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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

MEANWHILE, WHEN IT COMES TO ENERGY

By
Neal Boortz
@ March 2, 2009 8:22 AM
Permalink | Comments (22) | TrackBacks (0)

Did you know that Obama's budget includes new taxes and fees on the oil and natural gas industry? Because right now seems like a really great time to place more of a burden on our domestic markets. Meanwhile, Obama is going to increase funding for the Interior Department by $50 million in order to "assess alternative energy resources and bolster clean energy development." The truth is that this money will be spent to fight the expansion of any energy projects that don't pass the "alternative" test.

Basically, PrezBO's budget levies an excise tax on oil and natural gas from the Gulf of Mexico, which take $5.3 billion from oil and natural gas companies and put it into the hands of the imperial federal government. This 13% tax will apparently only be levied on companies currently not paying royalties due to a loophole. It also places $4 per acre annual fee on energy leases in the Gulf of Mexico. Other tax breaks include the manufacturing tax credit, enhanced oil recovery tax credit and marginal well tax credit.

What Obama is doing is using the power of government to squeeze the life out of the domestic oil and gas industry. And since it is unpopular to get oil from countries like Saudi Arabia or Venezuela, we will have no choice but to turn to green energy. He wants the transformation of America to alternate energy to be his legacy. It could turn into our economic epitaph.



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What others are saying

  • 'Alternative tax'
    I get it, the government leverages the oil companies into more idiotic ideas like ethanol, which it turns out isn't good for our lawn equipment or my car! Brilliant! And get into their pockets at the same time...ditto! What a scam... I mean scheme! If the 'alternatives' were viable, somebody would be producing them already. We're being sqeezed into using tecnology which will likey bankrupt the government and many private energy companies and we'll have to nationalize because nobody will be able to reasonably produce energy of any kind in the private sector. Or we'll be at the mercy of Chavez, Putin, the Arabs and the not to be trusted Chicoms. Nice. No really, just great! I hope the 2010 elections bring about an abrupt end to the Pelosi, Reid, Shumer reign of terror and the American consumers say, 'not so fast' to the Federal Government. Even if we develop the alternative sources like Hydrogen, propane,green fuels(whatever the Hell that means)we need oil for lubricants, manufacturing,machinery,plastics,uh..let's see...and on and on and on...Sorry, libs, can't trash oil just yet. Even Polar Bears get that one. But then, they are way up the food chain from you anyway. Smarter, too!
  • Madness
    This madman Obama and his socialist Congress are destroying our country. Osama bin Laden could only dream of doing this kind of damage to America.
  • Taxaholic!
    Tax carbon dioxide emissions? They're going to tax us to exhale.
  • Not Good
    Taxing the oil companies will result in an increase in gasoline, the oil companies will pass it on to the consumer. This is Obummers way of increasing our taxes thru the back door.
  • Raise taxes on those evil corporations ...
    and those evil corporations raise their prices and we get stuck with the bill. When those evil corporations' profits don't go down, just tax them more ...
    and those evil corporations raise their prices and we get stuck with the bill.

