Posted on 05/31/2011 9:03:23 AM PDT by Bigtigermike
DILLSBURG, Pa. -- Asked Tuesday whether she supports the federal subsidy of ethanol, an always critical issue in the presidential nominating cycle, former Alaska Gov. Sarah Palin went one step further and called for the elimination of all energy subsidies.
"I think that all of our energy subsidies need to be relooked at today and eliminated," Palin told RCP during a quick stop at a coffee shop in this picturesque town tucked into the south-central Pennsylvania countryside. "And we need to make sure that we're investing and allowing our businesses to invest in reliable energy products right now that aren't going to necessitate subsidies because, bottom line, we can't afford it."
(Excerpt) Read more at realclearpolitics.com ...
Word!!
the infowarrior
Rush explained the much-maligned “tax break” for so-called BIG oil is nothing more than the same depreciation allowance that any other business gets.
Just more demonization by the Demonrats.
Yep...agree completely.
It’s been almost heartwretching seeing people buy into this nonsense. Agricultural people and those in the know have warned about the consequences...and that it would lead to worldwide food problems..and it is.
Thank you for talkiing about me in a public post and not pinging me.
Many years ago a bushel of wheat and a barrel of oil were both about the same price. When the price of oil started going up with the manipulations of OPEC I said that the price for a bushel of wheat should be pegged to that for a barrel of oil.
Many countries producing oil have need for wheat...our wheat...now I would add corn and soybeans to that equation too. Make the Ba$tard$ pay. And while we are at it, take these commodities, oil and agricultural products, off the trading floors.
“LOL! Ethanol is for DRINKING, not auto fuel!”
LOL...and a big thumbs up! Tax ethanol for fuel at the same rate as it is taxed for drinking...would anyone pay that kind of tax to burn it in their vehicles?
When was that? It sounds doubtful.
Really good news here! Rinos love Mythanol and the left wing bs of taxing the rest of us to pay for their Mythanol myths:
“Mitt Romney, who will announce his candidacy Thursday and is considered the front-runner in the GOP field, said last week in Iowa that he supports ethanol subsidies.”
‘But Palin differs, saying, “We’ve got to allow the free market to dictate what’s most efficient and economical for our nation’s economy. No, at this time, our country can’t afford the subsidies. Before, though, we even start arguing about some of these domestic subsidies that need to be eliminated — should be — we need to look at ending subsidies and loans to foreign countries and their energy production that we’re relying on, like Brazil.”’
“When was that? It sounds doubtful.”
Believe it...
Using the price of wheat as a surrogate for grain prices, shifts in the grain/oil exchange rate can be easily monitored. From 1950 through 1972, both wheat and oil prices were remarkably stable. In 1950, when wheat was priced at $1.89 a bushel and oil at $1.71 a barrel, a bushel of wheat could be exchanged for 1.1 barrels of oil. At any time during this 22-year span, a bushel of wheat could be traded for a barrel of oil on the world market. (See attached table.)
With the 1973 oil price hike, this began to change. By 1979, the year of the second oil price increase, OPEC’s strength had pushed the exchange rate to roughly 4 to 1. By 1982, when the price of oil had climbed past $33 a barrel, the wheat/oil ratio had climbed to 8 to 1. This steep rise in the purchasing power of oil led to one of the greatest international transfers of wealth ever recorded.
http://www.earth-policy.org/plan_b_updates/2000/alert8
HOORAY Sarah!
HOORAY Sarah!
HOORAY Sarah!
Thanks very much for posting, Bigtigermike. Thanks for the ping/link to this thread, neverdem.
DEFUND all collectives foreign and domestic. We can get out of this socialist/totalitarian quagmire and become low-taxed prosperous/productive citizens in a country that acts as a beacon for individual liberty.
Thank you for that. I see I was looking at inflation adjusted price for oil.
Nor did I find wheat prices that far back. I was surprised they were that high, relative to wages and the like.
“Nor did I find wheat prices that far back.”
I was aware of this in the 60’s leading up to the ‘73 & ‘79 oil ‘crises’. I first made that comment about pegging the price of wheat to oil then.
Can we also stop paying corporate farmers to not grow crops?
One-half gallon of oil in the form of pesticides per bushel of corn would cost $2 to $3 per bushel. If this were true -- and it clearly isn't -- it should be enough to illustrate to literally anyone that the price of petroleum is quite literally the ONLY thing driving corn prices. And this idiotic piece of agitprop -- from a hydrogen "energy" advocacy site -- also shows the guy in the encounter suit spraying chemical fertilizer, a sight that I've never been privileged to see, what with me *growing up on a farm*.
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