Obama’s $10 Tax Per Barrel Will Bust Oil Industry And American Economy

Obama’s $10 Tax Per Barrel Will Bust Oil Industry And American Economy

Obama’s $10 Tax Per Barrel Will Bust Oil Industry And American Economy

Oh that President Obama….he’s just chock full of stellar ideas! As matter of fact, this week has been nothing but one “bright” idea after another! First it was the mosque visit, then it was the National Prayer Lecture Breakfast and right on the heels of that…Oh look TAX!!

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Yep you guessed, he wants to raise our taxes again. This time he wants to assess a $10 fee on every barrel of oil. Oh but wait …that’s not a tax. Don’t you get it? Its a fee.

In a statement from the White House Thursday, the administration expressed plans to spend more than $300 billion over the next decade, expanding rail and mass transit networks, modernizing freight transportation and expanding research into self-driving cars.

“Our nation’s transportation system was built around President Eisenhower’s vision of interstate highways connecting 20th century America” the White House said. “This new approach to investment and funding is one that places a priority on reducing greenhouse gases, while working to develop a more integrated, sophisticated, and sustainable transportation sector.”

The oil and gas industry has been told y’all! You must fund the country’s transportation infrastructure and all my -Obama’s- green energy idiocy because I said so!

Yep pretty much! Remember folks, Obama warned us way back when that our energy prices would necessarily skyrocket. Well by golly he’s sure working hard to make that happen! Especially if you consider forcing companies into layoffs and bankruptcies a feature rather than a bug.

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Evidently some wind turbines just can’t handle the wind! But seriously folks, what could go wrong with all of this?? Lets take a look at some key reasons

  1. The oil industry is cratering right now. The madly unrealistic EPA regulations combined with OPEC and others playing their own oil games, and Iran rubbing its hands with glee as they prepare to glut the market with their oil are certainly contributing to the problems.
  2. Perhaps the fact that this tax, excuse me, fee would represent a 31% increase in the price of oil per barrel? You and I know EXACTLY who will end up bearing the burden of that smidgen of an increase. Initial projections show that, should the tax be imposed, fuel prices at the pump will jump $.25 a gallon…to start.
  3. Oh but wait! This will be phased in over the next five years! After that it will go away right??  HAHAHAHA! Don’t make me laugh. Seriously folks, our government (I don’t care WHICH party is involved) has never met a tax it didn’t like. I don’t need a crystal ball to tell me that pretty soon (in less than 5 years I’d bet) some “genius” in Congress will push for an increase in that tax and sadly, it might pass!
  4. How well has Obama’s push for green energy worked in the past? Solyndra, Fisker Automotive, Abound Solar, Schneider Electric, and GreenVolts are just a few of the 40 or more companies that have gone bankrupt after using well over $154 Billion or more of taxpayer dollars to fund these pie in the sky ideas.

Fuzzy Slippers over at Legal Insurrection reminds us that Obama has stated multiple times that he wants our energy costs to climb.

What it boils down to is this. Obama is not a happy camper. He doesn’t like the low prices we are getting at the gas pump. He wants to increase the rate of bankruptcies and job losses to the oil and gas industry. He wants his green energy and he wants it NOW. The economic consequences to us all be damned.

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