Ed Henry to Jay Carney: Why did the president support tax breaks for big oil in 2005?

posted at 5:25 pm on March 29, 2012 by Tina Korbe

It’s the president’s present answer to high gas prices: End tax breaks for oil companies! He didn’t always sing the same tune, though. As a U.S. senator in 2005, the president voted for an energy bill that included more than $2 billion in tax breaks for oil companies.

Fox News’ Ed Henry called the president on this hypocrisy today by posing a question to poor Jay Carney, who had no explanation. From The Right Scoop comes the exchange (click the image to watch):

Carney: What I can tell you Ed is that the oil and gas companies in this country are making record profits, now, in 2012. The price at the pump is very high and that is plenty of incentive for these companies to continue drill, to continue to explore, to continue to develop energy sources here in the United States and abroad. There is no reason for the American taxpayer to subsidize that activity.

Henry: So why’d he vote for it?

Carney: I haven’t examined the vote, or what the prices were at the time, or the whole bill it was attached to. What I know and what the President knows is that this year, 2012, when we are seeing high prices at the pump, high prices in the international oil markets and high profits for the oil and gas companies, there is no reason to continue these kinds of subsidies. Take that argument to the people, I don’t think they’ll go along with it.

Carney inadvertently hinted at a partial explanation for the president’s anti-oil-and-gas-company rhetoric: It plays well with the American people. According to a recent poll, Americans do, in fact, hold oil companies and oil-producing countries more responsible for high gas prices than the president.

The president repeatedly fails to mention, however, that the tax code actually doesn’t favor oil and gas companies over renewables. If he’s going to end subsidies, why not just end all of ‘em?


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Because HEY LOOK OVER HERE SHINY RACE RIOTS IN FLORIDA

Good Lt on March 29, 2012 at 5:27 PM

Jay Carney is such a tool.

islandman78 on March 29, 2012 at 5:28 PM

ObaMao is a lying, hypocritical POS. And so is his frontman, Carney. That’s the answer to the question.

cicerone on March 29, 2012 at 5:29 PM

Skillets and skittles we much.

Touré syndrome.

Rixon on March 29, 2012 at 5:30 PM

I think that deep down Carney hates himself and what he has become.

NapaConservative on March 29, 2012 at 5:31 PM

ObaMao is a lying, hypocritical POS. And so is his frontman, Carney. That’s the answer to the question.

cicerone on March 29, 2012 at 5:29 PM

Just say SCOAMF

Rixon on March 29, 2012 at 5:31 PM

According to a recent poll, Americans do, in fact, hold oil companies and oil-producing countries more responsible for high gas prices than the president.

…I hope that’s one of those phony socialist media “polls” that over count d-cRAT socialists and not an honest, accurate Rasmussen poll. I’d hate to think that normal people are that uninformed/misinformed.

TeaPartyNation on March 29, 2012 at 5:31 PM

Ed Henry to Jay Carney: Why did the president support tax breaks for big oil in 2005?

RECALCULATING…….

ted c on March 29, 2012 at 5:33 PM

This guy is an even bigger fool than Gibbs, if that’s possible. May he be there, until Jan. 20th, 2013.

Schadenfreude on March 29, 2012 at 5:33 PM

Team Obama loses once again!
——————————

US Senate defeats oil subsidies bill despite Obama’s call for Congress to pass the bill –

@nationaljournalStory
Submitted 2 hours ago from nationaljournal.com
http://www.breakingnews.com/
=============================

Updated: March 29, 2012 | 2:08 p.m.
March 29, 2012 | 11:57 a.m.
http://nationaljournal.com/domesticpolicy/despite-obama-s-call-senate-blocks-oil-subsidies-bill-20120329
*****************************************

US President Obama says oil companies are raking in record profits, must cut tax subsidies to them – @ReutersStory

Submitted 4 hours ago from af.reuters.com
==========================================

@markknoller tweeted:
*********************

In Rose Garden, Pres Obama says the three biggest U.S. oil companies took home more than $80 billion in profit & dont need US subsidies.

