April 30, 2011

"Tax Breaks for Big Oil"
— Dave in Texas

What are these, exactly? Because it sounds as if the government has given a huge break to this industry specifically, doesn't it? But nobody says what they are.

(I'm ignoring, for the moment, the stupidity of increasing the price of any commodity because we all know that price is passed on to the consumer.)

Every time prices increase (and often as a result of their friggin stupid policies such as shutting down drilling in the gulf, nixing pipelines and the GODDAMN MOSQUITO AND MOOSE RESERVE ANWR), we hear Democrats bang this "no more subsidies for big oil" drum like monkeys on crack.

Well what's a "big oil tax subsidy?" I know of one. Section 199. IRS Code Section 199

SEC. 199. INCOME ATTRIBUTABLE TO DOMESTIC PRODUCTION ACTIVITIES.

(1) IN GENERAL- There shall be allowed as a deduction an amount equal to 9 percent of the lesser of--

(A) the qualified production activities income of the taxpayer for the taxable year, or

(B) taxable income (determined without regard to this section) for the taxable year.

This deduction was passed in 2004 as part of the American Jobs Creation Act of 2004, and is applicable to all domestic manufacturers.

Not just ExxonMobil and ChevronTexaco.

All. Domestic. Manufacturers. Companies that make soft drinks. Light bulbs. Bedding. Cigarettes. Booze. Condoms (see what I did there?)

Tupperware, Ford, Phillip Morris, Coca Cola and Louisville Slugger. Even Proctor and Gamble. Any company that makes something, here in the US qualifies for a deduction under Section 199. Even ethanol producers.

Except oil companies only get a 6% deduction.

Now, look, it's more complicated than I just described, there are limitations to the deduction that are related to W-2 wages for work performed specifically on the productive effort, the point is, a) it isn't just an oil company tax break and b) other manufacturers who are not filthy oil barons get more of it that the oil companies do.

So here's a suggestion. If you happen to be at a Town Hall, or some event where your duly elected representative to the United States Congress utters these words, walk up to the microphone, be polite, and ask that jackass "could you please explain just ONE of these tax subsidies for oil companies? Just one, that specifically favors them and no other industry"?

Have fun with it. Be playful. People like "playful."

Posted by: Dave in Texas at 07:14 AM | Comments (103)
Post contains 403 words, total size 2 kb.

1

Yeah? But what about Jettexas?

oh, wait...

Posted by: HH at April 30, 2011 09:26 AM (6oDXl)

2
Obama's position is doubly absurd.

Not only does he push the subsidy canard, he claims it is part of the current high cost of gasoline.


Posted by: Soothsayer at April 30, 2011 09:28 AM (uFokq)

3

see what I did there?

I think so. You're saying that the subsidies aren't just for Big Oil (ExxonMobil, Chevron) but also for Big Rubber (Goodyear, Church & Dwight).

Posted by: FireHorse at April 30, 2011 09:29 AM (uUo97)

4 Money is racist.

Posted by: sifty at April 30, 2011 09:29 AM (3PTMc)

5 Double the points if you ask the question at one of the Peesident's townhalls

Posted by: Serious Cat at April 30, 2011 09:31 AM (bAySe)

6
What makes it worse is that while President Populism is demagoguing subsidies for oil companies, we are actually (for realsies) subsidizing Brazilian oil exploration.


Posted by: Soothsayer at April 30, 2011 09:31 AM (uFokq)

7

 walk up to the microphone, be polite, and ask that jackass "could you please explain just ONE of these tax subsidies for oil companies? Just one, that specifically favors them and no other industry"?

 

like they could (scoff) yeahrightok

Posted by: The Great Satan's Ghost at April 30, 2011 09:32 AM (08Pe8)

8 Not only does he push the subsidy canard, he claims it is part of the current high cost of gasoline.

Inability to do basic math like that makes me suspicious of the 116 IQ guesstimate. 

Posted by: Waterhouse at April 30, 2011 09:33 AM (nIZa7)

9

Money is racist.

Not sure about that. Leave some layng around and I can pretty much guaremtee that peoples of all races, creeds and colors will snatch it up.

Posted by: HH at April 30, 2011 09:34 AM (6oDXl)

10 First, does anyone think reducing tax incentives and credits will drive the price of gasoline down?

That being said the oil industry does get better breaks in areas such as equipment leasing then other industries.

