Sep 17 2008
The Pelosi Energy Scam Plan Passed
The Nanci Pelosi bill passed in Congress yesterday. This bill includes drilling on 100 miles off the Pacific and Atlantic Coasts or beyond 50 miles if states approve it, more taxes on oil companies, and force companies to pay about $15 billion for the Gulf of Mexico leases given to them in the 1990s. The bill also allows 10% of the Strategic Petroleum Reserve to the marketplace, which is suppose to be only used for natural disasters or war. Increased funding to the poor is on the bill as well. And if states agree there can be new exploration in the oil shale of the Mountain West.
Unfortunately 85% of known oil is found within the 50 miles of the coasts. So this bill is really just a scam to fool the American people that the Democrat-Controlled Congress wants to do the all the above energy plan. This bill will only raise gas prices. And this bill will not encourage oil companies to drill, if there is no oil to be drilled why would they waste millions of dollars drilling for nothing? The bill will also not allow royalties from leases to be shared with the states, therefore states will not have any incentive to allow drilling under the 50 miles from shore. The Republicans could not put in any amendments.
The bill still has to pass with 60 votes in the Senate. Fortunately, the Republicans are pushing for expanded drilling and 
nuclear power to be added to the bill and they will push until the election. Congress has to act by September 30th when the ban on drilling will expire.
“We have enough oil and natural gas resources to power 65 million cars for 60 years and heat 60 million households for 160 years,” but Congress will not let us use gasoline while we search for ways to let every single person be able to afford an alternative energy automobile(api.org).
And I have said it in a past post, but I’ll say it again, because so many people seem to think that taxing “Big Oil” companies is a good idea. Taxing “Big Oil” companies is really taxing You! “Only 1.5 percent of industry shares are owned by corporate management. If you have a mutual fund account, and 55 million U.S. households do, there’s a good chance it invests in oil and natural gas stocks. If you have an IRA or personal retirement account, and 45 million U.S. households do, there’s a good chance it invests in energy stocks“(api.org).
So if you want to pay more for gas and food and many other items than continue to NOT support Drilling Now!
Obama wants to continue with Pelosi’s plan. McCain wants to do the all the above energy plan. He wants to drill now and search for alternative energy fuels. Palin, the one with the most energy experience of all the candidates, wants to “crush the gridlock” of the do nothing Senate and Congress.(foxnews.com). We need the extra 50 years of American oil supply while we search for an alternative energy car that everybody can afford. And we cannot let the Democrat-Controlled Congress and Obama keeps us in danger, by keeping us on foreign oil.
And what scandal-ridden agency determined that the majority of the oil was within 3-50 miles from shore? Just askin’.
When you tax agencies with record surpluses and profit margins and pass that savings along to the public, you know, like Sarah Palin did in Alaska, how does that negatively affect the consumer?
In response to threedegrees -
Have you ever noticed that when minimum wage goes up, costs on pretty much everything else goes up, too? Have you ever stopped to wonder why that is?
See, businesses like to make a profit. Anytime something negatively impacts their bottom line, such as an increase in minimum wage or taxes, they raise prices accordingly.
Companies that deal with shareholders, like the energy companies do, have to answer to their shareholders whenever their dividends decrease. A decrease in dividends can also lead to a decrease in the value of their stock. Lower stock values mean the company is worth less than it was before.
If the US government passes a bill to increase taxes on oil companies, the oil companies will increase the cost of gas in order to cover their additional expenses, maintain their profits to keep shareholders happy, keep up the value of their stock, and ultimately to ensure the increased value of their company.
*demyelinatednotdestroyed.today.com*
So, what you’re saying is that Sarah Palin was wrong by giving back to her taxpayers the money that she “wrangled” from Big Oil?
And doesn’t increasing the minimum wage mean the general standard of living increases as well? Forgive me, for you seem to think that I don’t understand that companies want a profit, but it seems rational in my tiny brain that as prices exponentially increase, the average net worth of the consumer should increase in an accordant rate so that they can afford said commodity. Otherwise you have billions in lost revenue from the previous years. Oh, wait, never mind. Well, at least we the people own 80% of AIG and Fannie and Freddie, and Sterns, or we’d be screwed.
It’s not that I don’t appreciate your condescending tone, but reality doesn’t reflect your previous beliefs. Your own candidate can’t control his flip-flops on his position regarding the economy, and even your own party, those who are actual conservatives rather than social or cultural conservatives, have laughed in his face. I mean, dance with the one what brung ya, but wow.
After our president put a $314 billion tax burden on all of us, it will be impossible for any new president NOT to raise some taxes. If you can’t see that, you shouldn’t be allowed to type.
Oh, that’s an additional $314 billion in the bail-outs of Bear Sterns, F n’ F, and AIG.