A great idea from your president. Blaming speculators isn’t working. He must deflect his own damage. He campaigned on a promise to open up US areas to drilling. But, he didn’t. He put a moratorium on drilling in the Gulf in a knee jerk opportunity to do what he really wanted to do all along. He lifted it, but had his Department of the Interior continue as if it weren’t lifted. Many rigs left the gulf to go to places like Brazil to drill. Obama loaned Brazil a few billion for their drilling efforts.
He raised the DOE budget for green energy opportunities by a few billion. Have you seen any results from those billions?
Now, he proposes taxing the oil companies to generate money for green energy opportunities. The oil companies will put the tax on the pump and Obama can do nothing about that. Unless, like Jimmy Carter, he puts price controls in. Remember the lines Carter created with that idea?
Dr. Chu, head of the DOE could not spend all the money Obama gave him for green energy initiatives. The oil companies Obama proposes to tax. spend $1 of their money out of every $5 spent for green energy development. But, your brilliant president will tax the oil companies, they will put it on the pump, the DOE won’t be able to find places to invest the tax revenue,the oil companies will stop investing in green energy, and Obama won’t be reelected if gas prices go higher.
Have at it Obama, you finally came up with an idea I can support. Tax those oil companies, and be a one term president. You will have earned it. Nothing upsets American more than high gas prices.