Submitted 4 hours ago from twitter.com/markknoller
http://www.breakingnews.com/
============================

canopfor on March 29, 2012 at 3:17 PM

canopfor on March 29, 2012 at 5:33 PM

If he’s going to end subsidies, why not just end all of ‘em?

Hahahaha!! Gasp! Wheeze!

Yeah, Barry will get right on that!

GarandFan on March 29, 2012 at 5:33 PM

Why did the president support tax breaks for big oil in 2005?

Quid pro quo
and
pay-for-play
and
kickbacks
and
services provided against cash
and…..
you get the idea

burrata on March 29, 2012 at 5:37 PM

Jay Carney: He intended to vote “Present”…

d1carter on March 29, 2012 at 5:38 PM

Oh Sh*t,O/T,another thread coming!
———————————–

NJ Gov. Christie tells Oprah he’ll be ‘much more ready’ for White House run in 2016

Submitted 4 mins ago from http://www.politico.com
http://www.breakingnews.com/
=============================

March 29 2012-5:06PM EDT

http://www.politico.com/blogs/burns-haberman/2012/03/christie-says-hell-be-much-more-ready-for-white-house-119105.html

canopfor on March 29, 2012 at 5:38 PM

He needs to change his name to Carnival!

KOOLAID2 on March 29, 2012 at 5:38 PM

Answer: He did not know what he was doing then, he does not know what he is doing now.

albill on March 29, 2012 at 5:38 PM

Can you imagine being the person selected to be the press secretary for this bumbling idiot sycophant in chief? Your career outside the time you spent as press secretary would be limited to working for other liberal progressive socialist pigs forever.

He must be getting paid pretty good to permanently slaughter his future like that. Pretty lucrative stuff I guess, lying your ass off daily for a communist posing as a president.

Wolfmoon on March 29, 2012 at 5:39 PM

Good thing President Open Mic got out ahead of the vote in the senate today and pointed his bony finger at big oil, so he could blame a do nothing congress when they didn’t pass the end of subsidies as big oil knows them. He was for the subsidy before he was against it. Of course, he doesn’t mind subsidizing big oil in Brazil. Maybe Ed could ask Carney about that next time.

Kissmygrits on March 29, 2012 at 5:40 PM

Ed Henry !!!!!!!!!!!
Blossoming at FOX News
Who knew?

FlaMurph on March 29, 2012 at 5:41 PM

Liberals honestly believe higher energy prices are good.

Grunt on March 29, 2012 at 5:42 PM

RECALCULATING…….

ted c on March 29, 2012 at 5:33 PM

My old Garmin says that. We named her Betty. Time for a name change?

Bmore on March 29, 2012 at 5:43 PM

Ed Henry to Jay Carney: Why did the president support tax breaks for big oil in 2005?
=====================

Because Hopey was working his way up to be Prez,and he
was playing a Centralist,is my guess!

canopfor on March 29, 2012 at 5:43 PM

He needs to change his name to Carnival!

KOOLAID2 on March 29, 2012 at 5:38 PM

KOOLAID2:Yes,and add BARKER to the end of dat!:)

canopfor on March 29, 2012 at 5:44 PM

All statements / expiration date – Geraghty Rule

ExpressoBold on March 29, 2012 at 5:44 PM

Henry: So why’d he vote for it?

Obama: I voted for it before I voted against it.

timberline on March 29, 2012 at 5:45 PM

Can you imagine being the person selected to be the press secretary for this bumbling idiot sycophant in chief? Your career outside the time you spent as press secretary would be limited to working for other liberal progressive socialist pigs forever.

The same thing applies to the Solicitor General who got trotted out to defend the administration’s sh!t sandwich in front of SCOTUS this week.

He looked incompetent because the marching orders he gave him were to defend the indefensible.

Now that the law looks doomed, people are piling on him for doing a bad job instead of saying “Wow, I guess the bill is just THAT poorly written.”

teke184 on March 29, 2012 at 5:46 PM

Why did the president support tax breaks for big oil in 2005?