Posted by: Quilly Mammoth at April 30, 2011 09:34 AM (EcAS1)

11 I love the smell of oil in the morning.

Posted by: Soona at April 30, 2011 09:35 AM (mQ8a3)

12
Obama keeps getting away with calling a tax incentive a subsidy.

A subsidy is:

i. aid given by the government
ii. a sum paid by the government
iii. a grant or a contribution...by the government

Obama isn't giving ANYTHING to oil companies (except the oil companies in Brazil).

Posted by: Soothsayer at April 30, 2011 09:35 AM (uFokq)

13
Basically, Obama's address this morning was: "Don't blame me; blame the crooks at Big Oil."


Posted by: Soothsayer at April 30, 2011 09:36 AM (uFokq)

14
So how come all the screech bag lefties talk about oil company profits but no mention of total revenue or rate of return on oil stocks.
Of course nobody wants to talk about 94% of the world oil reseves controlled by national oil companies.
My plan will nationalize all national oil companies.

Posted by: Maxine Waters at April 30, 2011 09:37 AM (GBIFc)

15 Very few people understand that there are no taxes on businesses, that all costs of doing business is passed to the consumer.  I tried to explain it to some of my (former) co-workers before the last presidential election.  It is willful stupidity.

Posted by: huerfano at April 30, 2011 09:39 AM (6zFxS)

16
Planned Parenthood gets a subsidy. ExxonMobil does not.

Did you know that PP's CEO makes $400K/yr, btw?

Her salary is subsidized by the [taxpayers] govt. ExxonMobil's CEO's salary is not subsidized.

Posted by: Soothsayer at April 30, 2011 09:39 AM (uFokq)

17

My plan will nationalize all national oil companies.

In that case, I'm investing in Tiberium.

Posted by: HH at April 30, 2011 09:39 AM (6oDXl)

18 In that case, I'm investing in Tiberium.
Posted by: HH at April 30, 2011 02:39 PM (6oDXl)


Didn't Neal Armstrong discover that when he went to Mars?

Posted by: Maxine Waters at April 30, 2011 09:41 AM (GBIFc)

19

Posted by: Maxine Waters at April 30, 2011 02:41 PM (GBIFc)

I think your are correct. Apollo 20, IIRC.

Posted by: HH at April 30, 2011 09:43 AM (6oDXl)

20

Has anyone else heard that it's impossible to lie if you're asking a question?

Example: "It's time we ended subsidies for Big Oil companies!" is declarative. It states an opinion based on factual premises which may or may not be true. In contrast, "Don't you think it's time we ended subsidies for Big Oil companies?" poses a question. It's also based on premises, but the main part of the sentence asks instead of tells. Specifically, it asks something time-related.

Another example: "If the Republicans had their way and got laws passed that would abolish all taxes for Big Oil companies while exempting them from every environmental protection law and regulation which would have enabled them to put lethal poisons into your food and drinking water, what time is it?"

Posted by: FireHorse at April 30, 2011 09:44 AM (uUo97)

21 Can someone explain how A SPAMMER can put multiple links in a post and it's nearly an Act of God for a legit poster to get one to work?

Posted by: Quilly Mammoth at April 30, 2011 09:46 AM (EcAS1)

22
I hate being put in the position of appearing to defend big corporations.

But that's part of the design of the attack by the Left. Crafty bastards, they are.

Posted by: Soothsayer at April 30, 2011 09:47 AM (uFokq)

23 Obama is only toking from the tax pipe and blowing the sweet redistribution to his fellow tax addicts in order to buy the votes needed to keep raping & pillaging big bad oil. He keeps throwing around the figure $4 billion the oil companies have over charged the tax addicts. Hmmm, $4 billion is what the US government borrows everyday! Did you know that the evil oil companies make a 2 cent profit on every gallon of gas they sell? I bet you did not know that the federal government is charging YOU 60 cents per gallon on every gallon of gas you buy? Who is really ripping off who? I challenge the federal government to only take the same amount from a gallon of gas that the oil companies make. That would be fair!

