Barack Obama has carried out a war on fossil fuels in favor of more expensive green energy sources. He has opposed the Keystone Pipeline project which would create approximately 10,000 jobs and bring millions of barrels of oil into the US. He continues to attack the coal industry, already costing hundreds of jobs. He told us from the onset of his reign that the price of electricity would skyrocket. In the long run, Obama’s energy policies raise the costs of energy, kills thousands of jobs and it’s supposedly all in the name of saving the environment.
Now Obama wants to continue his war on fossil fuels by placing a tax of $10 per barrel of oil. He wants to use the tax to help raise $32.4 billion to pay for ‘the transportation sector by funding public transit, an urban planning initiative and clean vehicle research.’
Jeff Zients, Director of the National Economic Council was overjoyed with Obama’s proposal, saying:
“The president’s plan does what we need to once again have a transportation system that is a source of American strength while at the same time taking steps to reduce carbon emissions and fight climate change.”
The $10 tax per barrel of oil will be charged directed to the oil companies. While that sounds great, you have to realize that since the price of oil has dropped from just over $60 per barrel last May and June to $31.72 per barrel currently, oil companies now struggling to star afloat.
In May 2008, the price was up to $136 per barrel of oil and the oil companies were making billions in profits. However, with the price of oil being the lowest it’s been since 1999, the oil companies aren’t raking in the billions of dollars they were a few year ago. Many oil companies are hurting financially, creating economic disaster in oil depended areas of the nation and many oil related workers are losing their jobs.
Now Obama wants to add to that economic disaster by charging the oil companies another $10 per barrel, driving their bottom line down even further. If his proposal passes, which I doubt it will, it would force the oil companies to start jacking up the prices at the pumps in order to recoup what they’ll have to start paying the federal government
I can’t help but see this as another of Obama’s attacks on the oil industry. It appears that he wants to financially destroy the oil industry to force the nation to embrace his green energy plan, which so far is majorly more expensive than the energy created using fossil fuels.
It seems that I’m not the only person to see through Obama’s proposal. Jack Gerard, President of the American Petroleum Institute released a statement, saying:
“The White House thinks Americans are not paying enough for gasoline, so they have proposed a new tax that could raise the cost of gasoline by 25 cents a gallon, harm consumers that are enjoying low energy prices, destroy American jobs and reverse America’s emergence as a global energy leader.”
“On his way out of office, President Obama has now proposed making the United States less competitive.”
Fortunately, unless Obama resorts to another illegal executive order, I seriously doubt that his proposal will become reality. It’s likely that the Republican controlled Congress will kill the measure. Rep. Steve Scales (R-LA), House Majority Whip had this to say about Obama’s proposal:
“President Obama’s proposed $10 per barrel tax on oil is dead on arrival in the House. The House will kill this absurd proposal, and instead focus on lowering costs and growing our economy.”
Thinking about everything Obama has done to destroy the coal and oil industry in America, I believe the appropriate punishments for his many crimes would be to make him work in a coal mine and/or in the oil fields. Make him live among the miners and oil field workers so that he would finally understand the ways of life for many hard working Americans. How fitting would that be?