With the election being the main focus for so long it's great to have the opportunity to speak with friends about issues we have supported and worked for all along. Received this from and friend and GOOD STUFF!!!
One of the chief benefits that the
nation would receive under a Romney-Ryan administration is a return to what I
call “energy realism.” By that I mean understanding that oil and gas are the key
drivers of our national economic engine and will be for decades to
In sharp contrast to this view are the policies of President Barack
Obama who has attempted to “remake” America’s energy reality through top-down,
central planning strategies that chase after a pie-in-the-sky “green jobs”
economy. He has piled on the tax increases, regulations and green subsidies for
companies like Solyndra and others. Remember, Obama is the one who pushed hard
for but failed to pass cap-and-trade, warned that he would “bankrupt” anyone who
wanted to build a new coal-fired power plant, has done nothing to open up
federal lands for oil and gas development, and killed the Keystone XL pipeline
that would have connected U.S. refineries to vast new oil deposits in Canada.
Makes you wonder if the president is running our energy policy for our country
or for special interest groups.
It is really ironic when you have a
president continuously advocating for “corporate welfare” for Big Oil when, as
the Congressional Research Service pointed out in a report last year, the most
expensive energy tax breaks are not for U.S. oil and gas companies but for
renewable energy startups. Yes, and we’re always shocked -- shocked I say -- to
find out that a lot of these green subsidies go to “investors” who are
politically connected to the White House.
So when you hear Obama talking
about an “all of the above” energy policy, he’s probably looking at a list of
DNC-linked donors, bundlers and crony capitalists.
Here’s Obama in the
Oct. 3 debate with Romney:
The oil industry gets $4 billion a year in
corporate welfare. Basically, they get deductions that those small businesses
that Governor Romney refers to, they don’t get. Now, does anybody think that
ExxonMobil needs some extra money, when they’re making money every time you go
to the pump?
Two major problems with this scapegoating of oil companies
for Obama’s own economic failures:
The first is that there truly are no
government “subsidies” or “corporate welfare” for Big Oil. What we’re talking
about are for the most part legitimate tax provisions that apply to virtually
all American manufacturers and producers.
The second problem is that, in
truth, Obama fails to mention that his plans call for raising taxes on our
biggest domestic oil and gas producers by more than $40 billion over the next
Let’s see if I understand this. Obama wants to selectively
raise billions in new taxes on one of the most productive sectors of the U.S.
economy, one that employs more than 9 million Americans with good paying jobs?
At a time when sluggish GDP growth has brought job creation to a virtual
The oil and gas industry also sends $86 million dollars a day
to the U.S. Treasury, and many more millions daily to states like North Dakota,
Texas, Ohio, Pennsylvania and others enjoying an energy boom. Here in Virginia,
where the energy industry amounts to an $11.6 billion sector, there are more
than 128,000 jobs provided or supported – with an average salary of $57,281 for
non-gas station oil and natural gas employees. Just think where we’d be today if
Obama hadn’t put energy resources off the coast of Virginia on his list of “none
of the above” places to develop.
What the White House also fails to see
is that, if you want a technological solution to greenhouse gases, the free
market is the best way to get there. The U.S. oil and gas industry invested $71
billion in greenhouse gas-reducing technologies from 2000-2010. That’s nearly
twice as much as the federal government ($43 billion) and almost as much as all
other investors combined ($74 billion). When private industry invests in green
technologies, it does so with a market test in view. Not so with government
planners, whose idea of a sure thing has ended in multiple failed businesses.
But of course when you’re picking winners and losers in the economy, from the
commanding heights of the Obama White House, you also get to hand out a lot of
Voters will do us all a big favor on Nov. 6 by putting Mitt
Romney and Paul Ryan in charge of America’s energy policies. And none too
Energy’s Benefits for America - *Friends of U.S. Chamber of Commerce Blog:* American free enterprise can achieve almost anything. But, only if we allow it to work properly (this require...
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