Obama: “Lower Gas Prices? Who Cares? I Don’t”

At least Jimmy Carter attempted to sorta say he cared about high gas prices. Obama can’t even work up a bit of empathy

(NY Times) With his re-election fate increasingly tied to the price Americans are paying at the gas pump, President Obama asked Congress on Thursday to end $4 billion in subsidies for oil and gas companies and vowed to tackle the country’s long-term energy issues while shunning “phony election-year promises about lower gas prices.”

In other words, you’re on your own, chumps. King Obama has spoken, and has no intention of doing a damned thing that would attempt to decrease, or even stop, the ever higher prices we, His subjects, pay at the pump.

That said, I wouldn’t be surprised if he changed his tune sometime around mid-September, when he sees the pain at the pump moving people over into the Romney or Santorum camp (whichever gets the GOP nod) and his re-coronation prospects decreasing. But, as we’ve seen from Obama, what he will offer will be empty promises.

Mr. Obama, in a (taxpayer funded) appearance at Nashua Community College here, took a page out of his jobs strategy of last year, calling on Americans to contact their Congressional representatives and demand a vote on the oil subsidies in the next few weeks.

“You can either stand up for the oil companies, or you can stand up for the American people,” Mr. Obama said. “You can keep subsidizing a fossil fuel that’s been getting taxpayer dollars for a century, or you can place your bets on a clean-energy future.”

How about the massive funding for failing “green” energy companies wasted by the government? Could have saved $4 billion there. The taxpayer subsidized ethanol industry, which even the NY Times thinks is a bad idea? It’s about $6-7 billion a year. And, remember, Obama wants the subsidies for purchasing a Chevy Volt to go up to $10k per purchase, which helps out those in the $170k a year and higher earnings bracket.

The president criticized Republicans who have called for the country to increase its own oil production, declaring that “anyone who tells you we can drill our way out of this problem doesn’t know what they’re talking about.” With the United States consuming more than 20 percent of the world’s oil while having only 2 percent of the world’s oil reserves, Mr. Obama said “we can’t rely on fossil fuels from the last century.”

I’ve always taken the position that (NMP) Obama was simply clueless and hyper-partisan. Now I simply think he’s an idiot, about 5 steps beyond clueless. If the demand is up, and the supply is low, causing prices to rise, then you….increase the supply! That’s 1st grade economics. In countries that have large supplies over their own oil, prices at the pump are low. They pay about .98 cents American in Bahrain. Many countries are moving away from subsidizing the “green” energy industry, ones like Germany, who realize they are dumping enormous amounts of money into a sector that is providing little to no return on the investment, and is providing little usable energy.

One day the alternative energy sector will be viable enough from cost and production standpoints to do away with most use of fossil fuels/energy sources. Could be in 10 years, could be in a hundred or more. Personally, I’m hoping for sooner rather than later. But, we cannot ignore our energy needs now. But, why should Obama care? The taxpayer provides it all to Obama for free. He’s not pulling out his wallet and paying.

Crossed at Right Wing News and Stop The ACLU.

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4 Responses to “Obama: “Lower Gas Prices? Who Cares? I Don’t””

  1. Black Flag says:

    Michelle Malkin covers ANOTHER green energy company laying off most of its workforce. Meanwhile Obama and Chu congratulate themselves on a job well done.

  2. david7134 says:

    Isn’t the money that Obama is talking about the depreciation allowance? If that is so, it is a legitimate accounting expense, just as the same as any business taking off there computers or any other purchase. Thus, if that is removed, then other companies will likely not be able to justify expenses for hard goods.

    Also, the price of oil is a future. It is the expectation of supply as well as uninterrupted delivery several years in advance. I feel the markets would correct if Obama left office. He is a nut and nuts send up the price of everything. This happened with Carter in the 70’s. The supply of oil was interruped in the 70’s, but the real problem was the public perception of Carter.

    If this is true with Obama, then it is an indication that he does not stand a chance in hell of re-election. The true poll is in the price of commodities. I think you could run a dead dog against the guy and win.

  3. gitarcarver says:

    david,

    Isn’t the money that Obama is talking about the depreciation allowance?

    Yes and no. He is talking about the accelerated depreciation benefits oil and gas companies receive and that is something that other industries receive as well. However, there are some specific and even outdated tax credits and subsidies the oil industry receives that can be eliminated. See here for more details.

    The second issue has to be the subsidies for oil and gas companies that are producing energy and are successful verses subsidies into alternative energy sources that are not producing cost efficient energy and are not financially viable. See here for a discussion and relative cost examination on that subject.

    Obama’s stance is one of picking winners in the marketplace. He believes that certain industries should be supported and other industries should not. As long as he can keep taking pot shots at groups with the media eating it up, it keeps people from focusing on his dismal record as a president.

    I will say that I disagree slightly with Teach that Obama is clueless. Obama’s campaign pledge was to “fundamentally change the United States.” He has done that to the detriment of the country. While it may appear he is incompetent, he is achieving his stated goal. Because that goal takes on so many diverse areas, it is almost impossible to see him accomplishing it if he were clueless.

    Nobody can be that stupid and do what he has done.

  4. Gumball_Brains says:

    On this, I agree with carver. Obama is not clueless. He is incompetent, but not clueless. He appointed the people that would help him enact his america-destroying objectives.

    And, I think most people agree that the Gov’t should not be involved in subsidizing anything directly or via tax-credits. Esp pet projects. They should not provide funds to any private industry.

    I think what has not been opined this year, as it was done 4 years ago…. a temporary elimination of petroleum fees and taxes. That will reduce the price of gas – for everyone.. especially the mid to lower class of income earners.

    And, I really want to see Republicans begin by enacting bills to open up energy sources AND open up unused federal lands for construction of refineries. That way, they can use it during the election as a hammer to hold over democrats.

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