Cantor critiques Obama’s energy plan
|
|
In a conference call today, Rep. Eric Cantor (R-VA07), under consideration to be McCain’s vice presidential pick, laid out the case as to why Obama’s newly released energy plan is not in the best interests of the country:
Rep. Eric Cantor: “I believe that what we will see today is Barack Obama attempting to paint a picture of an energy plan that frankly is not based on developing more American energy supply. I believe that anyone who says that we can achieve energy independence in this country without that, without more nuclear power, without more offshore drilling, without more clean coal, doesn’t have the experience to understand the problem we are faced with or isn’t being straightforward to the American people.”
Here is Obama’s energy plan.
[...] seems that Paris Hilton and offshore drilling are the two hot topics this week on the presidential campaign. Am I the only one who sees a sick [...]
Please explain to me why providing $4,000,000,000 in tax credits to an industry that is making money faster than any other sector of the economy makes sense?
Anyone else starting to feel like we are just puppets in a scheme to enrich a select few? Of course if you want to keep paying your petro-taxes to enrich a few Republican elites courtesy of American tax credits (and oil from federal land), please feel free…
Ragnar, tone down the rhetoric a touch, will you. Please.
I swear, your zealotry is a bit over the top sometimes.
Check this out. It’s a good report of how the oil industry compares to others and explains why windfall taxes failed the last time they were tried.
Now that’s not an argument against them! Just one which demonstrates that if they are imposed again, Congress better write the law in a way that actually works.
Also, before going nuts on this…what will such an act do to these domestic companies’ ability to compete with foreign sources?
Regarding the $4B your citing, that is, indeed, what a 10% cut in the corporate income tax would give the five largest oil companies who are currently paying 35% in taxes. However, the cut applies to all corporations, which include movie studios, Microsoft, and even tire gauge manufacturers.
JR - Do you even read the stuff you/ others write on this site? Just b/c you have a subjective perspective does not make the opinions presented by the BD authors any less indignant or zealous.
PS - My understanding is that Obama is not talking about a windfall profits tax, but only cutting the government tax credits (subsidies) to the oil industry. Which if McCain wasn’t recieving campaign money from interested parties, he would probably agree with.
PSS - the tire gauge bit WOULD work - even the Bush DOT has estimated that properly inflated tires would save 3x as much oil as can be produced via additional off-shore drilling.
Ragnar, do you read the stuff you write?
“Obama told a town-hall meeting the rebate would be financed with a windfall profits tax on the oil industry.”
http://www.nydailynews.com/news/politics/2008/08/01/2008-08-01_obama_proposes_1000_rebates_to_offset_so.html
So much for your “understanding”
Ragnar,
Then why do you continue to grace us with your presence?
What have I written that’s indignant? I’m just curious. Of the thousands of posts I have put on this site, I am sure you’ll find one or two. But I’ll let the body of my work and comments speak for themselves.
Also, when did anyone on this site say proper tire pressure wouldn’t help?
I seem to recall my position being one which advocates any and all solutions — more nuclear power plants, more wind farms, more solar panels, improved battery technology, more hybrid cars, clean burning coal, offshore and ANWR drilling, and, yes, I’ll even support advocating proper tire pressure.
As for the donations…McCain received 1.3 million from folks in the oil industry and Obama about 400K. Certainly an advantage, but only about 0.9 cents per $100 donated for McCain and 0.1 cents per $100 donated for Obama. This according to the Center for Responsive Politics as reported by FactCheck.org. Seeing how Obama has decided to not accept public money — another evolving position — I am sure we can cherry pick industries where he has outraised McCain.
JR - “The Communist Manifesto”, etc. More to the point indignation requires a subjective interpretation.
“…even tire gauge manufacturers.”
Indeed, I do grace BD. Though, I didn’t realize that the site had become so incestuous as to desire the eliminatation of all voices of disagreement. Or, at least righteous disagreement…
PS - my response was in response to your FIRST responsive post, which if you recall was much stronger than the modified version currently gracing the area between mine.
PSS - read what I wrote in the first post, then consider the Administration’s “energy plan”, who participated in the creation of that plan, and who got rich in the past 7 years, and who lost out. (and the damage caused to our nation’s overall economic health - and the jobs lost - by that plan). I think if you honestly assess why we are where we are today - in a crisis (which is the only time anyone in this nation notices a problem) and why we are where we are, and who the leaders were who brought us here, you may reach the correct conclusion that my indignation is not rhetoric, but on this yes, I am indignant.
Whatever.
Oh, and you were wrong about windfall profits taxes, Ragnar.
After I show you how wrong you are, I can almost guarantee seeing a multi-paragraph smokescreen response from you - and not a word of it admitting you’re wrong.
JR - you are obviously speechless at my eloquence.
BK - whatever.