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Obama's budget aims at oil industry tax breaks

The Houston Chronicle -- In unveiling his $3.8 trillion spending plan for the government on Wednesday, President Barack Obama revived his attack on oil industry tax breaks and formally launched a plan to pay for alternative vehicle research with drilling dollars.

While the tax plans have no chance of approval this year - lawmakers have rejected similar proposals many times before - they drew outrage from oil and gas industry leaders who said Obama is seeking to use the sector as a piggy bank.

American Petroleum Institute President Jack Gerard said the move is shortsighted, especially since a single sale of offshore drilling leases can net more than $1 billion just in bids to buy drilling rights - even before the royalty payments from oil and gas that might be produced on the acreage.


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Submitted Apr 11, 2013 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Obama's budget aims at oil industry tax breaks Back to Topics
REPLIES (newest first) Post a Reply
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bston
Champion Author Oklahoma City

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Message Posted: Apr 12, 2013 12:03:23 AM

Corruption abounds.
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SammyAdams
Champion Author Tallahassee

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Message Posted: Apr 11, 2013 11:23:13 PM

To: Costello Re: Message Posted: Apr 11, 2013 7:57:29 PM (Printed below)

"Old adage...companies NEVER pay taxes, the consumer always does with HIGHER prices!!!"

=============================================================

Too bad some of these dummies who think they will be "gouging" those greedy oil barons, will (in effect) be causing THEIR fuel prices to escalate. Taxes are merely "windows" where costs are passed through to the consumer.
Think about it. Who would get this money, when tax breaks are taken away from oil and gas companies? The Federal government gets the money and only gets bigger and bigger. And the CONSUMER will be paying this tax increase.

It would be more fitting if we petitioned CONGRESS to abolish all federal gas taxes and allow the states to take complete control over road and bridge maintenance. Then the citizens of each state will have more to say about where the money will be spent.
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NedW
Champion Author Indianapolis

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Message Posted: Apr 11, 2013 11:21:47 PM

Thank you for submitting this article, NOTSOGRN.
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nsdp
Champion Author San Antonio

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Message Posted: Apr 11, 2013 10:42:01 PM

MAC48 name another industry besides oil&gas, and coal that get a depletion allowance.
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Double_Golden
Champion Author San Francisco

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Message Posted: Apr 11, 2013 10:40:09 PM

big corparations always have tax breaks, but we the consumers never have any breaks at all...
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Costello
Champion Author South Dakota

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Message Posted: Apr 11, 2013 7:57:29 PM

Old adage...companies NEVER pay taxes, the consumer always does with HIGHER prices!!!
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MAC48
Champion Author Dallas

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Message Posted: Apr 11, 2013 6:38:01 PM

This proposal is to take away from the coal, oil and natural gas industries the same tax deductions that every other business and person in the US enjoys. This proposal is an attempt to "punish" fossil fuel industries which is definitely not fair and not in any perspective following the American way of treating entities equally.

Then the administration wants to "spend" the dollars not allowed as tax deductions to the coal, oil and natural gas industries as increased "investments" in more alternative fuel development and alternative, presumably non-ICE powered vehicles, vehicles. This "investment" in alternative fuels and alternative vehicles will only waste more taxpayer billions.

What a load of bull crap from the chief bull crappers administration.
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abk
Champion Author Utah

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Message Posted: Apr 11, 2013 4:35:31 PM

When in debt, spend less.
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gass12
Champion Author Omaha

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Message Posted: Apr 11, 2013 3:40:57 PM

Another fight in Congress.
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DocWyeth
Champion Author Allentown

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Message Posted: Apr 11, 2013 3:29:24 PM

at taxing us
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gamalerin
Champion Author Tampa

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Message Posted: Apr 11, 2013 3:26:30 PM

Obama is doing his best.
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TAT36
Champion Author Florida

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Message Posted: Apr 11, 2013 3:26:21 PM

The plan we were told from the beginning was to tax energy, have electric prices sky rocket, and have motorists paying the European price for gas at the pump. Take the tax breaks away, are you ready for $10 a gallon gas at the pumps? Maybe not in the next six months but some where in the future.
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Fhuang66
Champion Author Cleveland

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Message Posted: Apr 11, 2013 3:23:36 PM

Dog fight again.
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5Golfer8
Champion Author Tucson

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Message Posted: Apr 11, 2013 3:21:41 PM

ok
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OnEmptyMO
Champion Author St. Louis

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Message Posted: Apr 11, 2013 3:19:36 PM

emernal: I agree totally.
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Asbury09
Champion Author Iowa

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Message Posted: Apr 11, 2013 3:18:55 PM

at least this is an attempt at something
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Kato51
Champion Author Atlanta

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Message Posted: Apr 11, 2013 3:17:57 PM

Why is a tax break need when considering the amount of money the oil industry is making?
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mikaye
Champion Author Cleveland

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Message Posted: Apr 11, 2013 3:16:49 PM

why should any private industry be funded by taxpayers if they can't make it on their own why prop them up
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Bigtex09
Champion Author Dallas

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Message Posted: Apr 11, 2013 3:15:22 PM

getting closer to a total lost economy
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Ken825
Champion Author Pennsylvania

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Message Posted: Apr 11, 2013 3:11:42 PM

I agree with Ticoman54. I would like to see o'bummer live on my budget.

