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Battered by gas prices White House starts attacks on oil companies
By Ian Swanson - 04/23/11 10:45 AM ET
The White House has joined congressional Democrats in targeting oil companies with criticism for nearly $4 per gallon gas.
President Obama lashed out at oil companies -- and the tax breaks they get from the government -- for a second day in a row on Thursday and again in Saturday's address.
“Four billion dollars of your money are going to these companies at a time when they’re making record profits and you’re paying near record prices at the pump,” the president said at a Nevada town hall. “It has to stop.”
WASHINGTON – President Barack Obama says one answer to high gasoline prices is to spend money developing renewable energy sources.
"That's the key to helping families at the pump and reducing our dependence on foreign oil" in the long term, he said Saturday in his weekly radio and Internet address.
Obama raises the issue of rising fuel prices during almost every public appearance and says that he understands the strain higher fuel costs are putting on some family budgets.
With Big Oil raking in record profits, House Democrats offered a Motion to Recommit to the House Republican short-term spending bill this afternoon making a responsible cut to the budget: putting an end to taxpayer-funded subsidies to large oil companies. Repealing these subsidies would save taxpayers tens of billions over the next decade and even ex-Shell CEO John Hofmeister agrees saying “with high oil prices, such subsidies are not necessary.” Rep. William Keating (D-MA) offered the motion on the House floor saying “let’s stop sending taxpayers’ money to the most profitable companies in the world.” ...Republicans voted unanimously against the motion, defeating it by a vote of 176-249.
Originally posted by Rockdisjoint
reply to post by incrediblelousminds
In a free market our cars most likely would not run on gas, we probably wouldn't even need oil for anything any more..
Originally posted by incrediblelousminds
reply to post by ripcontrol
It's funny to me that a so-called fiscal conservative would think that the Wite House should be able to control oil prices on the free market.
Of course, without the massive amount of socialist subsidies to the big foreign oil companies, supported by both parties, the FREE MARKET price of gas at the pump would be about 10 bucks a gallon.
Originally posted by civilchallenger
The free market price of gas at the pump would be about $3 per gallon because in a free market you don't have gasoline taxes or corporate taxes to drive up the prices. Cigarette taxes have proven that a $1 tax per box amounts to a $1 price increase per box at the store! Contrary to what liberals believe, taxes are *not* taken out of corporate profit margins... they pass the cost onto you and me.
Originally posted by Rockdisjoint
reply to post by incrediblelousminds
Idk, what they would run on, I just know that in a free market someone would've invented a better alternative by now.
Originally posted by incrediblelousminds
Originally posted by civilchallenger
The free market price of gas at the pump would be about $3 per gallon because in a free market you don't have gasoline taxes or corporate taxes to drive up the prices. Cigarette taxes have proven that a $1 tax per box amounts to a $1 price increase per box at the store! Contrary to what liberals believe, taxes are *not* taken out of corporate profit margins... they pass the cost onto you and me.
That's hilarious! A dollar a gallon! You clearly have no idea what goes into the extraction, production and transportation of petrol.
Federal Taxes are small fraction of the price of gas. Without those subsidies the price would be even higher. I've shown my numbers, if you're going to call "BS", you might want to include some sourced data as well.
Originally posted by rebeldog
reply to post by incrediblelousminds
most people are not smart enough to understand free energy. imagine how a car's alternator works, basically the battery is only needed to start the vehicle, then the engine turns the alternator which.....wait for it.... produces electricity!!!!
now, also understand the alternator has a .......VOLTAGE REGULATOR AND ........also.....can ......REGULATE AMPERAGE!!!!!...
still need me to "talk" slow...ok. fine... there are such things IN EXISTENCE NOW, dual shaft motors!!! one shaft to drive the wheels, and the other shaft .....wait for it....wait for it...spin an alternator that has a voltage regulator and amp regulator set for say example 120V or 240V (volts),whatever, and produces say...60A..(amps)..
perpetual energy!!!! ding...ding...ding..
I knew a shipbuilding engineer who used to work at NASSCO who invented it, "got visited" and then got paid 2 mil for the patent, which was shelved..