Bush made him do it ;-)

burrata on March 29, 2012 at 5:49 PM

I get so sick of this ‘subsidies’ meme.

Most of what people are calling subsidies are tax credits than just about any business can get. There are a few that are unique to other businesses that develop and extract natural resources, but it is not like the government is writing checks to Chevron and Exxon like they do to say farmers and pseudo farmers subsidies

LegendHasIt on March 29, 2012 at 5:49 PM

Ed Henry to Jay Carney: Why did the president support tax breaks for big oil in 2005?

Hopefully, the WH will get the “eloquent” Donald Verilli to argue the defense of OPBZO’s past vote. That should prove to be as side-splitting funny as his laughable “defense” of OBOZOCARE at SCOTUS.

BTW: Verilli didn’t have to stoop to trying to defend the indefensible OBOZOCARE atrocity. He could have shown the courage that Archibald Cox and Eliot Richardson did when they were ordered to do a similarly reprehensible, indefensible action by Nixon and RESIGN with their dignity and self-respect in tact.

TeaPartyNation on March 29, 2012 at 5:49 PM

Isn’t it kind of racist to bring up what our historic young inexperienced presidebt has done in the past or to even quote what he has said?

jukin3 on March 29, 2012 at 5:49 PM

I say, lets put dear joe in carneys spot? Who would be worse?

BTW, I sure do miss Tony Snow, the best in my memory.
L

letget on March 29, 2012 at 5:49 PM

BTW: Verilli didn’t have to stoop to trying to defend the indefensible OBOZOCARE atrocity. He could have shown the courage that Archibald Cox and Eliot Richardson did when they were ordered to do a similarly reprehensible, indefensible action by Nixon and RESIGN with their dignity and self-respect in tact.

Cox and Richardson quit rather than discharge an independent counsel investigating Nixon. I don’t know of a SG who quit because they didn’t feel they could argue the government’s case.

teke184 on March 29, 2012 at 5:51 PM

0bama is continuing his policy of seperating himself from Congress, and we in the TEA Party want to assist him with that effort by kicking out the LIBERAL congress critters and putting in place actual representatives.

Whether 0bama or Sketchy wins, the fight will be the same. Us against Communist styled Socialist programs.

DannoJyd on March 29, 2012 at 5:54 PM

Quit calling it a subsidy. Not giving money you earn to the government is not the same as the government giving you money you didn’t earn.

All money derives from transactions between producers and consumers; it is not some sort of economic manna from government heaven. We give it to the government by our consent for our purposes. The government does not give it to us out of its beneficience.

Sorry to carp but this adopting of the bass-ackward liberal talking points is self-defeating.

Mr Snuggle Bunny on March 29, 2012 at 5:57 PM

This Ed Henry fellow, didn’t he come from CNN? How is it he is doing such a great job of getting under the WH spin? I’m amazed.

I’m bettin’ there’s a bunch of CNN, ABC, NBC, and CBS people who are tired of shilling for the Prez. It’s time to let the animals out of the cages!

Release the media! Free the journalistic spirit! Go Ed Henry!

MaxMBJ on March 29, 2012 at 6:00 PM

Just out of curiousity – has the oil & gas industry ever NOT been making record profits? I mean, according to the lefties?

I’ve never heard them say that the level of profits is just right.

landshark on March 29, 2012 at 6:01 PM

It’s the president’s present answer to high gas prices: End tax breaks for oil companies!

How to lower the price of oil: Raise taxes on oil companies!
How to lower the price of solar panels: Lower taxes on solar-panel companies!
How to lower the price of health care: Raise taxes on health care!
How to lower the price of college: Lower taxes on colleges!

Fabozz on March 29, 2012 at 6:01 PM

According to a recent poll, intellectually lazyAmericans do, in fact, hold oil companies and oil-producing countries more responsible for high gas prices than the president.

