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Obama's Oil Industry attacks are BS
Obama attacks the Oil Industry all the time-he does so to gain votes since most Americans wrongly percieve the Oil Industry as a terrible and greedy industry while those same folks suck up to "Green" Companies, all the while forgetting that ALL COMPANIES are in business to make a profit (I bet you don't hate your ExxonMobil Stock).
From IPAA:
This month, IPAA has been battling against the Obama administration’s double-flanked assault on the oil and natural gas industry: the efforts to repeal industry’s key tax provisions and the proposal to hike royalty rates by 50 percent. IPAA has taken the independent producers’ case straight to the American people, hitting the airwaves to ensure that America’s oil and natural gas producers can continue creating jobs, boosting the economy, and securing America’s energy future.
Here are key highlights from IPAA leadership:
• Chairman Gigi Lazenby’s op-ed on taxes featured in American Press:
“In total, the proposed budget would impose $41 billion in new job-crushing taxes on American oil and natural gas production. What the President fails to acknowledge, however, is that independent oil and natural gas producers pay more in taxes than virtually any other American industry. Independent producers also reinvest 150 percent of their cash flow into domestic production, while paying significant local and state taxes to support communities."
• Immediate past Chairman Bruce Vincent on CNBC’s “Larry Kudlow:”
“If you look at the actual actions over the last three plus years of his administration, they have been anything but ‘all of the above.’ They have been the most detrimental and harmful to the oil and natural industry in this country that we’ve seen for decades. This industry has been able to grow production in this country that he now wants to take credit for but we’ve been able to do that on private lands and state lands whereas production on federal lands has actually declined.”
• Bruce Vincent on Fox Business’ “After the Bell” on taxes:
“The President loves to refer to the [oil and natural gas] industry and its tax subsidies. The fact is the energy industry does not get any subsidies. It does get deductions for its normal and ordinary business expenses just like every other industry gets…If you take away those deductions…not only would you not grow production you would lose a lot of jobs and economic activity that aligns itself with that capital investment.”
• President Barry Russell in Oil & Gas Journal on taxes:
“Unfortunately, the president’s skewed idea of an ‘all-of-the-above’ energy plan ensures that unelected Washington bureaucrats can determine, through massive tax hikes and taxpayer handouts, which forms of American energy should win and which should lose…In this case, the president has chosen to penalize our American oil and natural gas industry with massive tax hikes that benefit no one—especially the consumer.”
• Lee Fuller, vice president of government relations, presented on a policy panel at NAPE. He outlined the ten different federal agencies seeking to regulate oil and natural gas production. Among many press reports, Drudge Report featured the Houston Chronicle article, which highlighted Lee's comments on the EPA’s hostility towards the industry.
"The science that has been used there is appalling…lacking both substance and methdology....The tone is to always cast the study as addressing environmental risk, though there is no evidence of systemic problems.”
• Dan Naatz, vice president of federal resources & political affairs sent a letter to Interior Secretary Salazar on royalty rate increases. It was featured in Politico Pro and E&E News.
“America’s natural gas and oil producers are proud to provide one of the largest revenue streams to the federal treasury through royalties from public lands. We know from operating our businesses, and now confirmed by this [DOI] report, that increased royalties and other costs actually reduce investment and provide less revenue for America.”
IT MAKES YA WONDER WHY THIS POS POTUS IS TRYING TO DESTROY AN INDUSTRY THAT CREATES JOBS, HELPS ACHIEVE ENERGY INDEPENDENCE AND WHY THE HECK OBAMA WANTS TO DEAL WITH AND RELY ON THE MIDDLE EAST WHEN WE COULD TELL THE MIDDLE EAST TO GO FARGE THEMSELVES-THAT WOULD BE TOO GD EASY AND HE WOULD NOT GET THE IDIOTIC CALIFORNIANS VOTES!! I think Obama should move back to Africa, take his welfare abusing Aunt with him and get the Fock outta the USA. Socialistic POS.
From IPAA:
This month, IPAA has been battling against the Obama administration’s double-flanked assault on the oil and natural gas industry: the efforts to repeal industry’s key tax provisions and the proposal to hike royalty rates by 50 percent. IPAA has taken the independent producers’ case straight to the American people, hitting the airwaves to ensure that America’s oil and natural gas producers can continue creating jobs, boosting the economy, and securing America’s energy future.
Here are key highlights from IPAA leadership:
• Chairman Gigi Lazenby’s op-ed on taxes featured in American Press:
“In total, the proposed budget would impose $41 billion in new job-crushing taxes on American oil and natural gas production. What the President fails to acknowledge, however, is that independent oil and natural gas producers pay more in taxes than virtually any other American industry. Independent producers also reinvest 150 percent of their cash flow into domestic production, while paying significant local and state taxes to support communities."
• Immediate past Chairman Bruce Vincent on CNBC’s “Larry Kudlow:”
“If you look at the actual actions over the last three plus years of his administration, they have been anything but ‘all of the above.’ They have been the most detrimental and harmful to the oil and natural industry in this country that we’ve seen for decades. This industry has been able to grow production in this country that he now wants to take credit for but we’ve been able to do that on private lands and state lands whereas production on federal lands has actually declined.”
• Bruce Vincent on Fox Business’ “After the Bell” on taxes:
“The President loves to refer to the [oil and natural gas] industry and its tax subsidies. The fact is the energy industry does not get any subsidies. It does get deductions for its normal and ordinary business expenses just like every other industry gets…If you take away those deductions…not only would you not grow production you would lose a lot of jobs and economic activity that aligns itself with that capital investment.”
• President Barry Russell in Oil & Gas Journal on taxes:
“Unfortunately, the president’s skewed idea of an ‘all-of-the-above’ energy plan ensures that unelected Washington bureaucrats can determine, through massive tax hikes and taxpayer handouts, which forms of American energy should win and which should lose…In this case, the president has chosen to penalize our American oil and natural gas industry with massive tax hikes that benefit no one—especially the consumer.”
• Lee Fuller, vice president of government relations, presented on a policy panel at NAPE. He outlined the ten different federal agencies seeking to regulate oil and natural gas production. Among many press reports, Drudge Report featured the Houston Chronicle article, which highlighted Lee's comments on the EPA’s hostility towards the industry.
"The science that has been used there is appalling…lacking both substance and methdology....The tone is to always cast the study as addressing environmental risk, though there is no evidence of systemic problems.”
• Dan Naatz, vice president of federal resources & political affairs sent a letter to Interior Secretary Salazar on royalty rate increases. It was featured in Politico Pro and E&E News.
“America’s natural gas and oil producers are proud to provide one of the largest revenue streams to the federal treasury through royalties from public lands. We know from operating our businesses, and now confirmed by this [DOI] report, that increased royalties and other costs actually reduce investment and provide less revenue for America.”
IT MAKES YA WONDER WHY THIS POS POTUS IS TRYING TO DESTROY AN INDUSTRY THAT CREATES JOBS, HELPS ACHIEVE ENERGY INDEPENDENCE AND WHY THE HECK OBAMA WANTS TO DEAL WITH AND RELY ON THE MIDDLE EAST WHEN WE COULD TELL THE MIDDLE EAST TO GO FARGE THEMSELVES-THAT WOULD BE TOO GD EASY AND HE WOULD NOT GET THE IDIOTIC CALIFORNIANS VOTES!! I think Obama should move back to Africa, take his welfare abusing Aunt with him and get the Fock outta the USA. Socialistic POS.
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