By Douglas V. Gibbs
The big government liberal left Democrats hate it when anyone rakes in more money than them. The Democrats have spent a lot of time and energy demonizing corporations, telling you they can't be trusted, and that those companies make way too much money. The Free Market, unregulated by the government, is a dangerous thing, they tell us. Capitalism is for the greedy. The rich are getting richer, and the poor are getting poorer. Those companies are raking in profits on the backs of the poor, and the laborers.
I've heard that argument before. . . from the now defunct Soviet Union.
Now, just to make their point against those mean ol' oil companies, the Democrats dragged the oil executives before Congress to force them to explain exploding prices at the pump (because it couldn't possibly be the fault of taxation, drilling moratoriums, and a government caused devaluation of the dollar), and to tell them big evil oil executives that their subsidies (err, uh, I mean tax breaks) are going to be eliminated.
The Close Big Oil Tax Loopholes Act is a bill that aims to eliminate tax breaks for the oil companies - which would eliminate tax opportunities for oil companies that other businesses, and individuals, will still have available. . . wait a second, isn't that singling out the oil companies? Whatever happened to equal treatment under the law as per the 14th Amendment?
Then again, remember that the Democrats actually believe that we (and I quote Obama): ". . . only have about 2 to 3% of the world’s oil reserves, and we use 25% of the world’s oil. So when you say we should be using traditional sources, the problem is we’ve got finite sources when it comes to oil."
Are these people nuts? The Dakotas alone have more oil than Saudi Arabia. How is it that we import most of our oil from Canada, and a significant amount from our neighbor to the south, Mexico, yet only have two or three percent of the total oil? And of course we use a lot of oil. So? Oil is not a finite resource (ever heard of Abiotic Oil?). And if we drilled for our own, prices would drop too (Has to do with that supply and demand thing that the Democrats conveniently forget about when it doesn't serve their argument).
The oil executives did not take the attacks by Congress lightly, and stood firm against the leftist liberal progressive Marxist socialist commie bastards. Rex Tillerson, CEO of Exxon Mobil, called the proposal to eliminate big oil's tax breaks "misinformed," "discriminatory" and "counterproductive."
Shell (RDSA) President Marvin Odum also voiced opposition. "It can be tempting to assume that there is something to gain by taking more from a few," Odum said. "However, one must also balance the potential implications of increased industry costs on both supply and price."
The House of Representatives, being under GOP control, will not approve the Democrat's short-sighted bill, but that's not the point. After all, election season is coming, and the Democrats are simply trying to set up yet another attack. The leftist progressive liberal Democrats are betting on the Republicans rejecting the bill so that as the election season approaches they can tell the voters, "See? Those rightwingers are in the pockets of big oil, and we hate big oil."
The Democrats are figuring the tactic will work in their favor since the public seems to be angry over rising gas prices.
As for those rising gas prices, instead of pointing fingers, perhaps the Democrats should look in the mirror. The oil executives had it right when they said that they have little control over prices at the pump and are instead at the mercy of fluctuations in the price of crude oil.
"Everything from the weather to politics and the global economy determines the price of oil and the fuels made from it," Odum of Shell said in a prepared testimony. "No one person, organization or industry can 'set' the price for crude oil."
The oil executives called the proposal un-American, which sent Democrats Chuck Schumer and Robert Menendez into a tizzy.
Senator Jay Rockefeller called the oil executives out of touch (which was a laughable statement when you consider how out of touch the liberal left is). Rockefeller also said the oil companies do not seem willing to contribute anything by way of shared sacrifice.
Shared Sacrifice is a collective concept practiced by socialists, communists and fascists. . . not achievers.
Chevron's Watson responded with a perfect, and exactly correct, response. He said, "I don't think the American people want shared sacrifice. I think they want shared prosperity."
Republican Senator Orrin Hatch recognized the political theater the Democrats were putting on, calling the hearing a dog and pony show that "should not be used to score cheap political points."
For the Democrats, it is easy to take shots at oil companies. Gas prices are higher than four bucks a gallon. And the Democrats are using the word "subsidies" just to make those tax incentives look even more sinister, even though they aren't subsidies at all. The Democrats won't look in the mirror and see that it is their spending that is the problem. They would rather work to increase the taxes on anyone they think they can get the public angry at. With high gas prices, and a push for "green energy," of course the oil companies were the easy target.
