Mar 292012
 

This morning Barack Obama called attention to the huge subsidies US taxpayers pay to Big Oil, despite record profits and rising supplies.  In addition he challenged several Republican lies regarding the oil industry and his own policies toward it.

29Oil-SubsidiesPresident Obama on Thursday urged Congress to drop billions of dollars in tax breaks that amount to subsidies for the largest oil firms operating in the United States, which he noted were showing record profits as millions of Americans watch rising gas prices strain their household budgets.

"I think it is time they got by without more help from taxpayers," Mr. Obama said in remarks in the White House Rose Garden, "the oil industry is doing just fine."

Mr. Obama’s push comes minutes ahead of a Senate vote on a bill that would repeal the subsidies. With strong opposition from Republicans, the Senate is not expected to garner the 60 votes needed to approve the measure.

But rising gas prices are a major concern at the White House and in Chicago, where Mr. Obama’s campaign is preparing for a fight to the finish with the Republican nominee for president… [emphasis added]

Inserted from <CBS>

Here’s the video.

I agree with Obama that we need to invest that subsidy money in clean energy.

Now there may be a lot about Obama’s energy policies with which you disagree, as I do too. Sadly, the majority of the US voting public has not caught up to us yet.  Nevertheless, Obama has done more to reduce our dependence of foreign oil than any president in my memory, and everything Republicans say to the contrary are lies.

There is no question that Senate Republicans will filibuster this measure, so we must make them pay for those votes.

Late update:  A majority of the Senate voted for the measure, but it failed 51-47 because Republicans filibustered.  The following DINOs goose stepped with the Republicans: Mary Landreau (D-LA), Benedict Nelson (D-NE), Mark Begich (D-AK), Jim Webb (D-VA).

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  7 Responses to “Obama Calls for End of Big Oil Subsidies”

  1. Sorry, but he should have done this his first year in office. I’m just glad he’s finally doing so.

  2. President Obama on Thursday urged Congress – “I think it is time they got by without more help from taxpayers,” Mr. Obama said in remarks in the White House Rose Garden, “the oil industry is doing just fine.”

    Thumbs up ^ President Obama… wink ;-)

     

  3. about time and the votes are what expected

     

  4. did anyone happen to see Ninja Turtle McConnell speak on the Senate floor in opposition? It seems he is worried that the oil companies will pass on the “added” tax to consumers. What a load of BS! Of course they would pass it on to us. They surely don’t pass their profits on to us though.

    How about a little price regulation and an investigation into price gouging? They have the authority to do so.

  5. Now we know beyond all doubt which DINOs are bought out by big oil. They are all major disappointments.

  6. Mr Obama’s direction on energy is the correct course of action for now, but it is far from perfect.  I would like to see more investment in clean energy, but that is a steeper hill than can be climbed in the short haul.

    That the bill was defeated in the Senate with the help of the goose-stepping DINOs is no surprise.  After the BP spill in the Gulf, I wonder how Mary Landreau would fare in an election?  These DINOs have to go.  Fortunately Benedict Nelson is going out, but then his replacement is in question.