Posted by: izoneguy at April 30, 2011 09:48 AM (83mM1)

24 Another good question would be, "Please explain how creating a new law that specifically targets American companies with higher taxes to punish them for legally making profits is not a Bill of Attainder."

Posted by: Eric at April 30, 2011 09:48 AM (/piN8)

25

Look.  This is nothing new and it will go on as long as there's leftists, especially leftists in power in this country.  No amount of reasoning is going to change their minds.  Leftists hate private property and anyone who happens to make a profit from that property, period. 

So what we need to do is ignore them, or better yet, laugh at them while we continue to vote these destroyers of our country out of office.  That includes RINO's willing to go along to get along too.

I'm getting old and tired.  Many days I feel we should either have a major geographical split in this country or just have the civil battle  that we all know is coming eventually.  Afterwards we can lump all the libtards together and let them stew in their own pudding or ship all of them to Canada. 

Posted by: Soona at April 30, 2011 09:49 AM (mQ8a3)

26 21

Has anyone else heard that it's impossible to lie if you're asking a question?


Sort of like, "Have you stopped beating your wife?"



Posted by: I'm the Honey Badger, BITCH! at April 30, 2011 09:50 AM (fJhBR)

27

Government subsidies are only good for highly inefficient sources of energy that require subsidies for viability.

Plus, this means that we all have to use less (be poor together) and have a government bureaucracy to control and micromanage energy use.

Posted by: Typical Liberal at April 30, 2011 09:52 AM (VoSja)

28 Someone help me.  Why, when oil prices skyrocket, do liberals suggest bringing down the price by raising taxes on the oil companies?

I love subsidies for Big Oil.  That's "subsidies for everyone who buys gas."

Posted by: FUBAR at April 30, 2011 09:52 AM (1fanL)

29

Posted by: I'm the Honey Badger, BITCH! at April 30, 2011 02:50 PM (fJhBR)

That nick just made me laugh...

Posted by: HH at April 30, 2011 09:52 AM (6oDXl)

30 Posted by: Soothsayer at April 30, 2011 02:47 PM (uFokq)

I simply explain to to people it's foreign national oil companies that control production/prices using OPEC as an example.
I generally get two reactions: oh or la,la,la, I can't hear you.

Posted by: Maxine Waters at April 30, 2011 09:53 AM (GBIFc)

31 Hey, how can I pay for Big Oil subsidies when I'm spending all I've got on GE?

Posted by: King Barry the JEF at April 30, 2011 09:53 AM (vdfwz)

32 Another good question would be, "Please explain how creating a new law that specifically targets American companies with higher taxes to punish them for legally making profits is not a Bill of Attainder." Posted by: Eric at April 30, 2011 02:48 PM

I am, uh a Constitutional scholar, and um, uh, I said so.

Posted by: Barry Obama at April 30, 2011 09:55 AM (6zFxS)

33

Sort of like, "Have you stopped beating your wife?"

Yeah. Wouldn't you love to ask the president if he quit doing any of those drugs he did in college? Then, when he doesn't answer yes or no, you can publish that he wouldn't give you a straight answer.

Posted by: FireHorse at April 30, 2011 09:57 AM (uUo97)

34 tick tick tick tick tick tick tick tick...............

Posted by: Mayan Calender at April 30, 2011 09:58 AM (mQ8a3)

35 29 Someone help me.  Why, when oil prices skyrocket, do liberals suggest bringing down the price by raising taxes on the oil companies?

Because that is the liberal's approach to everything.

Step 1:  Tax!
Step 2:  ????
Step 3:  Profit! 

Posted by: Kratos (Ghost of Sparta) at April 30, 2011 09:58 AM (9hSKh)

36 23
I hate being put in the position of appearing to defend big corporations.

But that's part of the design of the attack by the Left. Crafty bastards, they are.

Posted by: Soothsayer at April 30, 2011 02:47 PM (uFokq)

Well don't think of it as defending big corporations.  Think of it as preventing the government from making companies raise prices on the population.

Posted by: buzzion at April 30, 2011 09:59 AM (oVQFe)

37 Shouldn't cigarettes come at the end of the list, after booze and condoms?

Posted by: Clinkmd at April 30, 2011 10:01 AM (XR47G)

38 22 Can someone explain how A SPAMMER can put multiple links in a post and it's nearly an Act of God for a legit poster to get one to work?

