Friday, May 6, 2011

Oil in Liberal Double-Speak

President Obama was campaigning in Indiana today and according to the Los Angeles Times he said:

"Oil companies over the last five years, through a recession, through ups and downs, the top five oil companies, their profits have ranged between $75 billion and $125 billion," he said. "And yet they still have a tax loophole that is costing taxpayers $4 billion every year. Now, if you're already paying them at the pump, we don't need to pay them through the tax code."

It is wonderful news that five companies are making money.  That is good news to the hundreds of thousands of people employed either directly or indirectly by these companies.  It is particularly good news to the tens of millions of people who have money invested in those companies.  Only a liberal could turn profits into a bad thing.  I don't hear them complaining about the profits Apple and Steve Jobs are making. 

The “tax loophole” is actually a tax credit for royalties that oil companies are required to pay foreign governments.  This tax credit was put in place in the 1950s by the United States Department of State to level the international economic playing field.  If US oil companies don’t get that $4 Billion tax credit they might absorb some of it, but the remainder of it will be passed on to the consumer at the pump.  Some liberals like Representative Debbie Wasserman-Schultz (Idiot-FL) have referred to this tax credit as a “subsidy.”  Liberal double-speak at its most perverse. 

Why doesn’t the Federal Government cut the $4 Billion out of the sinfully wasteful budget of the Department of Energy?  A useless bureaucracy put in place by Jimmy Carter (now elevated to the second worst president in American history). 

This year according to Mr. Obama “the nation reached its highest level of oil production since 2003. But with only 2 percent to 3 percent of the world’s oil reserves, it’s not enough for a nation that consumes about 25 percent of the oil.” 

Again, classic liberal doublespeak.  Technically speaking all of the elements of this statement are correct, but put together it creates a false narrative.  Mr. Obama is implying that his regime is responsible for increased oil production.  However if the argument shifts to drilling he has said that nothing he could do would impact oil levels for a decade.  In this sense he wants to have his cake and eat it to.  When it serves his purpose the good news is a result of his leadership.  When there is bad news, if it wasn’t George Bush’s fault then he can’t do anything about it for a decade.  Classic liberalism. 

The fact that we may command only 2-3% of the world’s oil reserves has nothing to do with the amount of oil that we consume.  That’s like doing a transportation study by comparing the number of railroad miles with the number of two-car automobile garages.  The two figures have no relationship.  By any competent industry analysis we have vast quantities of oil within our borders and off our shores.  Exploiting those resources would drive down prices and employ Americans instead of foreigners in recovering, refining, and delivering petroleum products.  It is quite simply insanity to not step up oil production in the United States

President Bill Clinton said 15 years ago that drilling for oil in the Arctic National Wildlife Refuge (ANWR) wouldn't result in oil in the market place for . . . . . . . . .well now.  We would be driving on that oil now.  Mr. Obama is using this same tired excuse – we need to start drilling now.  

Drill Here, Drill Now, Pay Less: A Handbook for Slashing Gas Prices and Solving Our Energy Crisis      Drill Here, Drill Now, Pay Less! Bumper Sticker Decals


  1. The narrative of 2-3% is a false narrative coming from comrade zero. American Thinker did a piece on our oil reserves on June 16, 2010.

    Note the following statement from the article:

    "... untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Counties (OPEC) and sufficient to meet 300 years of demand-at today's levels-for auto, aircraft, heating and industrial fuel, without importing a single barrel of oil."

    The AT article cites the Kiplinger Report of June 30, 2008.

    The bottom line is that we have a sea of oil under us but we are not allowed to get it. This a problem caused by both the right and left and they both use the eco-bazis as the excuse.

    Without question we buy foreign oil to maintain economic relations, thereby influence (akin to our relationship with China), with some of the most dictatorial regimes ever known. Now that these resources are at threat we have painted ourselves into a corner. In addition, we have not built a new refinery since the mid seventies despite the fact that our population has grown by 80 million.

    The left hangs it's hat on the environment and the right hangs it's hat on influence.

    We are obviously THAT stupid.

    The answer is simple and the same one that we on the right have been saying for decades and that is open our oil reserve areas for development and build some refineries. On that announcement, the price of oil would fall dramatically and our economy would begin to recover.

    We have the largest ecomomy on the planet (for now) it is only fitting that our oil use is proportionate but that doesn't fit zero's narrative.

    Oil isn't about fuel either. Oil is used for every synthetic fiber, plastics, tires, road paving, paint, and an endless list of products.

  2. There's a hilarious, contrived 'story' to attempt to pin something on 'liberals' as boogeymen. Really pathetic. "Drill baby drill!" What a hoot.

    You know, out here in the real world where most Americans live, in the sunshine and out of the cave, that folly goes over like a lead balloon. Most Americans, thank God, no longer fall for the foolishness that you posted here. No, they are too smart and too well-informed.

    That stuff that you and your followers are giddy about only plays well in the dark, dank caves where the frightened conspiracists huddle and give high-fives all around.

    Pathetic is too kind for that nonsense.

  3. Mud,

    Pitiful. Not a single fact to dispute the facts that are presented here. You are twisted by your evil ideology and lie easily. Laugh all you want - and please do it while you are at the gas pump. It is cretins like you who have made it impossible for American business to deliver fuel at economic levels to the people who need want it.

    Be gone Troll - you are way out of your league here.

  4. Amigo,
    .........finally! Geez, you've got a lot of patience.

    You probably would have done it sooner if you had gotten the crap comments and attacks of useless drivel from him (which he always whines about) as he did with my blog which I never published.

    Just a suggestion... enable the moderation (troll be gone). Also, you should also post a troll notice to be fair. Polite commentary and an exchange of ideas is always welcome.

  5. Maybe the turd will just go away. I haven't heard from him since I called him on his racist BS.

  6. The interesting thing, gentlemen, is that you appear to be bathing in your own ignorance- and enjoying it immensely.

    I copied the essence of CS's post on my blog and challenged my blog members to a test of knowledge on the subject. It wasn't too very long that the first correct answer was followed by a second, third and forth... The people who frequent my blog proved a point that I already knew: that are light-years ahead of the pig-wash sloshed around this blog.

    Here are the answers to my quiz. See if you can figure out the questions:

    1.) unregulated oil futures were placed on the Commodities Market in 2000

    2.)Sen. Phil Gramm [TX]

    3.)Enron Loophole

  7. Hey, I came back to hear the latest 'stuff' in the World of Delusion. Any new conspiracy theories floating around in the right-wing? What's the latest fear-mongering topic being kicked around? Curious minds want to know.

    Say, regarding the topic, Oil in Liberal Double-Speak, have you seen the latest trend? Where I live, the price at the pump is dropping like flies. It was $4.15 two weeks ago and today it's $3.89. Wow! Now that President Obama has done away with bin Laden, apparently he's waging war on the gluttonous oil cartel.

    Of course, Common Sense will be upset by this drop in gas prices because he enjoys paying top-dollar to the oil cartel.

    Well, if anything urgent comes up that you'd like to run by someone not living in the World of Delusion, just ask me and I'll let you know what the real world is thinking about.

  8. No dice Mud - one visit to your hate fest was enough for me. Stay there and stew in your hate.