Conservative Politics Today

Yesterday it was reported that Barack Obama has changed his stance on offshore drilling and has conceded support for drilling off the coast of Florida, the eastern Gulf of Mexico, and the south Atlantic off the coast of Virginia, Georgia and the Carolinas.

In typical Obama fashion he declares this change is not a change in position, he has always supported some drilling. This change in position compared with his statements made June 20, 2008 in Jacksonville, Florida makes this even more laughable.

What is not laughable is his flat out declaration that he will in fact be stealing money from the oil companies and allegedly giving some of it to the poor. Listen to this next clip, beginning at 1 minute 33 seconds.

“Now keep in mind Exxon has announced it made $12 billion dollars almost. Almost $12 Billion dollars last quarter. More than any U.S. corporation has ever made in a single quarter. It’s time we used some of those record profits, uh, to help ordinary Americans pay for record prices.”

There is so much wrong with this I hardly know where to begin.

1. Yes, Exxon did in fact make a record $12 Billion dollars last quarter AFTER taxes.

A. Exxon made record profits due to record prices per barrel of oil- prices Exxon had no part in setting.

B. Exxon, Chevron, and ConocoPhillips have about a 46% tax rate which is 10 percentage points higher than the U.S. statutory rate of 35%.

C. The government made more off Exxon in taxes this quarter than Exxon put in it’s own pocket and Exxon is the one having to fund research, drilling, transportation, etc. Where is the governments windfall profits going?

2. Prices rose this high due, in part, to the governments refusal to permit the U.S. to become energy independent. Instead politicians such as Nancy Pelosi, Harry Reid, and Barack Obama want us to continue depending on foreign governments for 70% of our energy needs, while demanding we use energy that currently does not exist or is not available, for a reasonable or affordable cost, to the consumer.

3. This plan to steal from these corporations do not reduce the cost of energy. It does not create more energy. It is not even a temporary fix to a real problem. The prices will remain high. Demand for energy will continue to rise as will the cost.

4. These added taxes, plunder, theft, being proposed by Obama will be passed on to the consumer. We will not be getting something for nothing. You will continue to pay for it when prices go up further at the gas pumps and grocery store check out.

5. This absolute Marxist statement should horrify anyone who hears it. Obama has, yet again, let it be known that there is a limit to profits a corporation or individual should be permitted. He makes it perfectly clear that he believes it well within the governments rights to take any money perceived to be above what government finds permissible. Everyone needs to ask themselves what limits the government shall be putting on you.

The liberals have managed to make oil companies out to be the bad guys in their efforts to not only demand more money from those whom they have determined have deep pockets, but to take the heat off of themselves. It is time the American people demand these politicians account for the billions of dollars they receive from these oil companies every quarter. Where is the money? What has it funded? What relief has it provided the citizen? What alternative energy or studies has it funded? When the government can satisfy address these questions then we can move on to big oil.