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President Obama: Nation can't drill its way out of soaring gas prices

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cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 12:32 PM
Original message
President Obama: Nation can't drill its way out of soaring gas prices
http://thehill.com/blogs/e2-wire/677-e2-wire/159705-obama-more-drilling-is-not-the-solution

President Obama called for the elimination of billions of dollars in oil industry tax breaks Friday, while stressing that the United States cant drill its way out of high gas prices.

We cant just drill our way out of the problem, Obama said during an energy policy speech in Indiana Friday. If were serious about addressing our energy problems, were going to have to do more than drill.

(snip)
During his speech, Obama called for putting an end to the unwarranted subsidies that we are giving oil companies right now through the tax code.

If youre already paying them at the pump, we dont need to pay them in the tax code, he said.
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woodsprite Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 12:33 PM
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1. Amen to that!!! n/t
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 12:40 PM
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2. Well the House GOP put the kibosh on eliminating those subsidies yesterday.
Under the cover of the OBL hoopla.
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young but wise Donating Member (760 posts) Send PM | Profile | Ignore Fri May-06-11 01:07 PM
Response to Reply #2
4. I really hate those fuckers.
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 01:09 PM
Response to Reply #4
5. me too
and a half :mad:
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 01:06 PM
Response to Original message
3. G-Obama
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Guy Whitey Corngood Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 01:13 PM
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6. BOOM! Drill that beyotches! nt
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cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 04:23 PM
Response to Original message
7. President Obama Calls for End of Oil Subsidies
http://thecaucus.blogs.nytimes.com/2011/05/06/obama-calls-for-end-of-oil-subsidies/

With gasoline prices still hovering above $4 a gallon, President Obama renewed his call on Friday to close tax loopholes for large oil companies, declaring, If youre already paying them at the gas pump, we dont need to pay them through the tax code.

Mr. Obama traveled to Indiana to visit a company that makes hybrid vehicle transmissions to showcase his administrations commitment to fuel-efficient and clean-energy technologies. But he also took aim at the oil industry as the key beneficiary of the nations ravenous appetite for energy.

Over the last five years, Mr. Obama said, the five largest oil companies each earned between $75 billion and $125 billion. An array of tax breaks for the industry, he said, cost American taxpayers $5 billion annually. The president, calling these loopholes unwarranted subsidies, said the money should be redirected to investments in clean energy.

Mr. Obama offered a familiar list of incentives to draw people away from gas-guzzling vehicles, including a $75 tax rebate for those who buy electric vehicles. And he reiterated his goal that the federal governments vast fleet of vehicles use fuel-efficient, clean-energy technologies by 2015.
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Lorien Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-06-11 05:58 PM
Response to Original message
8. Talk is cheap. Let's see some bold action on the clean green renewables
front, and high speed rail.
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