It is sad commentary that saying, "GM is alive and Osama is dead." gets you re-elected. Especially with the economy in the tank. The majority of voters have set their expectations way lower than mine.
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boldrph
Champion Author Topeka

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Message Posted: Apr 11, 2013 3:10:18 PM

the sotus and potus can cooperate. the hrotus not so much.
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Ticoman54
Champion Author Miami

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Message Posted: Apr 11, 2013 3:07:51 PM

Obama=clueless! What a joke of a president! He has found a way to get elected twice so that he can live high on the hog on taxpayer's funds and the American people ALLOW IT!!!
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caddilac
Champion Author Ontario

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Message Posted: Apr 11, 2013 3:06:28 PM


I could never understand why a company that is making billions of dollars each yeah needs to have a tax break.

It's not like they don't have enough money to pay their FAIR SHARE of taxes.
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emernal
Champion Author St. Louis

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Message Posted: Apr 11, 2013 3:05:37 PM

Why should tax money be going to the oil industry that seems to have no problems making huge profits. The American tax payers should not be subsidizing well established industries.
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falcons
Champion Author North Dakota

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Message Posted: Apr 11, 2013 3:02:19 PM

ok.
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wmderrick
Champion Author Twin Cities

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Message Posted: Apr 11, 2013 3:01:33 PM

Take from the oil industry that is successful and give to the "green" energy industry that is sucking wind...isn't that the new American way?
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wulf2000
Champion Author Miami

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Message Posted: Apr 11, 2013 3:01:02 PM

Corporations don't pay taxes, consumers do.

If the tax breaks are taken away, the costs are passed on to consumers.
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Liberty2000
Champion Author Indianapolis

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Message Posted: Apr 11, 2013 3:00:58 PM

More "green energy" crap.
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No1ConMan
Champion Author Memphis

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Message Posted: Apr 11, 2013 2:59:28 PM

I am so sick of hearing of this person and his dogged determination to bring down this country of 'infidels', it's not even funny! Excuse me, I must answer the door, I just saw a fleet of black SUV's pull up to my house...
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jnseyeongas
Champion Author Milwaukee

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Message Posted: Apr 11, 2013 2:59:05 PM

Oil industry tax breaks are driving them to the RICH HOUSE
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ScottTee
Champion Author Detroit

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Message Posted: Apr 11, 2013 2:58:52 PM

shocker...with sarcasm
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ntass1
Champion Author Edmonton

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Message Posted: Apr 11, 2013 2:54:36 PM

Big oil sucks! close the their tax breaks now.
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oldiesman
Champion Author New York

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Message Posted: Apr 11, 2013 2:53:15 PM

Obamanation is all over this world and getting worse and worse as things go from bad to worse to unbearable!
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belladog
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Message Posted: Apr 11, 2013 2:49:27 PM

you nailed it chinto12
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Chinto12
Champion Author Illinois

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Message Posted: Apr 11, 2013 2:48:41 PM

even the Democrats will not approve of Obama's "budget" and he knows it from the beginning
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idigau22
Champion Author Washington

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Message Posted: Apr 11, 2013 2:47:47 PM

Don't even get me started on Obama this morning!!! PUKE !!
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Chas58
Champion Author Detroit

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Message Posted: Apr 11, 2013 2:44:11 PM

We need a REAL energy policy! Tax exports, limit exports, require minium reserves before export. Use part of the export tax for research and a part to reduce the deficit.
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toxigas
Champion Author Oakland

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Message Posted: Apr 11, 2013 2:42:53 PM

@ Tekkermom57, agreed.
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bigdipperMS
Champion Author Mississippi

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Message Posted: Apr 11, 2013 2:42:52 PM

Obama and his advisers apparently have no idea or a clue how to stimulate the economy or else they are dead set on wrecking the ecomony of the USA.
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Apr 11, 2013 2:40:16 PM

The oil companies make an excessive amount of profit. They don't need the tax breaks that could be used better elsewhere.
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pecos
Champion Author Columbus

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Message Posted: Apr 11, 2013 2:37:29 PM

Yet he was throwing Bush under the bus for similar things...
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THX138
Champion Author San Francisco

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Message Posted: Apr 11, 2013 2:37:17 PM

Bust the bloated free-loaders
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marcelpr
Champion Author New Orleans

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Message Posted: Apr 11, 2013 2:36:56 PM

Love the hand-mouth coordination in Jack's photo..reminiscent of W.C. Fields in "The Bank Dick"

You know HE wouldn't try anything sneaky...

[Edited by: marcelpr at 4/11/2013 2:39:34 PM EST]
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HawaiianGuy
Champion Author Idaho

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Message Posted: Apr 11, 2013 2:35:32 PM

Nothing but playing politics with a target that he knows most people will be on board with. But it will do little to dent the enormous deficit he has built up in the last 4 years. And most Americans are too stupid to put the pieces together and figure this out for themselves. Pity.
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werv4fun
All-Star Author Arkansas

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Message Posted: Apr 11, 2013 2:34:54 PM

Is it 2016 yet?
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moregas1966
Champion Author Columbus

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Message Posted: Apr 11, 2013 2:34:36 PM

ok
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walkit1
Champion Author Memphis

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Message Posted: Apr 11, 2013 2:33:29 PM

I think Mr. Obama screws thing up on purpose.
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WIWalt
Champion Author Wisconsin

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Message Posted: Apr 11, 2013 2:29:37 PM

Get it wherever you can
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humblepie
Champion Author Toledo

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Message Posted: Apr 11, 2013 1:58:53 PM

dont forget all that green crap while your atit obama
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1007
Champion Author Michigan

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Message Posted: Apr 11, 2013 1:52:52 PM

51% voted this person into an office that requires a leader/manager of which he is not.
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