Obama keeps up push to end gas, oil tax breaks

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  • John C. C. Payson, UT
    April 30, 2011 12:19 p.m.

    Peter agrees with Rep. Lankford, that if we cut subsidies to the oil industry, "The oil companies will simply transfer their losses to the consumer...." A spokesman for the industry says the subsidies are needed to encourage more exploration.

    And when we increased subsidies to Big Oil, did the oil industry simply transfer their profits to the consumer?

  • MenaceToSociety Draper, UT
    April 30, 2011 12:12 p.m.

    Dang it, President Obama, we must continue this corporate welfare to the oil industry! This helps our millionaire politicians raise campaign "contributions" from the oil companies to help them get reelected and stay in power. The billions the oil industry and their upper level management is making is not enough. They also need these government handouts!

    I wonder how many members of upper level management in the oil industry are making ridiculous amounts of money off us and paying little in taxes because they're hiding their income in other countries? Way to help grow the deficit, rich tax cheats.

  • Brother Chuck Schroeder A Tropical Paradise USA, FL
    April 30, 2011 11:43 a.m.

    This GOP says nothing-wrong when Obama declared that oil-companies are profiting from rising gasoline prices and urged Congress once again to end $4 billion a year in oil and gas company tax breaks, and hopefully collect back taxes from them to?. The tobacco industry feared The Patriot Act so Rep. Michael Oxley removed a provision involving money laundering from the bill at the behest of the White House and GOP whip Tom DeLay, under pressure from Big Tobacco. More loopholes that allow qualifying Institutions to still serve as conduits for Tax Evasion that report nothing to the IRS for collection. Is this fair taxing to the poor and middleclass ?. The wealthiest people and the largest corporations in this country have got to contribute. WHO-IN-CONGRESS wrote a amendment to add this "BACK" into The Patriot Act to date?. You tell me. The Exxon Mobile Corp. this week reported nearly $11 billion in profits for the first quarter of this year and paid NO TAXES. Congress has control over oil prices also. Get after the GOP Congress that has control over oil prices, because the wealthiest people and the largest corporations in this country have got to contribute.

  • No One Of Consequence West Jordan, UT
    April 30, 2011 11:31 a.m.

    @ atl134:
    "The taxpayers are paying for those subsidies anyway so it's not like we're paying any more if they pass the costs along."

    Huh? Unless there are corresponding reductions in fuel taxes or income taxes, we will be paying more and the government will be taking in more in taxes.

    It is an interesting political strategy though. Get the uneducated all hating the oil companies and cheering the president on in his plan to 'stick it to the man' by taking away oil exploration tax incentives. Then when the price of gas goes up over $6 or $8 a gallon those same people will believe the president when he tells them the oil companies are out of control because they didn't just take the hit but instead they passed it on to us. And what do you do with an out of control industry? You make more regulations to control that industry, or declare that in this case capitalism is not in the best interest of the nation so the oil companies will have to be nationalized.

    It will be interesting to watch this play out. Interesting but painful.

  • Furry1993 Somewhere in Utah, UT
    April 30, 2011 11:30 a.m.

    GOOD. And I hope he is able to do it in a way that prevents gas prices from incrasing. The oil companies are making high enough, and obscene enough, profits as it is. They need to be reined in.

  • Baron Scarpia Logan, UT
    April 30, 2011 11:02 a.m.

    I don't quite understand people's thinking here: It's okay to subsidize the oil companies and their obscene profits with our tax dollars because that's capitalism. However, it isn't okay to subsidize people's healthcare with tax dollars because that socialism.

    Here's an idea: Instead of giving our tax money directly to the oil companies, how about giving drivers oil vouchers paid for by our tax dollars to help subsidize our gas use... or would that be socialism? Either way, the oil companies benefit from our tax dollars.

    Is the role of government to subsidize hyper-profitable oligopolies that create national security risks (for our oil dependency in the Mideast), economic hardships (charge high prices), drive up healthcare costs (due to pollution), damage fishing and tourism livelihoods (e.g., Gulf oil spill), etc.? People hate subsidies for renewable energy, but such technologies don't create any of these problems... and they're price stable!

  • atl134 Salt Lake City, UT
    April 30, 2011 10:48 a.m.


    The taxpayers are paying for those subsidies anyway so it's not like we're paying any more if they pass the costs along.

  • peter Alpine, UT
    April 30, 2011 9:50 a.m.

    He fooled a few of the "informed" during his campaign, but he's fooling nobody now, despite the medias bias. This man is a menace to a free society. The oil companies will simply transfer their losses to the consumer, affecting the rich and the poor, and BO knows it. The rich will be able to ride this tsunami out, until we can vote the bums out. But the poor will be crushed under the weight of this coward's actions. This isn't about helping the underclass. It's about controlling the masses. We the people will stand together.

  • KM Cedar Hills, UT
    April 30, 2011 8:10 a.m.

    Is this a joke? Are we laughing, king Obama?

    Obama promises that "under his plan energy prices would necessarily SKYROCKET!" And then pretends that he has nothing to do with the ungly inflation that is taking hold of our nation. Who you going to believe, the person that promised high price pain, or the person who feigns innocence? Or is tha ignorance?