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The price of oil is at an all-time high, having recently reached $105 per barrel. As a result, we are paying more for gasoline at the pump than ever before. Democrats, including Barack Obama and Hillary Clinton on the campaign trail, continually blame the high price on George W. Bush, as if Bush personally sets the market price, or as if Bush policies drive up the cost of oil (and Dems do have at least one point there: war). You hear a lot of talk from Democrats about Bush having buddies in the oil industry, or Bush being a former oilman himself. What you don't hear from Democrats is how THEIR policies have consistently driven up the price of oil, have inhibited the production of domestic oil, have resulted in america importing more oil from foreign countries, have driven up our trade deficit, and have funded our enemies. Such Democratic policies include: forbidding drilling in the Alaskan National Wildlife Refuge (ANWR), forbidding offshore drilling increases, imposing so many regulations that no new oil refineries have been built since the 1970's, high taxes on gasoline, a virtual ban on more nuclear energy......
And now the Democrats are at it again, seeking to drive up the price of gas and home heating oil by imposing $18 billion more in taxes on american oil companies via the Renewable Energy and Energy Conservation Axt of 2008 (H.R. 5351), which passed the House last week. Those additional taxes and removal of subsidies will undoubtedly translate directly to higher prices at the pump for you and I, and will hit the pocketbooks of the poor and working class the hardest. You remember the poor and the working class, don't you ? Those are the ones Democrats claim to help. Maybe Obama can explain this "help" in his next speech about hope and change and unity. When I heard Obama talk about "taking away the profits of Exxon-Mobil" to raucous applause at YSU a couple weeks ago, he left out the part about the resultant higher prices at the pump. I wonder if the crowd would have applauded had Obama told the truth and said, "I'm going to make you all pay through the nose for oil because there MIGHT be global warming". I think not, but that's why he's a politician. Yes we can (destroy the country).
In addition, H.R. 5351 only raises taxes on companies that drill and refine oil in the United States (Exxon, BP, Conoco-Philips, Shell, Chevron), so CITGO, the personal ATM machine of Venezuelan leftist coca-head Hugo Chavez, is exempted and receives a 6 percent advantage over the american companies. I'm sure that will do a lot to reduce our foreign oil dependence. NOT. On the bright side, it has been a week or two since Chavez last threatened to stop selling oil to the U.S.A.
Here's Nancy Pelosi and company making a statement about H.R. 5351, in a stunning example of up-is-down speech:
"With the price of oil above $100 a barrel, this Congress is again taking action to reduce our dependence on foreign oil and support the domestic production of renewable energy...Already pinched at the pump, American families are now feeling the effects of higher energy prices throughout the economy. This legislation is another critical step in a series of concrete actions this Congress is taking to address soaring energy costs, grow our economy and create new jobs, strengthen national security, and begin to reduce global warming."
Pelosi is actually pretending these new taxes will reduce energy costs ! She left out the part where the reduced energy costs won't happen until maybe the year 2025, if ever. This leads me to another point. Why do Democrats keep insisting they are going to create millions and millions of new "green" jobs ? Since when does the government create jobs, other than government jobs ? The private sector is where all the "green" jobs would be created. There is already an enormous market for "green" jobs. Pretty much all the government has to do is get the hell out of the way. Maybe offer some tax breaks as incentives for the new technologies. Huge tax increases is the last thing the government should be doing here, the last thing the government should be doing now, with the price of oil already the highest ever and the country on the edge of a recession.
Bush has threatened to veto this legislation. When he does, I'm sure the Democrats and the media will portray him as being in the pocket of big oil. You can count on that.
In other news from the House of Representatives, 3 post offices were named and two inaugural balls were scheduled last week. The Protect America Act is still unaddressed, hampering our intelligence gathering capabilities against suspected terrorists. Maybe, in another example of up-is-down speech, Pelosi can call a press conference to say that means "americans are safer from terrorism". Oh wait, she already did that.