Posted by: Quilly Mammoth at April 30, 2011 02:46 PM (EcAS1)

Financial incentive is a very powerful reason to make sure you know how to get around that problem.

Posted by: buzzion at April 30, 2011 10:02 AM (oVQFe)

39 "Oil profits soar as Obama proposes ending tax breaks for oil companies"

Let's see.  Gummint oil profits are also soaring.  End tax breaks for big gummint?

How do Democrats get away with proposing exactly what would make the situation worse?

It's like my dad admitted to me about taxing the evil rich people:  it's not about tax revenue, it's about punishment.

Posted by: FUBAR at April 30, 2011 10:04 AM (1fanL)

40  Shouldn't cigarettes come at the end of the list, after booze and condoms?

Posted by: Clinkmd at April 30, 2011 03:01 PM (XR47G)

 

C'mon.  Me and the chicken have been raped enough to qualify for the top of the list.

Posted by: Cigarette butt at April 30, 2011 10:05 AM (mQ8a3)

41 Will the non-Section 199 inner-city bus riders support me (like I've done them for the past 40 years) when I can no longer commute to my job from the 'burbs of America?

Posted by: Big Corp. Job Guy at April 30, 2011 10:05 AM (Sos7/)

42 "Have fun with it. Be playful. People like 'playful.'"

And showing your hooters doesn't hurt either.  Just sayin'

Posted by: Flounder at April 30, 2011 10:05 AM (Kkt/i)

43

I would also like to know what specific unwarranted and exclusive tax breaks Oil companies are getting that no other company is getting?

Is this just a case of bizzare liberal logic that a failure to RAISE taxes on oil companies is the same as giving them a tax cut?

Posted by: gumble at April 30, 2011 10:06 AM (JUJ+X)

44

The jackassocrats answer to high gas was to put out a sort of a PSA saying that we should look around for the best deal.

Just fucking briliant. Drive around with gas in your tank that you paid $4.50/gallon for to see if there might be a better deal

Posted by: beedubya at April 30, 2011 10:07 AM (AnTyA)

45 In that case, I'm investing in Tiberium.
Posted by: HH at April 30, 2011 02:39 PM (6oDXl)

That's "Tiberius," you retard.

Posted by: Capt. James T. Kirk, USS Enterprise at April 30, 2011 10:07 AM (1fanL)

46 The government's motto is; "if it moves, tax it.. if it stops moving, subsidize it" - Ronald Reagan

Posted by: kbdabear at April 30, 2011 10:08 AM (vdfwz)

47 @45

Thanks for my first lol of the day.

Posted by: Flounder at April 30, 2011 10:08 AM (Kkt/i)

48

Financial incentive is a very powerful reason to make sure you know how to get around that problem.

Is it ever! They're effective, too. Besides, what boosts to my confidence to have sweet new kicks, a gold watch and a full head of hair. The downside is that I think I wasted it all by getting engaged to an Arab girl over the Internet.

Posted by: FireHorse at April 30, 2011 10:09 AM (uUo97)

49

Posted by: Capt. James T. Kirk, USS Enterprise at April 30, 2011 03:07 PM (1fanL)

Oh man, you guys are making my day...

Posted by: HH at April 30, 2011 10:11 AM (6oDXl)

50 The government's motto is; "if it moves, tax it.. if it stops moving, subsidize it" - Ronald Reagan

Posted by: kbdabear at April 30, 2011 03:08 PM (vdfwz)

 

I so miss that man.  Sometimes I think God and allzheimers took him away way too soon.  If nothing else but just to keep reminding us of just how good and great this nation can be.

Posted by: Soona at April 30, 2011 10:14 AM (mQ8a3)

51 If we could tax Liberal Stupidity, the national debt would vanish overnight.

Posted by: eman: Japanese Babe Rescue Team at April 30, 2011 10:15 AM (nLQvb)

52 Oil?  Never heard of it.

Posted by: Charlie Gibson at April 30, 2011 10:16 AM (J1eJz)

53 News is a commodity.   Where's my fucking 9 percent?

Posted by: Helen Thomas at April 30, 2011 10:17 AM (Sos7/)

54 The government's motto is; "if it moves, tax it.. if it stops moving, subsidize it" - Ronald Reagan

Posted by: kbdabear at April 30, 2011 03:08 PM (vdfwz)

I so miss that man.  Sometimes I think God and allzheimers took him away way too soon.  If nothing else but just to keep reminding us of just how good and great this nation can be.

