Tuesday, May 3, 2011

Big Oil Fights President Obama to Keep Tax Subsidies

CNNMoney has an excellent article outlining oil companies' vicious attacks against the Democrats desire to end billions of tax subsidies.
The industry's chief lobbyist in Washington, Jack Gerard, president and chief executive of the American Petroleum Institute, said raising taxes on the oil and gas companies would stifle job growth and do nothing to lower gasoline prices.

"It's not right that Montanans are paying anywhere from $3.50 to $4 a gallon for gas at the pump while big oil companies are raking in near record profits," Max Baucus, Democratic chairman of the Senate Finance committee, said last week.

Doc Hastings, the Washington Republican who is chairman of the House Natural Resources committee, blamed the Obama administration last week for high gas prices, saying the energy policies of the last two years have blocked access to domestic energy sources.

It's amusing that the Republicans blame President Barack Obama in this issue, while they do absolutely nothing to force oil companies to play their game fairly. We all our supporters be aware of the Republicans approach as this issue's going to play huge role in 2012 presidential campaign. If you enjoy high fuel prices at the pump, keep voting Republican because they are elected to serve big oil and gas companies, not the average American families.
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