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Obama budget would end oil
industry tax breaks, hike royalites

Houston Chronicle, by Jennifer A. Dlouhy

Original Article

Posted By:Dreadnought, 4/10/2013 10:54:34 PM

In unveiling his $3.8 trillion spending plan for the U.S. government on Wednesday, President Barack Obama revived his longstanding attack on oil industry tax breaks and formally launched a plan to pay for alternative vehicle research with drilling dollars. While the tax plans are dead on arrival on Capitol Hill — where lawmakers have rejected similar proposals many times before — they drew outrage from oil and gas industry leaders who said Obama was seeking to use the sector as a piggy bank. The fiscal 2014 budget proposal aims to raise $2.5 billion

      


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Reply 1 - Posted by: smcchk, 4/10/2013 11:00:31 PM     (No. 9269673)

He is crazy, absolutely crazy. But half the country likes him.

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Reply 2 - Posted by: reddfroge, 4/10/2013 11:08:06 PM     (No. 9269683)

the tax income is only in the 2 t for the entire country.
this is the most stupid budget, yet.
Why does ANYONE still support this foolish man and his administration...Oh, I know why...he is ´black´...that is all that has to be said.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Pearson365, 4/10/2013 11:24:02 PM     (No. 9269710)

Obama is just repackaging the always shrill, always anti-business HRC:

Feb 2, 2007 – Hillary´s Oil Industry Threat: ´I Want to Take Those Profits´ ... We´re going to take things away from you on behalf of the common good....

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Reply 4 - Posted by: reddfroge, 4/10/2013 11:45:44 PM     (No. 9269732)

AND, Now we will suffer through 8 years of a Hillary administraton???
We will not survive another 4 years of Obama.

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Reply 5 - Posted by: veritas, 4/11/2013 12:27:32 AM     (No. 9269755)

Taxes on business are unbelievably stupid. Not to mention impossible in the end. Oh, and they manufacture motives for influence peddling by pols and load non-productive costs on businesses that have to have lawyers and accountants to minimize the tax burden.

Taxes "on business" simply raise prices. Period. People who push them aren´t people who fail to comprehend theoretical economic arcana. People who push taxes on business are too stupid to count.

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Reply 6 - Posted by: Jubilationtcornpone, 4/11/2013 1:23:58 AM     (No. 9269787)

Doesn´t that stupid sumbitch know he could open federal lands to oil and gas exploration and devote all the royalties to his pet green projects? He´d have more money then he´d know what to spend it on, but he´d rather hit the private oil firms that take all the risk.

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Reply 7 - Posted by: billa, 4/11/2013 2:38:15 AM     (No. 9269817)

The reason is so obvious - he is an absolute idiot. He does not know basic math, basic economic theory and practice, geography, American and World history, political science, oil is an essential ingredient in 90% of everything made and who knows how many other subjects.

He is the living and breathing example of how devestating affirmative action is on those who accomplish by effort and merit and not just because of skin color.

Too bad the oil companies cannot organize a compact to refuse to sell to any federal agency until these taxes, royalties, land grabbing and oppressive regulations are removed.

Grounding AF1 and the "Black Beast" limo would immediately change the idiot´s mind.

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Reply 8 - Posted by: belwhatter, 4/11/2013 3:41:51 AM     (No. 9269825)

This should DOA.

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Reply 9 - Posted by: globalwarmer, 4/11/2013 3:56:45 AM     (No. 9269833)

OK, but while you´re at it, take the federal tax off gasoline.

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Reply 10 - Posted by: Charactercounts, 4/11/2013 4:19:36 AM     (No. 9269841)

Crazy like a fox, #1.

Everything he does, he does for a reason.

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Reply 11 - Posted by: marthaville, 4/11/2013 6:50:51 AM     (No. 9269935)

Yeah Obama is going to strengthen our energy sector by not allowing a deduction for intangible drilling costs. He says the industry has matured. Well many other industries have matured, so let´s apply the same standard to the auto industry, General Electric and all their diversified businesses, all businesses with union labor. Eliminate deductions for any industry producing wind or solar power. The federal government pays all their expenses anyway.

Poor Obama is so ignorant he must think oil & gas companies would invest more if he raises their taxes. Mr. zero sum game has no concept of a growing and expanding economy. He is a control freak that has damaged or destroyed everything he has touched since becoming president.

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Reply 12 - Posted by: Trigger2, 4/11/2013 6:58:35 AM     (No. 9269946)

That green no-energy BS sucks up and continues to suck up more tax breaks, subsidies, and free outright taxpayer money (grants) than the oil industry has ever gotten since its inception. If the Republicans fall or this BS, they don´t deserve to remain in office.

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