Posted by: Soona at April 30, 2011 03:14 PM (mQ8a3)

I saw a good one the other day: "Government doesn't solve problems, it subsidizes them."  I almost teared up.

God was kinda selfish with Reagan, huh?

Posted by: FUBAR at April 30, 2011 10:17 AM (1fanL)

55 Acting is my craft.  Where's my fucking 9 percent?

Posted by: Johneaneane Garafalolow at April 30, 2011 10:18 AM (Sos7/)

56

http://tinyurl.com/6bon6z2

 

The oil industry's most powerful trade group is rebutting claims that the industry receives lavish public support.

"This is a tired old argument we've been hearing for two years now," said American Petroleum Institute chief economist John Felmy.

"If the president were serious about job creation, he would be working with us to develop American oil and gas by American workers for American consumers. The federal government by no stretch of the imagination subsidizes the oil industry. The oil industry subsidizes the federal government at a rate of $95 million a day."

Posted by: gumble at April 30, 2011 10:18 AM (JUJ+X)

57 Posted by: Johneaneane Garafalolow at April 30, 2011 03:18 PM (Sos7/)

If you ever run into her...well, first, I'm very sorry.  Second, make sure and tell her that "The Truth About Cats and Dogs" was your favorite movie.

Posted by: FUBAR at April 30, 2011 10:19 AM (1fanL)

58

Posted by: gumble at April 30, 2011 03:18 PM (JUJ+X)

Damn!!!

Fight, fight!

I'd love to see this dude on the Sunday morning Talk shows.

Posted by: HH at April 30, 2011 10:20 AM (6oDXl)

59 All we need to do is keep the carbon-neutral, non-organic, non-particulate-polluting, carbon dioxide-free homefires burning.  All will be well if we do that.

Posted by: Soona at April 30, 2011 10:21 AM (mQ8a3)

60 Vampires always want more blood. Liberals are Communists in a larval stage. DOOM approaches.

Posted by: eman: Japanese Babe Rescue Team at April 30, 2011 10:22 AM (nLQvb)

61 Why, when oil prices skyrocket, do liberals suggest bringing down the price by raising taxes on the oil companies? Because then you can take that tax money and invest it in green energy. Duh. Stupid wingnut.

Posted by: Lefty Hussein McMoonbat at April 30, 2011 10:23 AM (2jQGY)

62

I've said it before, but it really is amazing to watch the world's sole superpower choose to eschew all of those high paying energy jobs and have high oil prices. Especially with real unemployment well above, what 15%? Who needs all of that pesky prosperity anyways?

I would LOVE to see a sign, ANY meaningful sign, that America is going to wake up and suddenly pull away from the DOOM wall we're about to crash into. 

Posted by: Canadian Infidel at April 30, 2011 10:24 AM (GKQDR)

63 Stolen from an obviously brilliant commenter at HotAir:

If Obama’s skin was any thinner he’d have a reservoir tip coming out on the top of his head.

rollthedice on April 30, 2011 at 2:12 PM


BWAAAA!

Posted by: FUBAR at April 30, 2011 10:24 AM (1fanL)

64

Yeah, it seems like they're never the least bit specific about what these tax breaks are. Then they'll throw out a number, in the few billions. As though a few billion dollars means anything to either the oil companies or the govt. And they'll do that at the same time the numbers come out that an oil company has made 10 times the number (which is annualized, and for the entire industry) in a single quarter.

I always figured that it was tax breaks to get oil companies to do stupid stuff they wouldn't otherwise do, but now it sounds like it doesn't even amount to that.

Posted by: Optimizer at April 30, 2011 10:25 AM (F56VB)

65

What are these, exactly? Because it sounds as if the government has given a huge break to this industry specifically, doesn't it? But nobody says what they are.

Forget it. It's like Wall Street being in bed with the GOP. That must be on a spiritual plane only, because anyone who looks at campaign contributions on OpenSecrets.org realizes that Wall Street is bunking with the Dems.

