Obama vows to 'eliminate' billions in oil subsidies

[Turborama]

Source: AFP

Agence France-Presse

First Posted 11:08:00 01/26/2011

WASHINGTON DC, United States—President Barack Obama promised to deprive oil companies of billions of dollars in taxpayer subsidies Tuesday, as he called for investment in "tomorrow's" energy.

"I'm asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don't know if you’ve noticed, but they're doing just fine on their own," he said, according to a prepared version of his State of the Union address.

"So instead of subsidizing yesterday's energy, let's invest in tomorrow's."

Read more: http://newsinfo.inquirer.net/breakingnews/world/view/20110126-316708/Obama-vows-to-eliminate-billions-in-oil-subsidies

[tabatha]

1. And for that people fail him.

Just incredible.

[eleny]

2. It was a nice gesture but a throw-away line...

Because he and we know it will never happen.

[progressoid]

9. +1

[Psephos]

16. self-delete n/t

[Psephos]

17. You got that right. n/t

[rhett o rick]

6. Maybe he sould ask Congress to close Gitmo. nm

[glinda]

13. And close off the Arctic.

[defendandprotect]

19. +1

[defendandprotect]

18. +1 --

[Turborama]

10. That was an astute prediction. n/t

[obxhead]

3. It was a safe statement.

He gets to appease the left with a statement that will never come to fruition. The Republican controlled congress will never eliminate these subsidies.

[notadmblnd]

4. No more corporate welfare!

[rhett o rick]

7. Can you spell rhetoric? nm

[Lucky Luciano]

15. Rhett o Rick!!

[Nossida]

5. Ridiculous

And I am enjoying a nice cold ice tea in Hell.

[Kahuna]

8. That was really republican of him...

:sarcasm:

[grahamhgreen]

26. And then give it to coal, gas, and nuclear, with a bone to unlimited energy sources.

[Stumbler]

30. That's what I noticed. on "Renewable engery:"

Wind, Solar, "clean coal, nuclear and natural gas". Wonder who's gonna get the bigger pieces of that pie....

What a frakkin' joke. (Sorry true-believers. I supported him before he kicked my support to the curb.)

[JJW]

11. Political Rhetoric

The WH probably called the oil CEOs and apologized already.

[FailureToCommunicate]

12. Even if it's an empty promise, it WAS enjoyable to see Boehner's face go

pale (hard for him) and have a Scooby-Doo moment!

[rayofreason]

14. He already proposed this...

...when the Dems had both houses. Didn't happen then, won't happen now and he knows it.

[hay rick]

20. Obvious right thing to do

and so nice of the Republicans to stifle their guffaws.

[russspeakeasy]

21. Maybe he will use his well honed caving, I mean negotiating skills..

[defendandprotect]

22. Anything about ending the wars now ...? Bankrupting of the Treasury by war...?

Anything about our homeless -- impoverished citizens --

with no MEDICARE FOR ALL?

Anything about the increasing unemployment --

double dip now in falling home prices --

Obama's stimulus was about 20% of what he was told by economists what was needed --

Any realization of how wrong that was --

Is he still pushing nuclear power -

Still out to replace public education with charter schools --

Still insisting that Social Security has anything to do with the debt --

Anything about limiting power of the Federal Reserve and putting Congress back in

charge of our economy and jobs --

Anything about overturning the trade agreements sucking jobs out of US -- OOPS!

Obama is working on new trade agreements --

How about the Patriot Act -- did they overturn it yesterday -- ?

Homeland Security still zippy along -- and torture/rendition not necesarily gone --

Still claiming to have the right to lock up anyone and/or kill them --

How about the people in the Gulf suffering effects on their health from oil spilled

everywhere -- their economy destroyed -- fishing jobs gone -- and COREXIT --

Anything about the 50 million Americans who have NO HEALTH CARE --

Anything about the 20% unemployment rate when we count long term unemployed --

Anything about an end to subsidizing RCC's "faith based" religious organizations --

How about the filibuster --

Were there any words spoken which suggest we need to end the obsession with guns --

A million foreclosures last year -- and just as many expected this year -- or more --

Any word of encouragement for helping these citizens --

Anything on ending the farce of corporate citizenship --

[ProudDad]

23. It was an amazing display...

Like an ancient alchemist...