Don't get me wrong. Subsidies should be ended. But let's end real subsidies, not tax breaks. How about we eliminate the subsidies for the Democrat's pet projects? Maybe we ought to take aim at Obama's subsidies for green technology, electric cars, and all of the other environmentalist influenced green dreams.
Subsidies have nothing to do with this hearing, and the Left knows it. This hearing was all about vilifying an industry that stands in their way of greater control of the people through energy regulations.
Another consideration is the gas prices which are already high as it is. Do the Democrats think that slamming the oil companies for more tax money will reduce the price of gas? The oil industry already faces a higher marginal tax rate than most other companies.
The fact of the matter is that tax hikes on oil companies will increase the price of oil and gas for American consumers.
Of course, this is pure mercantilism (and fascism). What the Democrats are doing is punishing the oil and gas industry with targeted tax hikes, while rewarding other parts of the energy industry favored by the Administration. Our conspiracy buddies would call that Corporate Welfare, or Crony Capitalism.
If the Democrats wanted to give Americans a break at the gas pump, they would open up domestic drilling (as the House is proposing currently), reduce regulatory burdens on the industry, and stop their ridiculous decision to refuse to grant drilling permits offshore.
Sure, attacking big oil makes these raging radicals look good to their salivating leftist base, and the liberal media is probably eating it all up, but these targeted tax hikes the Democrats are proposing against the oil industry are not only not the answer to the high price of gas, but will also retard any technological advances we may see in the future by oil companies in an attempt to help solve America's energy problems.
The Democrats have to do something to go on the attack. It's not like their liberal policies have been working. They've even put out a statement that proclaims, "full recovery will take us several years."
-- Political Pistachio Conservative News and Commentary
Republican Senator Orrin Hatch recognized the political theater the Democrats were putting on, calling the hearing a dog and pony show that "should not be used to score cheap political points."
For the Democrats, it is easy to take shots at oil companies. Gas prices are higher than four bucks a gallon. And the Democrats are using the word "subsidies" just to make those tax incentives look even more sinister, even though they aren't subsidies at all. The Democrats won't look in the mirror and see that it is their spending that is the problem. They would rather work to increase the taxes on anyone they think they can get the public angry at. With high gas prices, and a push for "green energy," of course the oil companies were the easy target.
Don't get me wrong. Subsidies should be ended. But let's end real subsidies, not tax breaks. How about we eliminate the subsidies for the Democrat's pet projects? Maybe we ought to take aim at Obama's subsidies for green technology, electric cars, and all of the other environmentalist influenced green dreams.
Subsidies have nothing to do with this hearing, and the Left knows it. This hearing was all about vilifying an industry that stands in their way of greater control of the people through energy regulations.
Another consideration is the gas prices which are already high as it is. Do the Democrats think that slamming the oil companies for more tax money will reduce the price of gas? The oil industry already faces a higher marginal tax rate than most other companies.
The fact of the matter is that tax hikes on oil companies will increase the price of oil and gas for American consumers.
Of course, this is pure mercantilism (and fascism). What the Democrats are doing is punishing the oil and gas industry with targeted tax hikes, while rewarding other parts of the energy industry favored by the Administration. Our conspiracy buddies would call that Corporate Welfare, or Crony Capitalism.
If the Democrats wanted to give Americans a break at the gas pump, they would open up domestic drilling (as the House is proposing currently), reduce regulatory burdens on the industry, and stop their ridiculous decision to refuse to grant drilling permits offshore.
Sure, attacking big oil makes these raging radicals look good to their salivating leftist base, and the liberal media is probably eating it all up, but these targeted tax hikes the Democrats are proposing against the oil industry are not only not the answer to the high price of gas, but will also retard any technological advances we may see in the future by oil companies in an attempt to help solve America's energy problems.
The Democrats have to do something to go on the attack. It's not like their liberal policies have been working. They've even put out a statement that proclaims, "full recovery will take us several years."
-- Political Pistachio Conservative News and Commentary
Big Oil Execs Hit Back on Tax Proposal - CNN
House Approves Bill to Lift Drilling Moratorium - Fox News
As gas prices soar, GOP uses Gulf oil-spill anniversary to blast Obama energy policies - Los Angeles Times
Peak Oil Is A Myth - Peak Oil Is A Myth
Abiotic Oil - Free Energy News
Two Years In, Obama Says Full Recovery Will "Take Us Several Years" - Real Clear Politics
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