Obama attacks McCain for being "in the pocket of big oil"
Monday August 4, 2008
Categories: Politics
Just like Bush, taking contributions and giving them tax breaks but fails to mention that he voted for Bush's energy bill and has taken contributions as well: "Now Big Oil's filling John McCain's campaign with $2 million in contributions," citing...
Filed Under: casting stones, Democrats, hypocrite, McCain, Obama, oil profits, presidential election, Republicans, video
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Read more about the Reformed Chicks: Michele McGinty, Angela Arnold, and Susan Johnson
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The Oil Industry's $15,000 per second profit has not produced one drop of more oil, only obscene wealth at the expense of the American public.
The windfall profits reflect that they good of the people is the last thing they care about. McCain whats to reward them with even more tax brakes and fewer regulations, how stupid is that?
Let us all bow down and worship the god of greed and consumption, great is our lord, greed. Get real, big business has crippled the small business man, and taken food and jobs from the American people. The rich are getting very rich and the middle class is a vanishing breed. While high oil prices have raised the cost of food, clothing and the ability to get to a job, the industry of oil has gotten richer and greedier. If ever there was an industry that needed to be indited for unfair profit taking, it is the oil industry.
While Microsoft has made greater profits, it has constantly LOWERED its prices, making it easier for the consumer, the oil companies have constantly RAISED its prices to further greater profits from a captive consumer with price gouging and non-competitive pricing.
Their actions amount to a sin in every sense of the word, as well as a crime against the American people.
And while the oil companies whine and beg for more leases for offshore tracts, they sit on the ones they currently own and do absolutely nothing. No exploration, no drilling, nothing.
If Congress decides to open up more tracts for drilling, there should be a requirement that the oil companies have five years to begin work in these tracts or they lose title to them. There should also be a requirement that every drop pumped from these tracts remains in the US, to alleviate the US consumer's thirst for oil.
But wait, the Democrats already offered this bill. It was HR 6521 the Responsible Federal Oil and Gas Lease Act. This bill included these provisions, and would have opened up more land for drilling.
In short, it would have done EXACTLY what the GOP says it wants done. Yet the Republicans in the House voted against it. Why? Because Big Oil does not want to be forced to actually drill for oil. They want the option to sit on the leases and watch the price go up so they can make more than $15,000 per second.
This is what you are supporting, Michele, you and the other grandstanders in the GOP. How does it feel being pimped for Big Oil?
By the way, those who voted against cheaper oil and gas (most of the House GOP and 19 House Dems) that would have been provided by HR 6521 were:
Robert Aderholt
Rodney Alexander
Michelle Bachmann
Spencer Bachus
Gresham Barrett
Roscoe Bartlett
Joe Barton
Marion Berry
Judy Biggert
Brian Bilbray
Gus Bilirakis
Rob Bishop
Marsha Blackburn
Roy Blunt
John Boehner
Jo Bonner
Mary Bono
John Boozman
Dan Boren
Rick Boucher
Charles Boustany
Kevin Brady
Paul Broun
Henry Brown
Ginny Brown-Waite
Vern Buchanan
Michael Burgess
Dan Burton
Steve Buyer
David Camp
John Campbell
Eric Cantor
Shelley Capito
John Carter
Steve Chabot
Travis Childers
Howard Coble
Tom Cole
Michael Conaway
Jim Costa
Ander Crenshaw
Barbara Cubin
Henry Cuellar
John Culberson
Geoff Davis
David Davis
Tom Davis
Nathan Deal
Charles Dent
Thelma Drake
David Dreier
John Duncan
Vernon Ehlers
Jo Ann Emerson
Phil English
Mary Fallin
Tom Feeney
Michael Ferguson
Jeff Flake
Jeff Fortenberry
Vito Fossella
Virginia Foxx
Trent Franks
Rodney Frelinghuysen
Elton Gallegly
Scott Garrett
Jim Gerlach
Phil Gingrey
Charles Gonzalez
Virgil Goode
Bob Goodlatte
Kay Granger
Sam Graves
Gene Green
Ralph Hall
Doc Hastings
Dean Heller
Jeb Hensarling
Wally Herger
Ruben Hinojosa
David Hobson
Peter Hoekstra
Kenny Hulshof
Duncan Hunter
Bob Inglis
Darrell Issa
William Jefferson
Timothy Johnson
Sam Johnson
Walter Jones
Jim Jordan
Ric Keller
Peter King
Steve King
Jack Kingston
Mark Kirk
John Kline
Joseph Knollenberg
Randy Kuhl
Ray LaHood
Doug Lamborn
Nick Lampson
Tom Latham
Steven LaTourette
Bob Latta
Jerry Lewis
John Linder
Frank Lucas
Dan Lungren
Connie Mack
Donald Manzullo
Kenny Marchant
James Matheson
Kevin McCarthy
Michael McCaul
Thaddeus McCotter
Jim McCrery
Patrick McHenry
John McHugh
Howard McKeon
Cathy McMorris Rodgers
Charles Melancon
John Mica
Jeff Miller
Candice Miller
Dennis Moore
Tim Murphy
Marilyn Musgrave
Sue Myrick
Randy Neugebauer
Devin Nunes
Solomon Ortiz
Ron Paul
Stevan Pearce
Mike Pence
Thomas Petri
Charles Pickering
Joseph Pitts
Todd Platts
Ted Poe
Jon Porter
Tom Price
Deborah Pryce
Adam Putnam
George Radanovich
Ralph Regula
Dennis Rehberg
Rick Renzi
Silvestre Reyes
Tom Reynolds
Ciro Rodriguez
Harold Rogers
Mike Rogers
Dana Rohrabacher
Peter Roskam
Mike Ross
Edward Royce
Paul Ryan
Bill Sali
Jim Saxton
Steve Scalise
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James Sensenbrenner
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John Shimkus
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Don Young
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Paul and ds0490, if you have jobs your 401(k)and pension plans are invested in "Big Oil" as are the retirement plans of millions of Americans. Also, "Big Oil" does not set the price of oil.