There-fixed.

hillsoftx on March 29, 2012 at 6:02 PM

Doh!

Tim_CA on March 29, 2012 at 6:07 PM

Don’t listen to this nonsense, that’s their answer for everything: I’ll take it to the people. It’s the same thing he said during the debt ceiling debate: “don’t call my bluff, Eric, I’ll take it to the people”.

That’s his answer for grabbing all the power he wants: the people want him to do all this crap. The people want him to take ownership in the auto industry, the banking industry, the mortgage industry, the student loan industry, the health care industry, raise the debt all you want, borrow ad nauseum, pass bogus stimuli that do nothing to move us into prosperity. Rush was right: when the polls favor him, it’s a mandate for unlimited power; when the polls are against him, the people answer polls stupidly. There is no scenario in his mind where every rational American does not completely agree with his political agenda.

Same thing with the jobs bill: he made a joint session address saying “pass my bill RIGHT NOW” but didn’t submit it to Congress until a week later. Meanwhile, he’s going around the country saying “they need to pass my bill now” “they need to pass my bill now” “they need to pass my bill now” while Republicans passed 15 different jobs bills, most of which already did the things he proposed, and Reid was in no hurry to bring any of those bills, nor the president’s bill, to the Senate floor.

The Schaef on March 29, 2012 at 6:10 PM

Political silliness. Gas prices will moderate over the Summer and drop next Fall, just like they always do.

TouchdownBuddha on March 29, 2012 at 6:12 PM

Aren’t these “subsidies” actually income tax deductions for legitimate business expenses? That is, the oil companies are paying money for legitimate purposes and deducting those expenses as business deductions. At best–AT BEST–the only argument is that they are being able to deduct when they ought to capitalize the expense and then depreciate that amount over a number of years and the period over which they can depreciate might be shorter than they might be. In short, we’re talking about timing differences.

The point is that Obama gives boneheaded supporters the impression that Congress is writing checks to the oil companies (that is, subsidies), and that’s just false.

BuckeyeSam on March 29, 2012 at 6:15 PM

As Rush often says, “a random act of journalism”. Notable because it has become so exceedingly rare.
And because ‘rebellion’ against the status quo is so easy, we can expect more of it for that reason alone. Ambitious journalists will do it more often, because it is now the easiest way for them to stand out from the herd of Democrat stenographers.

rayra on March 29, 2012 at 6:17 PM

I wonder who the 2 RINOS were that voted to end “subsidies” today. I’ll take a stab and say the Maine twins…perhaps Lugar.

SouthernGent on March 29, 2012 at 6:20 PM

Ed Henry !!!!!!!!!!!
Blossoming at FOX News
Who knew?

FlaMurph on March 29, 2012 at 5:41 PM

Agreed. Ed has been unleashed at FOX. Good stuff.

msupertas on March 29, 2012 at 6:22 PM

I’m more surprised golf-pants didn’t vote present.

jdkchem on March 29, 2012 at 6:25 PM

Carney wanted to say:

“Well, Ed, as you know, back in 2005 it was more politically expedient to give big oil some breaks, After all, what was their average per gallon price? $1.85? Now that energy prices have skyrocketed, necessarily, it is time to end the subsidies for Big Oil. For the sake of political expedience.”

BigAlSouth on March 29, 2012 at 6:28 PM

Ed Henry to Jay Carney: Why did the president support tax breaks for big oil in 2005?

The follow-up should be “Did he actually vote for it, or just voted [PRESENT], which seems to be his modus-operandi”?

Even then, it’s hard for anyone to expect ANY follow up on this story, regardless of what happened in Florida.

Will there be jokes on Conan or Leno? Will the NYT publish an op-ed zinger?

*If* this story lasts past TONITE, let alone the FNDD, I will be shocked.

BlaxPac on March 29, 2012 at 6:31 PM

Carney: I haven’t examined the vote,

Ya dork, he voted for it! You can’t EXAMINE a vote. It’s either yes or no.

MORE Proof Zero is a hypocrite and wants it both ways.