Similarly with Big Business supporting the GOP. Only small family proprietorships like GE support the Dems, or are mobbed up with them.

Posted by: Jay Guevara at April 30, 2011 10:25 AM (9KAWe)

66

Posted by: FUBAR at April 30, 2011 03:24 PM (1fanL)

I love that line and use it often....

Posted by: Canadian Infidel at April 30, 2011 10:27 AM (GKQDR)

67 1 gallon of gas. $4.30 (California) Obscene greedy oil company profit: 38 cents Reasonable morally just patriotic taxes: 66 cents F* you Obama.

Posted by: MikeTheMoose at April 30, 2011 10:28 AM (msGEc)

68

The Obamacare fans love to point out that the US is the only industrialized country without universal health care.

The same guys don't seem to mind that the US is the only country of ANY kind that foregoes complete utilization of its oil reserves.

Posted by: Optimizer at April 30, 2011 10:28 AM (F56VB)

69

Oil Industry Fires Back on Administration's Criticism

http://tinyurl.com/5vgyu6y

Posted by: gumble at April 30, 2011 10:29 AM (JUJ+X)

70

 

"The oil industry subsidizes the federal government at a rate of $95 million a day."

the truth, it stings the moonbat's skin

Posted by: sooth at April 30, 2011 10:29 AM (uFokq)

Posted by: Kratos (Ghost of Sparta) at April 30, 2011 10:29 AM (9hSKh)

72

If Obama’s skin was any thinner he’d have a reservoir tip coming out on the top of his head.

Isn't that a Dennis Miller line?

Posted by: ErikW at April 30, 2011 10:30 AM (u+wq4)

73

Serious question. I've seen different quotes heare about how much profit per gallon of gas that the oil companies make. They all seem to vary.

Anyone know of a good site to get the actual info?

Posted by: HH at April 30, 2011 10:31 AM (6oDXl)

74
Will the non-Section 199 inner-city bus riders support me (like I've done them for the past 40 years) when I can no longer commute to my job from the 'burbs of America?

Posted by: Big Corp. Job Guy at April 30, 2011 03:05 PM (Sos7/)

Wow! You must live in the wrong place.  Every weekend, welfare queens show up at my house and ask to cut the lawn and wash the cars.  I refuse their generosity because it wouldn't be fair to ask them to perform for free money.  Well, that's according to the liberal/socialist in the Obama administration.


Posted by: Fish the Impaler at April 30, 2011 10:32 AM (ndqJC)

75 I heard a piece on Hannity (I think but may have been Cavuto) that stated that almost all these subsidies went to small driller outfits who are doing almost all the drilling in the US. None to big oil companies.

Posted by: ag at April 30, 2011 10:33 AM (Bl0cf)

76 Some include the rack price.

Posted by: FlaviusJulius at April 30, 2011 10:35 AM (qIHlG)

77 Anyone know of a good site to get the actual info? I just used an extension of exxon's profit margin 9%. The actual profit they make on a gallon of gas is less due to markups. And the actual taxes collected is more (corporate income tax and other taxes)

Posted by: MikeTheMoose at April 30, 2011 10:37 AM (msGEc)

78

http://tinyurl.com/3tezc4


Oil Company Tax Breaks?
Both leading Democratic candidates have referred to tax breaks to oil companies:

Clinton, July 23, 2007: First of all, I have proposed a strategic energy fund that I would fund by taking away the tax break for the oil companies, which have gotten much greater under Bush and Cheney.


Obama, June 22, 2007: In the face of furious lobbying, Congress brushed aside incentives for the production of more renewable fuels in favor of more tax breaks for the oil and gas companies.


Both candidates are referring to H.R. 6, the 2005 energy bill that contained $14.3 billion in subsidies for energy companies. However, as we’ve reported numerous times, a vast majority of those subsidies (all but $2.8 billion) were for nuclear power, energy-efficient cars and buildings, and renewable fuels research. In addition, according to the nonpartisan Congressional Research Service, the tax changes in the 2005 energy bill produced a net tax increase for the oil and gas companies, as we’ve reported time and time and time again. They did get some breaks, but they had more taken away.