    How many times does this have to happen before we figure out what's causing our pockets to be empty?
  • Good
    All right, Obama is proving how the government cannot control everything. Since Bush and his buddies all had money in oil, they just kept sucking up to them and allowing them to support the terrorists. Now Obama is making it so we dont become reliable on oil. I sure hope republicans cant find something to be angry and whiny about this.
  • Obama's game plan
    I'm sure a lot of people are thinking this, especially anyone who has anything invested in the markets. It is clear to me that Obama can remove the greatest amount of personal wealth by doing everything in his power to bring the markets to zero. Instead if instilling confidence, he is expeditiously working to undermine and lower the markets in order to evaporate any and all personal wealth invested in the markets. Everytime he opens his mouth, and people have had enough time to really analyze just what the ramifications will be, the market plunges. When the markets try to recover, Obama comes out with another press release and the downward spiral gains more steam. If you were on a commercial airplane, would you want Obama as your pilot? Are you the kind of person who would fight for your life? How about your country? Or would you rather stay in your seat and trust the pilot, regardless of the view outside the window. I've noticed that even the news reporters who cover the markets have fear in their eyes. I'm not supprised since they are more in tune with their investments and pensions than the news anchors, but that will change too. The people who have invested in our markets are as diverse as this country is. That makes Obama an equal opprotunity destroyer. In his eyes, to be truly equal, we all must be as broke and despondent as the lowest common denominator. His isn't a new deal, or new "new" deal, it is the RAW deal.
  • green energy is crap
    Too bad Republicans were saddled with that confused old RINO, John McCain. Any other candidate would have slammed Obama on his anti-oil, anti-nuclear fanaticism. Those two industries would have spurred our economy like nothing else.
  • what does "alternative" mean?
    I'm all for the government supporting alternative energy, as our economy will (down the line) depend on it in a "suddenly" kind of way, whenever some country we're importing from decides it doesn't like us. Energy is the sort of thing that is too important to just wait around for markets to adjust.

    Any alternative energy policy, to be valid, must include:
    - Nuclear power. Just heard a horror-story about six workers who died of exposure to nuclear materials. Six sounds like a very very low number, to me. This needs to be invested in.
    - Alternative methods of acquiring "non-alternative" fuels. While ideally, we'd all live off something as durable as the sun, there's not much point in not using oil to get there. If we can find a way to get oil out of a rock, let's do it. If we can figure out a way to get coal out of a volcano, let's do it.

    I'm an idealist, but I also believe in "pick your battles, one at a time."
  • Wanna bet
    The O will come up with some "rebate" to the poor for the increased fuel expenses? Out of our pocket of course.

    Robin, how are you one of the ones being ridiculed? Are you on the dole? If not, then none of this is directed at you. Glad you like the FairTax, are you doing anything to help promote it? I give every month and have a banner on my blog and hand out copies of the books. If you want something, you have to work for it. In business and politics.
  • New oil taxes
    You have got to be kidding. He is going to tax anything that does not come from the SUN! OOPS, oil companies pass the tax back to us, we pay more, those that can afford it can still heat their homes, the "newly defined" poor who can't afford heating oil will become yet another burden on the gov't teat and we "those who make a decent wage" will pay even more! Where does it end? Keep it up and I will be "POOR" as well and not be actually worse off than the family who makes $90K a year. Eventually if you don't make more than $250K a year you will have to turn to the gov't teat just to survive! SICK OF IT!!
  • Anti-capitalist
    the anti-capitalist strikes again.

    seriously.. green energy is great and wonderful.. I fully support PRIVATE INDUSTRY developing and marketing alternative energies. The govt cant run anything without ruining it.

    That being said.. a penalty for consuming energy like this will do nothing but hurt the beloved poor that the left love so much.. and the middle class that obama always brags on.

    hypocrisy could be defined as one who says one thing.. but does another.

    Obama is the biggest hypocrite I've ever seen.

    any voters remourse out there yet? no? Well wait until you cant afford to put gas in the "free" car hes giving you.. or cant afford to heat the "free" home hes going to give to 9 million american families..

    are american voters asleep at the wheel? Yes.. it seems they've been drugged.
  • alternative energy
    As an Environmental Science major in college, we learned that it takes about fifty years to fully implement a new energy source. What do the
    "higher thinkers" suppose we do until then? Maybe we can run our homes, vehicles, and evil corporations on unicorns and pipe dreams. What do you think the Obama tax is on a pipe dream?
  • Alternative Engery Funding.
    Here's something to think about. No, not that PrezBo is going to raise taxes to fund research into 'alternative' energy sources. Whatever revenue they get from higher energy taxes? Who's actually going to be spending it? (Hint: Who writes the federal budget?) Any want to bet that the money's going to allocated less on the prospect of the research projects in question than it is for political payback to supporters? I Anyone want to bet? I'll give odds.
  • The reality
    The reality is that Obama has an ideological opposition to the oil industry. Ideology precludes any kind of reason. Ideology pleases his financiers. No more money for Bush and Halliburton.

