Obama calls for rollback of big oil tax breaks

Obama calls for rollback of big oil tax breaks

rawstory.com

President Barack Obama says it's time to roll back "billions of dollars in tax breaks" for oil companies and use the money for clean energy research and development.

Obama made the comments Wednesday in prepared remarks for a speech at Carnegie Mellon University in Pittsburgh.

He said the catastrophic Gulf oil spill shows the country must move toward clean energy by embracing energy efficiency, tapping natural gas and nuclear power and eliminating tax breaks for big oil.

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What Obama is saying hear is all sounds well and good. I just must question if it is really going to happen. If I remember correctly the tax breaks they got were to put money into research and development of clean renewable fuels. I do not know how much of it got there. Perhaps if the tax breaks are removed we can find out. Please post your thoughts.

rawstory.com
(visit the link for the full news article)

No worries they will get the money back by raising costs to the consumer.

In the end they will most likely end up making more. Obama like any other politician will take care of their big business buddies, oil buddies, and banking buddies.

We are nothing to any of them.

Raist

reply to post by Raist


It is unfortunate but what you said sounds about right.
Also the real depressing part is they don't need to raise any prices since they are already making tens of billions in profits.

reply to post by RedGolem


So true, I would take a day of their profits and live a life without worries. Even my son would be able to live without worries.

Raist

It's possible that the oil companies were given these tax breaks to invest in and develop new clean energy sources but have made only a token effort, preferring to bump their profits with them instead.

In that case I think it's entirely reasonable for the government to withdraw the benefits and divert the money to new companies and entrepreneurs who will make a real effort and push this technology further.

The western world simply has to get off fossil fuels as much as we can both for the sake of the environment and for energy independence. It's not a nice thought that we could effectively be held hostage by some less than savoury regimes around the world.

[edit on 2-6-2010 by Chris McGee]

reply to post by Raist


Raist
that is very true. That is also the problem I often have with the large corporations who take as much as the can from people who struggle for very little so they can stay rich.

reply to post by RedGolem


That sounds like most employers now days as well. For instance my employer had the most profitable year they have had since they have been open, last year. We did not get raises and this year we will get nothing more than a very, very minimal raise. They did though spend several thousands of dollars on beautification of the business. Of course management never got a hold put on their bonuses.

Raist


[edit on 6/2/10 by Raist]

[edit on 6/2/10 by Raist]

I agree that we should do much more than just roll back taxes. These vipers are using every trick in the book to soak the average consumer for every last penny they can get.

They have been buying off and silencing numerous free energy thinkers for years...Tesla anyone? what possible research could these tax breaks fund when they have already quashed all of the top contending options?

They are criminals and we all know it. They could of crimped this pipe day 1 and then called in outside resources to address any additional needs...no no rather then halting the potential death of numerous species they have held out till they could come uop with some way to get this errant oil to the surface....they want money, they will destroy all of us in their quest.

Their lot in the next life shall be a reward of their own making...they should all be hangin their heads in shame and so should our government for allowing this level of crime to be perpetrated. bastards every last one.

reply to post by Raist


Raist
and it can get even worse
Does your boss want you dead.
just some more food for thought.

reply to post by RedGolem


Yeah, I seen that. LOL
Sorry I have to chuckle at that. I am sure my employer might want a few of us dead. Those of us with opinions anyway. I would bet they are trying to figure out how they can pull the stuff off if they are not doing it already.

You have to wonder how mankind has become so greedy and corrupt. I feel sorry for the future.

Raist

reply to post by Raist


Raist
I can sure see where one would feel that way, but the thing is, this have been going on every since the race has lived in anything equal to or larger then a village. But I got to agree with the advent of politics it has gotten much worse.

reply to post by RedGolem


Wrong thread off topic remarks oops .

[edit on 3-6-2010 by xpert11]