TX-96 on March 29, 2012 at 6:32 PM

Why didn’t conservatives hold Bush accountable for high gas prices in 2008? Oh, right. Crickets.

lostmotherland on March 29, 2012 at 6:36 PM

Why wouldn’t oil exploration be a usual and necessary business expense for an oil company just like equipment, payroll, phone, etc. etc.? What they are talking about is penalizing oil companies becasue a weak dollar and inflation are sending gas prices through the roof.

tommyboy on March 29, 2012 at 6:46 PM

Why didn’t conservatives hold Bush accountable for high gas prices in 2008? Oh, right. Crickets.
lostmotherland on March 29, 2012 at 6:36 PM

As I recall Bill O’Reilley was all over the Republicans on high gas prices for about a year. It was his “talking points” topic at least once a week.

tommyboy on March 29, 2012 at 6:50 PM

Baghdad Jay!

rjoco1 on March 29, 2012 at 6:53 PM

tommyboy on March 29, 2012 at 6:46 PM

From what I understand, a lot of the ‘subsidies’ are merely allowing them, along with most other industries/business, to use accelerated depreciation methods on their capital purchases.

The Horror!!!

BigWyo on March 29, 2012 at 6:59 PM

Oh, and Dear President Four Putt, You SUBSIDIZED Solyndra…i.e. gave them money….

Allowing a business to keep more of what they earn isn’t a subsidy…

You lie….

BigWyo on March 29, 2012 at 7:04 PM

Quit calling it a subsidy. Not giving money you earn to the government is not the same as the government giving you money you didn’t earn.

All money derives from transactions between producers and consumers; it is not some sort of economic manna from government heaven. We give it to the government by our consent for our purposes. The government does not give it to us out of its beneficience.

Sorry to carp but this adopting of the bass-ackward liberal talking points is self-defeating.

Mr Snuggle Bunny on March 29, 2012 at 5:57 PM

Amen and amen. +1000

Nutstuyu on March 29, 2012 at 7:13 PM

Somebody should have asked Carney: “Exactly HOW would raising taxes on the oil companies result in lower gas prices?”

I can’t decide if the answer would involve unicorns, or underwear gnomes.

Socratease on March 29, 2012 at 7:32 PM

What Democrats can never seem to rap their minds around is that most producers are global companies. It doesn’t make one bit of difference to them if we eliminate our tax incentives, they’ll just move their equipment to a more economically viable location. Be it Finland, Canada, Iraq, etc. They don’t have any allegiance to the U.S. government but they do to their stockholders.

lowandslow on March 29, 2012 at 7:45 PM

Good gravy. Why don’t the forces of good save these silver bullets for when The One is on the podium instead of his lackey?

321mdl on March 29, 2012 at 11:29 PM

Remember Seabiscut? We lost our way when we stopped loving the little guy who made his own breaks and used guts, invention and determination to solve problems.

Could we suspend the age requirement for POTUS?

I keep seeing some “Suzy” that is running the heck out of a lemonade company on TV.

We can get a veep with some food industry ties, like maybe pizza.

It would be so nice to hear from someone who isn’t trying to make their dreams come true with our grandkid’s money.

IlikedAUH2O on March 30, 2012 at 6:19 AM

321mdl on March 29, 2012 at 11:29 PM

The press secretaries are role models for white males.

He is the sweet, dull gelding serving the patriarch and asking not to be whipped.

Reminds me of every other white male in this country.

IlikedAUH2O on March 30, 2012 at 6:24 AM

Zero voted for the subsidies before he voted against them. Why not double down on gas prices ? They are only $4.35 here in So Cal. For the Libs outside of Hollywood, we need prices at twice that before the Jerry Brown voters get upset.

democratsarefools on March 30, 2012 at 11:37 AM

What do you know, here’s a glimpse of the past of the lying POS living in the white house. Must have been only one of a couple of times the liar didn’t just vote present.

jqc1970 on March 30, 2012 at 5:29 PM