Posted by: gumble at April 30, 2011 10:37 AM (JUJ+X)

79

Oil Industry Fires Back on Administration's Criticism

http://tinyurl.com/5vgyu6y

Posted by: gumble at April 30, 2011 03:29 PM (JUJ+X)

I know these guys are coached to remain calm and dispassionate.  But sometimes, a little emotion would help, I think. 

"I'm confused how raising the cost of doing business for oil companies is going to lower prices."

"I'm astonished that the idiot voters of California keep sending a woman with the intelligence of a jellyfish (sorry, jellyfish!) to Congress."

"Obama is a Marxist and he can kiss my ass."

You know.  Something like that.

Posted by: FUBAR at April 30, 2011 10:38 AM (1fanL)

80

If Obama’s skin was any thinner he’d have a reservoir tip coming out on the top of his head.

Isn't that a Dennis Miller line?

Posted by: ErikW at April 30, 2011 03:30 PM (u+wq4)

I remember now, it was a Nick DiPaulo line I heard on Miller's show.

Posted by: ErikW at April 30, 2011 10:38 AM (u+wq4)

81 Exxon Mobile Perspectives puts profit at 2 cents per gallon.

Posted by: FlaviusJulius at April 30, 2011 10:39 AM (qIHlG)

82

Reminds me of Obama's energy speech.

Made fun of "Drill, Baby, Drill". Lamented about how every president gets up there and says we need to reduce our dependence on foreign oil, and then do nothing.

He even admitted that we will actually need the oil for decades to come (I was kind of surprised). He declared that our best resource was in our own backyard. One would think that would mean energy resources in this context, but instead explained that it was "innovation" (which is a kind of capitalistic notion, but in this case probably just means "unicorn poop"). Then he admitted that it would take a decade for alternatives to be developed.

So, having admitted that we'll need the oil, and that there will not be some miraculous substitute any time soon, and having said "Drill, Baby, Drill" was not the answer, he claimed that we will drop our dependence of foreign oil by 1/3 anyway.

I couldn't help but think "25th Amendment". But, then again, maybe he was predicting a massive increase in the price of oil, meaning we would import less because we simply could not afford it.

Posted by: Optimizer at April 30, 2011 10:39 AM (F56VB)

83 Posted by: huerfano at April 30, 2011 02:39 PM (6zFxS)

My problem with their inability to understand a concept so basic to our (pseudo) market economy is the difficulty I have with restraining my: "Are you really that fucking stupid?"

Posted by: CharlieBrown'sDildo (NJConservative) at April 30, 2011 10:55 AM (LH6ir)

84

I couldn't help but think "25th Amendment.

I'm not sure anyone would want to evoke the 25th Amendment.

That thing is just weird.

Although, in this case, I could probably  make  an exception...

Posted by: HH at April 30, 2011 10:56 AM (6oDXl)

85 With commiecrats ANY tax deduction for evil big business is a "subsidy" while direct cash subsidies to their cronies and paymasters is not.

Posted by: Vic at April 30, 2011 11:02 AM (M9Ie6)

86 Thanks for posting this Dave. It sure would be nice now if the MBM playas like AP would do a 'fact check' on these claims.

Posted by: GnuBreed at April 30, 2011 11:37 AM (ENKCw)

87 Section 199'd be nice to have a linky, to show Prog's the truth, the light and the way.

Posted by: Tom at April 30, 2011 11:43 AM (MWXXs)

88 Obama keeps getting away with calling a tax incentive a subsidy. Yeah, well, he also calls a tax reduction spending.

Posted by: Socratease at April 30, 2011 11:44 AM (KAjQC)

89 25Another good question would be, "Please explain how creating a new law that specifically targets American companies with higher taxes to punish them for legally making profits is not a Bill of Attainder."

Posted by: Eric at April 30, 2011 02:48 PM (/piN  

A better question would be, "Could you explain how creating a new law that specifically targets American companies with higher taxes to punish them for legally making profits is not a Bill of Attainder?" Better because it is actually a question. It is even marked as a question. With a question mark.

 

Posted by: Smartass McSmartasserson at April 30, 2011 11:49 AM (d6wkB)

90

Anyone know of a good site to get the actual info?

Try here: http://tinyurl.com/4yvns7s

See especially the graphs showing gasoline profit margins.  Those are the total profits at all points along the extraction, refining, and marketing line.