Obama has transformed himself from a "progressive liberal" sounding candidate...

To a raving Libertarian free-marketeer...

In just over 2 short years...

Fucking amazing...!!!

[defendandprotect]

25. Summation: "Slickly Disguised Corporate Globalizaiton" --

[bhikkhu]

24. Good!, and a list of the subsidies to bone-up on:

http://cleantech.com/news/node/554

Some of the list from the informative article:

"* Construction bonds at low interest rates or tax-free
* Research-and-development programs at low or no cost
* Assuming the legal risks of exploration and development in a company's stead
* Below-cost loans with lenient repayment conditions
* Income tax breaks, especially featuring obscure provisions in tax laws designed to receive little congressional oversight when they expire
* Sales tax breaks - taxes on petroleum products are lower than average sales tax rates for other goods
* Giving money to international financial institutions (the U.S. has given tens of billions of dollars to the World Bank and U.S. Export-Import Bank to encourage oil production internationally, according to Friends of the Earth)
* The U.S. Strategic Petroleum Reserve
* Construction and protection of the nation's highway system
* Allowing the industry to pollute - what would oil cost if the industry had to pay to protect its shipments, and clean up its spills? If the environmental impact of burning petroleum were considered a cost? Or if it were held responsible for the particulate matter in people's lungs, in liability similar to that being asserted in the tobacco industry?
* Relaxing the amount of royalties to be paid (more below)"

I don't think everything is attainable, given the need to consistently support jobs and economy, but there's certainly some low-hanging fruit there that has already been in the sights post-macondo. Assumption of legal risks should be about done, along with "pollution subsidies" and low-cost loans. Earmarks frequently inserted to benefit isolated projects based on a greased palm or two should also be finished. Its no so important to deal in absolutes as it is to be moving in the right direction.

[grahamhgreen]

27. And then give it to coal, gas, and nuclear, with a bone to unlimited energy sources.

[Skittles]

28. *yawn*

riiiiiiiiiight

[truthisfreedom]

29. I liked his speech, and I like this too. I believe he will try to make this happen.

Whether or not congress will let him, I believe he'll try.

[quakerboy]

31. If he tries it will happen

When he chooses to throw his weight behind something, it happens. He passed his HC bill. He passed his Tax cuts.

We will see if this is empty talk or if it is something he actually does.

[Dover]

32. Yea sure. And Gulf fish are 'safe' to eat...mmmhmmm....n/t

[Le Taz Hot]

33. And the reason he didn't do this last year

or the year before . . . ? He had a Democratic Congress and there was a chance it might pass. He waited until there was a Republican Congress. He gets the creds for the appearance of trying to reign in oil company subsidies while knowing all along there's no way in hell it's going to see the light of day. Stick around long enough and you learn to see this shit for what it is.

[LawnKorn]

34. Next President Obama needs to 'eliminate' billions from the Department of Defense

The hemorrhage of money from the U.S. Treasury to defense contractors has to be brought under control.

[LawnKorn]

35. Kick

[theaocp]

36. Snowball's chance in Hell n/t

[xchrom]

37. he'll try -- like he tried to get a public option.

:eyes:

those subsidies are safe -- when obama had a dem house and senate -- they were safe.

[Red1]

38. I Like that!!

"So instead of subsidizing yesterday's energy, let's invest in tomorrow's."

Mr BP, Mr. Texaco, Mr. Amaco....I believe the POTUS is calling youall hasbeens...

[somone]

39. I'm sure Joe Barton & Co. will be very cooperative

Hey, what happened to the $75 million oil spill liability cap when Democrats owned both houses? I remember they soooo wanted to fix that little error.