The suggestions in the report were emphatically missing from Obama's impassioned call. Instead he hammered on eliminating tax "loopholes" for oil companies. Obama's continual reference to a $4B "loophole" elimination for the entire oil industry is an outright deception. Exxon-Mobile ALONE pays more than $100B per year in taxes. The $4B "loophole" is for R&D to improve on extraction methods and reduce polution through cleaner and more efficient processing. Improvement in these processes are needed for the long-term well being of America.Obama is once again misleading the ignorant and uneducated in America.
Repealing regulations on the oil and gas industry, the report states, could create 1.4 million jobs over the next seven years and over $800 billion in revenue over the next 20. Undoing this administration's new regulations, the report claims, would increase the nation's oil and natural gas production by 10 million barrels by 2030. Further, the report recommends opening up the Eastern Gulf of Mexico for oil-drilling. In the wake of the BP oil spill last year, the Obama administration reversed its stance on offshore drilling and declared a moratorium on any drilling along the nation's East Coast. Are these actions making the USA more independent of Arab oil? Any sane person can see they are counterproductive and costly to America.
"SECRET!" Did Obama write this?
I noticed most comments are for drilling here. I guess people need the jobs.
Energy industry has been a culprit for over a decade, the economy of many countries is directly affected by the price of oil at the pump and beyond. The by products alone are a major impact to many every day items used (plastics,preservatives, construction material,etc). When we look at the major impact that this product has on everyday income it is staggering. Now take into effect the cost that the US and foreign subsidiaries are absorbing in the Middle East Wars and wake up to a general budget that has exceeded credit limits in astronomical proportion and a disastorus domestic growth. The energy company has taken advantage of every aspect of every countries internal economic woes, always promising to boost the economy but in reality only boosting the firms profitablity by billions while strengthening the stronghold for energy dependence.
PIPELINE SOUNDS LIKE A WINNER TO ME. JOBS, TAXES,A LOT LESS FOREIGN OIL--WHY ARE LIBS ALWAYS AGAINST EVEYTHING THAT MAKES COMMON SNESE. GO TEA PARTY..
I don't know why I bother to comment. Because the people that I'll be trying to expose to some truth, will refuse to listen anyways. No matter how much we oil and gas we extract from our country, will do nothing to reduce the price or foriegn dependence on the final product. The crude once removed is not U.S. oil anymore, it belongs to multinational conglomerates. It is essentially put in one large pool, and distributed to whomever will pay the highest price. These corporations have no concern for Americans, or reducing our "need" for oil from "questionable" countries. They have obligations to pay these countries for their rights to drill. In most cases, for a much higher price than they do in the U.S.. These profits for the most part, go to foreign interests. It may look like an "American" name at the pump, but it is not. Granted, some jobs will be created by the creation of a new pipeline, but not as many as the industry claims. And of those created, how many will be filled by foriegners. Quite a few. Please stop believing the hype and misinformation from the bought and paid for politicians, lobbyists, and media ******. Please stop letting these devils polluteyour minds. Use your brain, it is why God gave it to you.
Have you thought about changing your name from Handsome to Stupid? There is no Pooling of oil...that produced here stays here.
Actually you're the stupid one because that's not true at all. We export 1.6 million barrels a day and then import 13 million barrels. We export 9% of our refining capacity which is 17.3 million barrels a day. Even if we stopped exporting and even if we drilled for more oil we would still be dependent on foreign oil by at least 3 million barrels a day based on the figures provided by this article not taking into consideration a growing population.
The energy situation alone demonstrates that Obama is not competent to be president of the USA. He's making us dependant on foreign oil. We are sending billlions of dollarfs to countries that hate us and will work against us. .He is making manufcturing in this country more difficult through lack of energy. He is depriving us of jobs, the income from oil and gas production, and reasonable fuel costs. He puts us at a disadvantage with other countries who have no regard for enironmental consequences. He endangers our food spply and raises food prices by endorsing ethanol production. In short he is a toatotal failure and in an earlier time would have been asked to step down from office.
Oil and gas companies are going to drill and money somewhere. More of their profits are made overseas because we are continually make it harder for the to operate here. For example, after Obama stopped drilling in the gulf many rigs were moved to other countries for drilling. Another example is the tar shale oil in Canada. It will be extracted and sent somewhere. People are fighting the building of a pipeline to bring it to the US. This would create American jobs and keep the Taxes here. We have some of the largest coal and natural gas resources in the world and yet we make it difficult for companies to get to it, create jobs and generate taxes. By the way libs. out there do not respond with the lie that Exxon paid no taxes. They did not pay federal taxes partially because of overpayments in previous years and because much of their earnings were already taxed in other countries. They DID pay 7.7 billion in state taxes, sales taxes and duty taxes in America!
I am so sick of the Presidential Jack Ass thinking of ways for small businesses to hire more people.Helloooooo Stoopid (yes! with 2 o's). How the hell can a business hire more people until they get more business to warrant hiring? Bring our industrial manufacturing base back to the USA! Give the blue-collar working people jobs!
I would start by casting your blame on the MultiNational Corps that run this country, they make more money by sending the manufacturing jobs overseas, so untill they are brought back to the States nothing no matter the intention of our government job growth will stay as it is - declining along with the middle class.
And when they do bring the jobs and factories back to the USA what will provide power for them. Hot air from Washington? Businessmen are not stupid, They are forced to ship manufacturing overseas because of Obama's crazy energy policies. And they know that he cant be trusted to be a friend to industry until he allows the USA to develope its own fossil fuel energy resources.