McCain responded angrily to this charge, but his voice was muffled, due to the depth of the pocket he was speaking from.
"BTW, the Michigan Republicans plan to go to Obama's Lansing event and hand out tire gauges engraved with 'Obama's Energy Plan.'"
i heard that they tried to distribute them to the dozen or so who turned out to the last mccain event but the gauges didn't come with instructions. in the end, they had to scrap the idea because all the old farts were sticking the things in their ears trying make mccain sound better.
as for the windfall profit tax, i doubt that you understand the tax, based on your "canned" republican, anti-carter, anti-tax, pro big-oil verbiage on the subject.
for example, the wpt of the 80s was not carter's idea, it was congress's and was a compromise with congress and carter who wanted to decontrol oil prices (government control that was imposed by nixon). fyi, the first windfall profit tax was actually proposed by president ford in 1974. however, carter supported the idea because he (and many others) feared that removing price controls would provide huge unearned profits to the oil companies - which has proven to be true.
REDUCED DOMESTIC PRODUCTION & INCREASED FOREIGN DEPENDENCE
you only tell half of the story. during enforcement of the wpt, domestic production dropped, which caused an increase in foreign oil dependence. however, that was offset by price decontrol on domestic oil (which is what carter wanted anyway). as reported by the congressional research service:
in addition, our dependence on foreign oil was growing anyway. in 1986, the percentage of imports was 38%. in 1990, 2 years after it's repeal, that still rose to over 50%. today, after 20 years without wpt it's 60% and despite bush's increased tax breaks that started in 2005.
REVENUE
the wpt wasn't a true tax on windfall profits. it was an excise tax (the tax rate was never based on actual profits) which is partly why it had a negative effect on industry.
you're attributing declining tax revenues to wpt, when the wpt immediately underwent several amendments that reduced its own tax revenues. nice scapegoating tho. the decline in demand for oil and the increase in overseas production caused prices to drop, base prices were adjusted for inflation, and domestic production decreased - these three forces essentially eliminated any revenue to the government. still, the reality is that the wpt brought in $80 billion in revenues and not a decline in tax revenues. this is why reagan didn't move right away to repeal it - it kept the deficit down.
so, what do you propose for domestic oil companies that are riding the wave created by opec, raking in record profits for several years now, more interested in buying back their stock or in mergers (like exxon and mobile, bp and amoco) than in producing more (more production increases supply and reduces prices and profits)? they've really got us bent over the barrel and they want still more tax breaks, more taxpayer funded public lands to drill on.
a few answers:
1. develop alternate energies to compete with oil
2. promote conservation efforts
3. a true windfall profit tax (not excise tax) - the difference is crucial in how it might affect the industry
4. eliminate tax breaks for big oil companies
The real difference is the Democrats want to move to renewable energy. Wind, solar, tidal, geothermal, would all create good jobs, and reduce our dependence on foreign oil.
Or, we can do what Republicans want us to do. Keep throwing more money at the oil companies and trust them to treat us really well.
Your choice.
"The real difference is the Democrats want to move to renewable energy. Wind, solar, tidal, geothermal, would all create good jobs, and reduce our dependence on foreign oil."
what you're saying is that we can vote for change, or we can give our change to the oil companies? ;)
so far, i'm voting a full democratic ticket. i haven't seen a republican (that'll be on my ballot) who's on the right side of the energy issue yet.
and the story unravels more:
Couple's $61,600 McCain donations raises questions
... deep pockets, indeed.
coincidence in timing? one has to wonder where a middle-class couple comes up with $61,600 to give away, and wonder what they expect their roi will be.
yup. deep pockets. surely they're giving money for the good of their country and not to grow their family fortunes. right?
hmmmm. you don't say...
there's the connection!
i'm not surprised.
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