    The reality is that we will depend on oil in some form for decades no matter what alternative solution is created. The solution should be a all inclusive effort to attain all energy possible. This includes drilling, nuclear, solar, wind, tidal, methane from cow patties - whatever it is.

    The fact is that Obama is ideologically opposed to drilling and will not do it. When the world gets cranked up again, demand starts to soar, and gas is at $8/gallon, Obama will look like a fool. Of course, that scenario will give him more fuel to throw on the clean energy fire.

    We've gone from one president who does whatever he wants to another one who does the same thing, but with a lot more charm.
  • oil company taxes
    How can we have 6 dollar a gallon gas if the companies don.t pass the tax increae on to us ?
  • Moron alert!
    Copy you are not thinking (surprise). We would all like alternative energy but it'll take awhile and I think there is plenty of funding for R&D in this bill so shut up on that one. But meanwhile we have to quit being dependent on foreign oil. Think of the jobs (if you can think) that would be created instantly if we started drilling and building refineries. Instant stimulus. Even if it takes a few years for the oil to make it to market, there would be a jump in good paying jobs and revenues from those jobs. But now, thanks to your buddy (wipe your nose) we'll just be paying higher prices on gas and electricity and still waiting on alternative fuels.
  • Same old, same old
    Good grief Neal, the sky is falling. Negative, negative, nothing will work. Money is your only measure of success or worth so I suspect you will continue to be unhappy and constantly whining about it. Those of us that don't have it have learned how to be happy inspite of the difficulties we endure. Maybe, just maybe, it is time to put people first, then money. Suze Ormond says that is the rule and she has the money to back that up. Relax and try and embrace change and find your curiousity so you aren't such a drag to listen to. As one of the people you enjoy ridiculing daily, I would like to find just ONE conservative that I can regularly listen to that has a modicum of respect for me. I'm trying to hang in so I can continue to learn; I love the Fair Tax. Why not show us all how you can find something to be happy about that Obama is providing. Is it possible that oil and gas companies are dragging their feet on the pursuit of green energy they could make money from? Aren't they like the car companies that wouldn't make the needed changes and are now struggling to figure out how to survive? You are one of the conservatives that isn't a gay negative person. Lots of liberals want to listen and participate..if you are open to it. Just sayin...
  • The most frequent dodge..
    Of the oil-and-gas (and auto) lobbyists is to claim, with a straight face, "We're in favor of alternative energy, really we are. But until it magically appears with no R&D support whatsoever, we'll need oil to keep things running. Now quit funding that R&D and let us drill more, dammit!"

    Sorry, losers. That's not working with this administration. The LAST president was your oilman tool, not this one. We're interested in getting off the oil habit completely, not lining your pockets.

    Suck on it.
  • Alternative Reality
    So alternative energy can supply about 5% of what we need. Where do you suppose they will look for the rest of what we need?? Or are we just supposed to go dark?? Are they idiots or just evil??
  • Brewster's Millions
    Well, a new movie could be made call Obama's Billions, story line, spend billions of dollars, and in the end you need to be as broke as you started, then you will be given Trillions, more to burn through, what does it matter it is not your money, what fun. Then turn it in to a reality show, and you could sum it up every night on Katie Couric.
  • But who will pay for the poor people's electric bill?!
    Okay, if increase the tax on energy, and the companies who provide it have to charge more per kilowatt, who is going to pay for the poor people's electric bill in the winter and / or summer. Every year during these extremes in temperature, we get the sob stories about the unfortunate souls who have no heat or AC because they can't pay the bill.

    If Mr. 50/50 reduces our ability to produce energy reliably while making more of us poorer, who WILL tend to the poor?!
    Heck, we should just go back to living in caves and be done with it.
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