Tag: oil

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Crude Oil Drops Below $50 A Barrel, Lowest Since 2009

About two years ago Republicans “blamed” President Obama for high gas prices.

With the price of gas below $2 in some states, I’m wondering does he now get “credit” for the lower prices?

In truth, at the time I shared that Presidents have very little influence on gas prices. And that remains to be true.

The overwhelming issues that affect price is gas productivity around the world and, of course, demand.

The US is currently producing and exporting more oil than ever. And yet, critics still claim Obama is “bad for business.”

With gas prices this low, and the stock market doubled, isn’t it hard to say Obama is “bad for business?”

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What Success Looks Like

This is what a successful presidency looks like:

• Our dependence on foreign oil is at a 20-year low — and declining
• Emissions have fallen to their lowest levels in 20 years
• Domestic auto production is at a 12-year high
• Health insurance costs are increasing at the slowest rate since the 1960s

Does anyone have a problem with any of that?

I didn’t think so…

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Palin calls $4 Billion in oil subsidies “drop in the bucket”

For all the budget hawks out there: the former half-term governor of Alaska, Sarah Palin, says that the $4 billion dollars the US government gives oil companies every year while reporting record earnings are “a drop in the bucket” in terms of balancing the budget. To be specific, that’s $4 billion A YEAR. Over the next ten years, that’s at least $40 billion. And she seems to be saying since it’s a “drop in the bucket” we shouldn’t bother eliminating these subsidies.

Mind you this is much, much more than the $430 million in proposed cuts to PBS which actually helps inform and educate Americans young and old.

I know I’d much rather see these subsidies ended and the money used to develop new, more efficient, renewable energy than to keep pouring money into old technologies that are getting us no where. It’s time to look forward, not stay stuck in the past.

I’m not sure I understand why the US government would want to balance the budget by turning Medicare – which Americans have paid into their whole lives – into a voucher system that will never cover the costs of elderly health care and cost seniors thousands, while continuing to GIVE AWAY billions to oil companies who are making more money than ever.