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March 14, 2008

Democrats Aim To Sabotage Oil Industry

Topics: Political News and commentaries

If the Democrats have their way, the price of producing oil for U.S. companies will increase by $18 billion, and you don't have to use your imagination to know who's going to end up paying for that increase!

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(BadgerHerald.com) [...] The bill will scrap the tax deduction given to major integrated oil companies, which helps the companies discover, extract, refine and market the energy that drives our nation's economy. According to Speaker Nancy Pelosi, D-Calif., and the rest of the Democratic-controlled Congress, the Big Five oil companies (Exxon, Chevron, BP, Shell and ConocoPhillips) made record profits for 2007 -- so they no longer deserve a tax deduction. This bill will force the Big Five to make up for the $18 billion increase, which will drive up prices at the pump, send good-paying jobs overseas and increase dependence on foreign oil.

The revocation of the tax deduction, however, is not the worst part of bill. While systematically driving up oil prices in the United States, foreign oil companies, such as Citgo -- which is operated by the notoriously brutal leftist, Venezuelan dictator Hugo Chavez -- will benefit from this bill. Citgo gets to keep its 6 percent deduction for U.S. domestic manufacturing, while the Big Five have to somehow compensate for losing $18 billion in tax deductions.

Don't worry, though. The tax increase will not drive the American companies out of business; they will just relocate operations abroad so they can match the advantage of foreign companies like Citgo.

[...] It has yet to be seen if Ms. Pelosi and the Democrats in Congress have realized the horrendous affects the bill will have on this country if it becomes law. By supporting it, Democrats in Congress are not only supporting leftist despotism, but instead of giving the tax break to those that need it the most, such as middle-class American families, they are giving them to an anti-Semitic, anti-American, fascist dictator.

We can thank the Democrats for having obstructed efforts to up the supply of oil and for far too many years having listened to "radical environmentalists" who forced onerous regulations on oil companies:
[...] Since 2001, Republicans in the House have approved oil drilling in the ANWR
nine times. In the Senate, approval has been repeatedly blocked by
Democratic filibusters.

Prudhoe Bay oil fields, 60 miles east of the ANWR, began delivering oil via
the transAlaska pipeline in 1977. The 15th billion barrel of crude was
delivered this year. Has the environment been damaged? The number of caribou
in Prudhoe Bay has tripled.

Republicans sponsor the Domestic Energy Resources Act that terminates a ban
on drilling an estimated 85.8 billion barrels of oil miles off our Gulf
Coast. Democratic Sen. Bill Nelson of Florida promises to lead a filibuster
to retain the ban.

After Hurricane Katrina, Republicans introduced a bill to ease approval of
new gasoline refineries and encourage their construction on closed military
bases. Senate Democrats blocked the bill in committee. No new refineries
have been built since 1976.

Since the 1970s, Congress has launched 30 investigations of gasoline pricing
and has yet to find wrongdoing by the oil companies. Oil companies are not
the problem. Congressional Democrats increase prices for gasoline by
obstructing both the drilling of domestic oil and the construction of new
refineries.

Question of the day: Are democrats the reason why we so dependent on foreign oil and increase in islamic militancy?

You don't need any clues to answer the question. You already know the answer.

Related: Consumers are really paying at the pump; Gas prices expected to continue to climb

Posted by Richard at March 14, 2008 12:06 AM



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