Democratic Leaders Mislead on Gas Prices, Oil Taxes, Says Energy Expert

CNSNews ^ | May 17, 2011 | Matt Cover

[jazusamo]

Dems keep demonizing oil companies while still not letting them drill.

[kingu]

Oil companies generally make a dime a gallon. Gasoline is taxed about a buck a gallon by the various levels of government. Which has the mismanagement and greed?

[olezip]

“We have to do something about the exorbitant gas prices, and the best way to start with that is to do something about the five big oil companies getting subsidies they don't need,” Senate Majority Leader Harry Reid (R-Nev.) said on the Senate floor on Tuesday.

Senate Majority Leader Harry Reid (D-Nev.)is wrong because companies ALWAYS pass increased taxes onto the consumers. What would you expect? The ten cents per gallon that they earn will remain at ten cents per gallon. You and I will pay more at the pump for any increase in costs of production. Harry Reid, an allegedly corrupt politician, does not want to understand basic economics 101, and general knowledge and experience for the past 100 years.

[jazusamo]

Yep, I’ve read those figures in the past.

Obama and the Rats don’t have an energy plan, except for buying oil from overseas.

Obama even pledged a $2 Billion loan for Brazil so we could buy more from them while he still had a moratorium for drilling in the Gulf. Grrrrrrrrrrrrrr

[jazusamo]

Correct. Another thing to consider is that Reid, Pelosi and Obama are outright liars.

[Argus]

So, massive government subsidies to ethanol, windmills, etc. are necessary to keep those prices down, but subsidies to gas and oil companies cause those prices to go up.

Harry Reid’s logic is a marvel to behold.

[justice14]

I know your right, I’m not arguing that, but do you have a link to support that statement. So when I quote it, I have facts to back it. Thanks in advance.

[musicman]

[LuvFreeRepublic]

“You’re either going to have that investment here or you’re going to penalize that investment, in which case it will go somewhere else. It means fewer jobs and more un-American energy.”

Or they pass the tax onto the consumer so we end up paying more at the pump than we are now....DUH

[Jacquerie]

Mark Levin recently cited average oil company profit at two cents per gallon.

Taxes run from a low around 28 cents to a high of 68 cents per gallon; quite a haircut

[Daisyjane69]

I’m going to keep posting this until every FReeper is an expert and can correct people on this subject.

Big Oil has been prevented from getting these subsidies since 1975. In the video below, please note that the Democrat speaking worries about how it’s going to look for Obama once people realize he is LYING about this issue:

http://conservatives4palin.com/2011/04/democrat-martin-frost-effectively-concedes-palins-analysis-of-the-oil-industry-is-accurate.html

Money phrase:

“But if the press ever picks up that the President is not telling the truth about the depletion allowance, that it doesn’t go the major oil companies, he’s going to have additional problems, I believe, in the polls.”

[Daisyjane69]

I’m going to keep posting this until every FReeper is an expert and can correct people on this subject.

Big Oil has been prevented from getting these subsidies since 1975. In the video below, please note that the Democrat speaking worries about how it’s going to look for Obama once people realize he is LYING about this issue:

http://conservatives4palin.com/2011/04/democrat-martin-frost-effectively-concedes-palins-analysis-of-the-oil-industry-is-accurate.html

Money phrase:

“But if the press ever picks up that the President is not telling the truth about the depletion allowance, that it doesn’t go the major oil companies, he’s going to have additional problems, I believe, in the polls.”

[Daisyjane69]

sorry for the double post. Just installed IE9 and I am still trying to figure it out.

[Chode]

do I really have to say it???

[BJClinton]

Senate Majority Leader Harry Reid (R-Nev.)

I realize it's difficult to tell them apart anymore but really...

[SunkenCiv]

Thanks jazusamo.

The Demwits hate to see Americans able to find jobs, own homes, afford food and transportation, defend themselves, vote (if they’re not voting for Demwits), or express their opinions in person, in print, on broadcast media, or on the internet.

[TheOldLady]

That’s okay. It bears repeating.

[jazusamo]

Thanks for posting. Great video and am really surprised Frost would admit to it.

When you said “I’m going to keep posting this until every FReeper is an expert,” I first thought you meant literally. ;-) Just kiddin’.

It does warrant repeating.

[justiceseeker93]

Can someone please explain why the ‘Rats are out to boost taxes on oil companies just now when they had two years to do it when they controlled both houses and the White House? If it’s such a great idea now, why wasn’t it implemented previously?

[RC51]

How about they just eliminate all subsidies & tax write-offs for everything? Yes, even your home loan & kids. The govt use’s the tax code as weapon, for social engineering and lots of other things. It is time for a Flat tax, Fair Tax, or anything other than what we have now.