Obama's goofy energy tax strategy on cost of gas
Image by SS&SS via FlickrBoston Herald Editorial:
Where the hell did Barack Obama learn economics?It demonstrates that Obama will any excuse to drive up the cost of energy even in the name of responding to high gas prices. It is the Alinsky in him to respond to pressure by demonizing attempting to further wound his perceived enemies. What ever the reason, it is a mistake that his opponents will be sure to point out and he will not be able to stampede Congress into raising taxes on energy in order to lower the price of gasoline. To quote Obama, "Does he think we are stupid?"
So he’s in a panic at rising gasoline prices — because there’s nothing worse than angry voters furious at what it costs to fill up the tank, especially at the start of the summer driving season. In a letter sent to congressional leaders Tuesday Obama put part of the blame for the sharp spike in gas prices on “increased global demand” compounded by “unrest and supply disruptions in the Middle East.” Well, China’s demand didn’t spike overnight and any disruptions from the serial crises in the Middle East have far more impact in Europe than here.
So the president notes — again — that “there is no silver bullet.” However, when in doubt blame Big Oil and propose to “eliminate unwarranted tax breaks to the oil and gas industry,” which he insisted were “wasteful subsidies.” Now if you take away $4 billion in tax breaks from the oil industry, what do you suppose that will do to the price of gasoline? Make it go up or down?
We’re not sure how the natural gas industry gets fingered here, but then this White House simply won’t let facts get in the way of a good beat-down for corporate America.