Sucking Us Dry

From Reuters:

The U.S. Congress should consider cutting multibillion-dollar subsidies to oil companies amid rising concern over skyrocketing gas prices, House of Representatives Speaker John Boehner said on Monday.

“It’s certainly something we should be looking at,” Boehner said in an ABC News interview. “We’re in a time when the federal government’s short on revenues. They ought to be paying their fair share.”


Well praise Jesus, we have a convert. Okay, not really. We all know it’s just lip-service. “Fair share” is nicely suggestive of a Robin Hood mentality but it’s really just clever-speak. After all, the Republican party does not generally endorse making the oil companies pay for anything. Remember, under the Bush giveaways,

From the same Reuters article:

The attempt to end the subsidies has has been strongly condemned by oil and gas companies, which argue that abolishing the tax breaks would reduce domestic drilling, cost jobs and increase U.S. reliance on foreign energy suppliers.

You know what else would reduce domestic drilling? Sending you greedy fuckers a bill for the oil you’ve been taking from public American land and not paying the taxpayers for. You lease the land and suck up billions in oil, then have the gall to sell it back to us, then threaten to reduce the drilling if we expect a cut of what belongs rightfully to the American people anyway?

I can just imagine the colorful sexual metaphor QJ has for that–probably something about spitting on a whore’s back after you pillage her and take what money she had when you found her.

So where was I? Oh yeah, the robber baron oil companies. What is their solution to the rising price of oil & gas? TA-DA:

2. End altogether subsidies for all “green energy” (i.e. wind turbines, solar panels, ethanol, bio-diesel, etc.). . .

If these “clean” energy technologies can be made efficient and profitable, so be it. But the government should not be subsidizing them to artificially prop them up.

While “clean” energy subsidies should be “ended altogether,” however, other subsidies should be gradually “phased out”:

3. Phase out all tax credits for oil, natural gas and coal companies while simultaneously phasing out oppressive regulatory structures. These are all well established industries. Without subsidies propping up the “green” energies these industries should be able to be profitable, without tax credits from the government, if unnecessary and cumbersome regulations are removed.

Well, consider this dummy educated. I had NO idea that the poor little oil companies weren’t yet profitable and needed alternative research wiped off the map “altogether” in order to help them.  /sarcasm

Most people are already aware that Oil Companies in general are making quarter after quarter of record profits.  The American people aren’t rallying for less taxes on the oil companies, they aren’t taking the sides of the big banks that almost crippled our entire economy (and are still raking in profits hand over fist.)  Yet here, in a nutshell, is the “conservative” argument again taxing Big Oil:

“So what?” you ask? Well, the more you tax “Big Oil,” the less return investors will get on money plowed into oil production. The less return on investment, the less investment there will be. Less investment equals less production, and less production equals higher prices.

Really?  You think people are ever going to stop investing in OIL?  Exxon-Mobil made $10.9 Billion in the first quarter alone.   And just who are the major shareholders of Exxon-Mobil?  Don’t be surprised to find the top institutional shareholders are . . . . *drumroll please* . . . the Banks.

I know I’ve heard this song somewhere before.  

I’d like to take Boehner at his word.  Really, I would.  I wonder if he still has stock in all of the oil companies he had stock in last year.


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