Obama demands Congress end oil, gas subsidies

Newsday ^ | JULIE PACE (Associated Press)

[New Jersey Realist]

Won’t the oil companies just raise their prices????

[DManA]

What are these subsidies they keep talking about. Is it the tax provisions that allow them lower their tax burdons?

Then why not attack GE that didn’t pay a dime last year?

[theBuckwheat]

Let us stop EVERY SINGLE subsidy.

[dearolddad]

What are these subsidies they keep talking about. Is it the tax provisions that allow them lower their tax burdens?

Why not end the subsidies for the following: Sugar, Wheat, Corn, Milk, and the Chevrolet Volt,

[AngelesCrestHighway]

FUBO!

[forgotten man]

“What are these subsidies they keep talking about. Is it the tax provisions that allow them lower their tax burdons?”

If the government does not confiscate all of your assets, 0bama calls it a subsidy or a giveaway.

[org.whodat]

Depletion beyond recapture of cost.

[Bitsy]

Won’t the oil companies just raise their prices????

Maybe that’s what they are looking forward to.

[Drill Thrawl]

GE like Goldman Sucks is part of the Crony Capitalism system and hence is exempt from ruling elite scrutiny.

Besides, how DARE you question The Won?! Now get back to work and pay your taxes serf!

[pabianice]

I’m watching Fox News now. They are playing a bit with Chu being quizzed by Congress regarding runaway gas prices. Chu is sitting there, quite spaced out, as if he’s communicating telepathically with space aliens, and telling Congress in a weird, dreamy voice, that he is implementing Obama’s policy of ending the country’s use of fossil fuels. He is quite happy if a gallon of gasoline goes to $7, as this will, necessarily, drive-down the use of gas-powered vehicles. People, he’s insane and working for an insane president. Obama is tripling-down on his green energy fantasy.

[mass55th]

Aren’t gas prices high enough under this yokel already? He gives billions in loans to green energy companies that go bust, and now he wants to end fuel subsidies. Can we please just get rid of this douche bag?

[G Larry]

They are NOT “subsidies”!!!

They are TAXES NOT IMPOSED!

Every nickle Obama doesn’t tax away from you, he considers a “subsidy”!!!!!

[Sacajaweau]

And allot more for corn and algae and solar and wind??

He's crazy!!

[GonzoGOP]

Call his bluff. End all the subsidies, but end them for all "alternative" energy companies as well. I don't like government subsidies on principle. And unlike the solar, wind, or whatever alternative energy BS the oil companies can survive without them. So just cut them all off and let the chips fall where they may.

And if the price goes up, well cutting the subsidies was Obama's idea wasn't it?

[cableguymn]

Didn’t this idiot just say “i’ll do everything I can to lower gas prices”? the other day.

Problem is. The sheeple BELIEVE him!

[DManA]

Don’t know anything about the subject but apparently this allowance is available to miners too. Never heard the President complain about them (except for the coal miners - he wants to force them out of business)

http://www.answers.com/topic/depletion-allowance

[DManA]

Don’t know anything about the subject but apparently this allowance is available to miners too. Never heard the President complain about them (except for the coal miners - he wants to force them out of business)

http://www.answers.com/topic/depletion-allowance

[Drill Thrawl]

Aren’t gas prices high enough under this yokel already?

Hey gas got to the mid $4 range under Chimpy McBush Haliburton, the Flaming Kenyan can go much higher than that.

Can we please just get rid of this douche bag?

Please do not insult flexible containers of vinegar and water with comparisons like that.

[2harddrive]

There ARE no subsidies! He LIES. We deduct the cost of drilling wells as those costs are incurred. In the case of Intangible Drilling and Completion costs for smaller companies the costs are written off the moment they have no recoverable, ongoing valus.