On Ending Those ‘Subsidies’ For Oil Companies


President Obama again vowed to end “subsidies” for oil companies. Pardon me, but when President Bush cut income taxes, did he give my family a “subsidy,” or simply allow us to keep more of the money we work so hard to earn?

Again, Obama is not being straight with people.

Say Anything has the scoop – here’s an excerpt:

What’s going on here is a bit of sleight-of-hand. Obama and other world leaders are talking about “ending subsidies” for fossil fuels. What they really mean is raising taxes on fossil fuels so that the so-called “green energy” projects they’re all so drippy about are more competitive in world energy markets.

What this means for you and me is higher energy prices and, by extension, a higher cost of living across our entire economy as those higher energy prices translate into higher prices for goods and services (everyone has to pay their power/fuel bills).

And it won’t just be the taxes adding to our expenses. If higher taxes drive more fossil fuel producers out of the market (and that’s clearly the goal here), they will be replaced by much more expensive and much less reliable “green energy” producers. That, again, means a bigger hit to the wallets of Americans.

Meanwhile, this report concludes that cumulative US subsidies of biofuels could reach $1 trillion over the next two decades. And that’s just biofuels, not other initiatives like wind power or solar power.

It’s called Watermelon Marxism. Anyone who believes in freedom and a free market should oppose this.