Obama's war against Texas

Houston Chronicle:

President Barack Obama’s newly released budget deals a political blow to two pillars of the Houston economy — the energy industry and NASA.

The 2010 spending blueprint, released with great fanfare at the White House on Thursday, targets the energy sector with higher taxes and increased regulation. And it does not extend the life of NASA’s space shuttle beyond next year’s retirement.

Obama proposes to raise $2 billion in the 2011 budget year by ending what he describes as “oil and gas company preferences” ranging from depreciation of oil and natural gas wells to tax deductions for intangible drilling costs such as repairs and hauling supplies.

The president’s budget outline also seeks to impose a new excise tax on Gulf of Mexico drilling leases, create a use-it-or-lose-it fee on existing leases, add new user fees for processing oil and gas drilling permits on federal lands, and end manufacturing tax deductions for oil and natural gas companies.

Energy producers would fund much of the cost of the administration’s “cap-and-trade” system to cut greenhouse gas emissions, an estimated $79 billion in 2012.

...

It appears that Obama is setting out to destroy the economy of the state that has the best job of avoiding the current recession. It is the state that produced over half the new jobs in the last two years. Obama's policies will make it more difficult for Texas businesses while money will be given to liberals who have screw up their states.

Instead of taking advantage of the economic boost from increased energy production, Obama is trying to punish existing production and he is blowing off the jobs and revenue that would be generated by increased domestic production.

Trading real energy for "magic" energy is a good way to waste time and money. The environmental energy hate groups appear to be in charge of the Obama asylum.

If you were serious about a stimulus, NASA would be a good investment. The spin offs from the space program have been much more beneficial than the spin offs from sinkhole investments in the welfare state.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more