finally responded, but I actually had some interesting conversations with her.

Dee2008 on March 17, 2012 at 8:50 PM

Dee2008 on March 17, 2012 at 8:50 PM

I think the definition is correct. Oh and you could definately have some interesting conversations with him. ; o You wouldn’t enjoy it though I suspect. ; )

Bmore on March 17, 2012 at 8:56 PM

definately=definitely

Bmore on March 17, 2012 at 8:57 PM

Why am I reminded of Anninca?

McCain Hater on March 17, 2012 at 8:37 PM

I mentioned this further up the thread…if it starts telling us what it ate for supper, or spouts receipes–well then…

lovingmyUSA on March 17, 2012 at 9:02 PM

Subsidies for oil should be ended today. So should subsidies for all businesses. Let them stand or fall on their own. Just like all deductions, exemptions, exclusions, credits, allowances, etc. etc. should be eliminated from personal income tax.

independentvoice on March 17, 2012 at 9:03 PM

I believe it was his intent to disrupt the thread. Further his use of insulting terminology to describe other posters was with the intent to provoke an emotional response. Ergo, troll.

Dee2008 on March 17, 2012 at 8:46 PM

Yes. His posts usually devolves the thread into a direction that makes him the center of attention. That appears to be his single intent, in evey thread.

Note also that he is not really net savvy, as per a capella:

Dude has cancer, epilepsy, is a heterosexual, male mechanical engineer, and obviously has sexual needs that can only be fulfilled in an anonymous chat room. Plus, he’s only been here a few weeks. So much personal information to share in such a limited amount of time.

a capella on March 17, 2012 at 6:04 PM

You can add to the above post that fact that he has given information that strongly suggest or confirms that he also:

Moved from Maryland to near State College, Pa. for his job, where he works for a consulting company that also services the mining industry in the far north. He has yet to register his car in Pa. to avoid the taxes. He is 35 years old.

Also, his employer might not be happy with some of his disparaging remarks about some clients and their projects in remote areas, that he absolutely fears being sent to in the future.

Not a smart troll. Especially not a wise troll. Something wrong here.

Yoop on March 17, 2012 at 9:03 PM

You and me both. But Anninca’s posts showed a more sophisticated level of thinking. Annoying sometimes, in the way she would keep posting the same thing over and over until someone finally responded, but I actually had some interesting conversations with her.

Dee2008 on March 17, 2012 at 8:50 PM

Heh… I found her very boring. In fact I quit reading HA for awhile because of her, and I’m about to quit again. There are other conservative sites to read where I don’t have to put up with the asinine comments of Telsa

McCain Hater on March 17, 2012 at 9:06 PM

Yoop on March 17, 2012 at 9:03 PM

I had originally been told he was kin to someone here. I have just been informed that, that is not the case. This information changes everything. And you are correct, something is wrong here. Oh and Happy St Patty’s Day!

Bmore on March 17, 2012 at 9:25 PM

Not a smart troll. Especially not a wise troll. Something wrong here.

Yoop on March 17, 2012 at 9:03 PM

Yes. She is an idiot.

ladyingray on March 17, 2012 at 10:55 PM

Can someone show me the “subsidies for big oil”? Seriously.

I’ve been looking, and I’ve only found 3 that are commonly claimed.

1) The depreciate their land once they remove the oil, as it’s worth less. And depreciating assets that reduce in value is common in all businesses… so I’m not seeing that as an “oil subsidy” as such.

2) They write off their losses when their exploration doesn’t pan out and they lose moeny. But last I checked I write off my losses when I lose money in the stock market… again I’m not seeing the “big oil subsidy” part of this.

3) Now the third one IS an explicit tax cut. All Manufacturers in the US get a 9% tax reduction for their manufacturing if it’s done wholly within the US. And the Oil companies get this… but they only get 6%. So they get a lesser tax break than if they had a product other than oil.

So far I’ve not seen a subsidy that in fact is oil specific, and is one that other companies don’t also get… but I’m sure I’m just missing it.

Can someone show me these massive oil subsidies?

gekkobear on March 18, 2012 at 3:52 AM

You want “repeat”???

I’ll give you “repeat”!!!

Shy Guy on March 18, 2012 at 5:53 AM

Subsidies for oil should be ended today. So should subsidies for all businesses. Let them stand or fall on their own.

Agreed.

Just like all deductions, exemptions, exclusions, credits, allowances, etc. etc. should be eliminated from personal income tax.

independentvoice on March 17, 2012 at 9:03 PM

Are you going to lower the income tax rates as well?

ladyingray on March 18, 2012 at 9:37 AM

Can someone show me these massive oil subsidies?

gekkobear on March 18, 2012 at 3:52 AM

There are NONE. There are three minor subsidies that have nothing to do with drilling and are for small cap wells.

In his not-so-subtle way to anyone who knows the truth, Obama is wanting to raise taxes on oil companies by taking away the investment credits that every business gets and the double-taxation on overseas income that every business gets.

Obama wants to punish oil companies for doing business like any other in the United States.

This is all about generating more taxes, which all businesses pass on to their customers.

itsspideyman on March 18, 2012 at 10:55 AM

This must be the 40th anniversary of ‘end our dependence on foreign oil’. They will ride that dead horse into the next century. There are some businesses that must have a secure gas supply and buy into the future. No one is talking about inflation as the biggest cause of the hike in oil prices. I’m waiting for the shoe to drop.

Kissmygrits on March 18, 2012 at 1:41 PM

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