Obama proposes larger oil cleanup fund, tax on oil companies

Obama proposes larger oil cleanup fund, tax on oil companies

edition.cnn.com

President Obama on Wednesday proposed a package of measures that would provide at least $58 million in additional funding for oil spill relief efforts and raise the tax that oil companies pay to maintain an emergency fund.

(visit the link for the full news article)

This is pretty incredible. I really didn't post this because of the article... I posted it because of the video within the article; it's of one of the leaks gushing crude oil and it's pretty wild. It really puts into perspective how much of it is really getting pumped into the ocean. It's a very uncomfortable sight.

edition.cnn.com
(visit the link for the full news article)

[edit on 13-5-2010 by ProUSA]

All an additional tax against the oil companies would do is drive the price of oil up, so we pay their tax for them.

There is no way any oil company would allow their profit margin to be effected by another tax.

I am opposed to this, their liability they should be required to pay it once it happens, but no tax.

Well, Mr. Two Face at what he does best again.... that is, being two faced.

What exactly happened to "The oil companies will be held fully responsible and will pay fully for this spill, and will not get one cent", Mr. Obama? Oh that's right, you just tell everyone what they want to hear and then turn around and sell out at the first offer. At least have the gall to sell out once everyone stops paying attention...

It's unfortunate that the oil companies have such a monopoly on the industry that the consumer will end up paying the bill through the passing on of the bill through price gouging. The solution is not to cave in and hand out free money for them.

NEXUS

The first two comments pretty much covered it.

Let me see, companies that are cronies of governments will not have to pay the entire bill.

No, the people will have to pay for it.

Well, at least Obama is consistent.

Sock puppet all the way.

If our country operated by the basis of the Constitution, I could sue BP for any harm they caused me. I wonder if I would have standing?

If it worked according to the Constitution, someone would already charged with a crime.

There is some straight out bull# going on and will the people understand that they are getting screwed by both the government and corporations?

Sorry, if the bill for the cleanup and detriment to the people cost so much that it put BP out of business, so what! Put them out of business and any others complicit in this debacle.

Watch this be used to pass the Cap and Tax bill.