Also see the raw data on which those graphs are based at the Energy Information Administration (eia.gov) site linked within the page.

Posted by: crisis du jour at April 30, 2011 11:53 AM (J1eJz)

91

Posted by: crisis du jour at April 30, 2011 04:53 PM (J1eJz)

Not an easy site to navigate, but I did find the EIA site. Shows that our own oil production has been dropping for years.

And something I didn't know. 51% of our oil is imported, more than I thought. But half of that is from the western hemisphere (methinks Canada).

Jeez, maybe someone could show that graph to our prez and have him change his mind about drilling and dependency on foreign oil.

Or am I just being silly?

Posted by: HH at April 30, 2011 12:15 PM (6oDXl)

92 I dunno. They want to call them subsidies. Why not give them an inch and take a foot? There really are subsidies out there that should be ended now—such as to the NEA, NPR (they’re still getting something, right?), Planned Parenthood. Name your own most hated actual subsidy. Republicans should be taking this and saying, yeah, you’re right. We should end all subsidies. And then craft a bill to do that with the real definition of subsidy. And since the oil company “subsidies” are just complicated tax law, tie it to a revenue-neutral tax simplification.

Posted by: California Tower at April 30, 2011 12:29 PM (7Ahkq)

93 Not charging more for mineral rights / leases on federal land could be interpreted as a subsidy.

I know that I have heard that argument years ago.

Posted by: Druid at April 30, 2011 12:34 PM (RnujI)

94 Just think how cheap gas would be if we eliminated all the oil and gas companies!

Posted by: Muckdog at April 30, 2011 12:49 PM (45+0d)

95

Oh, oh, oh, I know one, I know one!!!!

Volumetric Ethanol Excise Tax Credit (VEETC)

The oil companies get a $5 billion a year tax credit for blending ethanol into gasoline.  A tax credit is against the taxes you owe, not a deduction on the profits you make, thus it's worth a lot to the oil companies.  Maybe that's the tax break Obama wants to end????   Contact the GOP House and Senate leadership immediately and AGREE with Obama to end this rip off of the American public - Ethanol. 

GREEDY, GREEDY, GREEDY.

Posted by: dscott at April 30, 2011 01:54 PM (NGe7F)

96 Congress makes the laws.  Congress makes the loopholes.  Then Congress complains about the greed of the companies.  Congress never refuses bribes campaign contributions from the greedy companies.

I believe I have discovered the root cause of the problem.

Posted by: MarkD at April 30, 2011 02:29 PM (6CLxP)

97 It's not my fault!

Posted by: barack hussein obama at April 30, 2011 02:35 PM (GTbGH)

98 If subsidies and write off's are so bad, lets get rid of ALL OF THEM!

Posted by: Douglas at April 30, 2011 02:46 PM (YKOnu)

99

You're wrong, Dave

It's the 15% Depletion allowance, the tangible/intangible drilling costs and other things that have been in place and help the small independent and landowners tremendously.

Fuck with that like that little leftwing cunt of a "man" wants to do, and domestic drilling will collapse.

Posted by: TexasJew at April 30, 2011 03:38 PM (uR5Zf)

100 Dave said light bulbs.  Light bulbs? We doan make no steenking light bulbs.  The Chinese make the light bulbs, but they are really mercury time bombs.  After a random time period the curly bulbs automatically explode and spray a fine mercury mist throughout the room, maybe even at night when you are asleep.

GE wanted this. It is "Green".

Posted by: Gandalf de Blanco at April 30, 2011 04:12 PM (1Ap7+)

101 Confused as to whether your interlocutor is a Liberal?

Ask them who pays corporate income tax.

If they can't answer it correctly, they're a Liberal.

It's worked every time I ask it, and it's one of the reasons we're in this damnable mess.

Posted by: Merovign, Dark Lord of the Sith at April 30, 2011 04:28 PM (bxiXv)

102 That's one brave woman...

The newly wed Photo is hilarious by the way. LOL

Posted by: pacman vs margarito at April 30, 2011 05:07 PM (SNLC/)

103 I hear that AL GORE owns OXIDENTAL PETROLIUM and many enviromental groups have their own oilwell and BP donates to the NATURE CONSERVANCY

Posted by: Spurwing Plover at May 01, 2011 06:20 AM (vA9ld)

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