The Conservative Cave
Current Events => Economics => Topic started by: Chris_ on February 28, 2008, 07:44:56 AM
-
House Dems primed to hike oil taxes $18B
The House on Wednesday approved $18 billion in new taxes on the largest oil companies. Democrats said the money collected would provide tax breaks for wind, solar and alternative energy sources.
"Do these companies need taxpayer subsidies to look for new product? They don't need any incentive," said House Majority Leader Steny Hoyer, D-Md.
Hoyer acknowledged "this legislation alone will not bring down gas prices" but said the money will provide a needed boost to alternative-energy industries.
Republicans contended the tax proposals would not do what Democrats claimed. They said the tax breaks for oil would increase supplies and thus lower prices. "It will result in higher prices at the gasoline pump. It's spiteful and wrong," Rep. Jim McCrery, R-La., said of the vote, citing statistics to make his point that oil companies already pay more taxes than many industries.
Senior advisers would urge President Bush to veto the bill should it pass Congress, the White House said.
"New taxes … will even further reduce our energy security by discouraging new domestic oil and natural gas production and refinery capacity expansions," the American Petroleum Institute said in a statement.
Hey dims.... :bigbird:
MORE (http://www.usatoday.com/printedition/news/20080228/a_capcol28.art.htm)
-
Well, there goes my job.
Why do democrats hate the working rabbit so much?
-
Shades of 1979 all over again. God help us if the Barackstar gets into office. You think gas is expensive now? Wait until it hits $200 a barrel because oil companies aren't buying it or drilling for it.
-
Dims want higher gas prices. That way they can claim that the eeeeeevil "big oil" companies are oppressing the pooooooooooor. :whatever: :banghead:
-
Take a walk back in history with me, folks:
http://findarticles.com/p/articles/mi_qa3827/is_200003/ai_n8878813
-
House Rewards Chavez For Not Producing Oil
We know liberals in Congress are sympathetic to Hugo Chavez leftist agenda, but cutting him a tax break is a little over the line. Yesterday, the House passed an energy bill that raised taxes on American oil and gas companies. Notice the emphasis on ‘American.’ What should surprise everyone is that Citgo, Chavez’ personal ATM that operates in the U.S., is still getting a 6 percent tax break for domestic manufacturing that Exxon, Chevron, BP, Conoco-Phillips and Shell will all loose. How is this possible?
The House figures that since Petroleos de Venezuela, doesn’t actually produce any oil and gas in the U.S, they just refine and distribute it, they shouldn’t have to face the punitive taxation that the House wants to inflict on U.S. oil producers. So just at a time when oil is reaching over $100 a barrel liberals want to decrease domestic production and give Chavez a financial leg up on his U.S. competitors. All this so the House can pat itself on the back for “doing something†about global warming.
http://blog.heritage.org/2008/02/28/liberals-reward-chavez-for-not-producing-oil/