Tweet
Idiot Obama at it AGAIN.
Obama has no clue and keeps attacking the oil industry. He is playing his Demogogue Card constantly and is a lying POS-here's some more of his lies from yesterday in North Carolina. Tax Deductions are NOT Subsidies and if ya repeal them, then ya have to repeal them for ALL Manufacturing Industries and kill more jobs and companies-what a dumbazz.
From IPAA:
Yesterday in North Carolina, President Obama repeated his call for Congress to end "subsidies" to the oil and natural gas industry. He said, "Right now, $4 billion of your tax dollars goes straight to the oil industry every year — $4 billion in subsidies that other companies don’t get. Now, keep in mind, these are some of the same companies that are making record profits every time you fill up your gas tank. We’re giving them extra billions of dollars on top of near-record profits that they’re already making…the American people have subsidized the oil industry long enough — they don’t need the subsidies. So I called on Congress, eliminate these subsidies right away. There’s no excuse to wait any longer…we should put every member of Congress on record: They can stand up for the oil companies or they can stand up for the American people and this new energy future."
This is divisive rhetoric which falsely pits the oil and natural gas industry against the American people. As IPAA members and staff educated Congressional offices on the 2012 Congressional Call-Up this week, intangible drilling costs (IDCs) and percentage depletion are not subsidies at all, but typical business deducations that manufacturing and mining industries receive.The result of the President's wishes -- repealing these typical business deductions -- would damage the cashflow of independent producers, resulting in lost investment, lost American jobs, and lost energy supply. In light of rising gasoline prices and growing international tensions, this policy would be disastrous for American consumers. IPAA continues to educate Congress and the media on the President's mischaracterizations and politically motivated villification of the industry by a worthless, lying DEMOGOGUE.
You think gasoline prices are high, what the heck do you think will happen if the deductions are gone? Anyone that passed Junior High School KNOWS that taxes and the costs of goods are passed down to the CONSUMER except Obama-I guess in Kenya he didn't pass Junior High and I can only speculate that he cheated his way through HS, Colllege and now life, because he certainly is a complete dumbazz when it comes to economics!!!!
From IPAA:
Yesterday in North Carolina, President Obama repeated his call for Congress to end "subsidies" to the oil and natural gas industry. He said, "Right now, $4 billion of your tax dollars goes straight to the oil industry every year — $4 billion in subsidies that other companies don’t get. Now, keep in mind, these are some of the same companies that are making record profits every time you fill up your gas tank. We’re giving them extra billions of dollars on top of near-record profits that they’re already making…the American people have subsidized the oil industry long enough — they don’t need the subsidies. So I called on Congress, eliminate these subsidies right away. There’s no excuse to wait any longer…we should put every member of Congress on record: They can stand up for the oil companies or they can stand up for the American people and this new energy future."
This is divisive rhetoric which falsely pits the oil and natural gas industry against the American people. As IPAA members and staff educated Congressional offices on the 2012 Congressional Call-Up this week, intangible drilling costs (IDCs) and percentage depletion are not subsidies at all, but typical business deducations that manufacturing and mining industries receive.The result of the President's wishes -- repealing these typical business deductions -- would damage the cashflow of independent producers, resulting in lost investment, lost American jobs, and lost energy supply. In light of rising gasoline prices and growing international tensions, this policy would be disastrous for American consumers. IPAA continues to educate Congress and the media on the President's mischaracterizations and politically motivated villification of the industry by a worthless, lying DEMOGOGUE.
You think gasoline prices are high, what the heck do you think will happen if the deductions are gone? Anyone that passed Junior High School KNOWS that taxes and the costs of goods are passed down to the CONSUMER except Obama-I guess in Kenya he didn't pass Junior High and I can only speculate that he cheated his way through HS, Colllege and now life, because he certainly is a complete dumbazz when it comes to economics!!!!
COMMUNITY WITH A LARGE
PROBLEM AND A 
PROBLEM.
Comment