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The 2005 Energy Bill gave $6 billion in subsidies to the oil industry and $12 billion to the nuclear power industry.
John McCain voted against it. Hillary Clinton voted against it.
The Washington Post: " Indeed, the bill contained $6 billion in subsidies to the oil and gas industry and $12 billion to the nuclear power industry ".
Barack Obama voted for it. Barack Obama voted for it. Don't Democrats hate big oil companies and big profits?
Obama anti-oil, anti-nuclear?
Is Obama deceiving the voters he is in charge of?
HillaryClinton.com - Media Release (http://www.hillaryclinton.com/news/release/view/?id=6873 - broken link)
No not at all, he is talking about excess profits and remember no profit no capital for off shore exploration and alernative energy development. What is a necessary topic is at what price will companies find it profitable to drill off shore if allowed. They are private companies and can't be made to.
No not at all, he is talking about excess profits and remember no profit no capital for off shore exploration and alernative energy development. What is a necessary topic is at what price will companies find it profitable to drill off shore if allowed. They are private companies and can't be made to.
Good point TuborgP,
But I have a feeling that Obama voting for subsidies for big oil will rub a lot of environmental and wealth redistribution Democrats the wrong way. I'm not saying that they won't vote for him but, that left wing purists are going to have to eat something foul as they move toward their progressive utopia.
Rockefellers challenge and Jay backs Obama. So how linked is Obama to the Rockefeller family and their feelings on Exxon Mobil and the use their profits for either energy development, stock holder dividends and or capital accumulation which might be stock buy backs which they have done a lot of, cash sitting on and acquisition of other companies including non energy acquisitons etc.
Remember Behavior Finance/Economic scholars believe you can use policy to encourage behavior outcomes that are good for the economy and society. Thus if faced with either doing energy resource development or paying a wind fall tax payment with profits over a certain amount what do you think they will do?
I say that if a state wants to drill off shore, then they should be able to do it. It would reduce dependence on foreign oil and create good paying jobs. Windfall taxes hurt the economy. All Democrats care about is wealth redistribution. They would steal it if they could. Since they can't, they have to create laws to make stealing legal. ( Have you ever heard of Communism? ) The only people stopping America's use of natural resources are Democratic leaders who think that we're going to destroy the world. Every one of those weaklings in Congress bow down to Nancy Pelosi. All she is, is a freak from San Francisco, where weirdos rule. You know, people walking into churches wearing strap-ons. She represents weirdos. Not the rest of America. She didn't get to be Speaker of the House through accomplishment either. Longevity only. The American people want something other than what she has to offer.
Back to Obama. He voted, three years ago, to grant $6 billion in subsidies to the oil industry and $12 billion to the nuclear power industry. McCain voted against it.
Obama can down play this - his supporters will forgive him in a heart beat. Because he's different now. Obama can do no wrong.
Without capital there are no resources to develop alternatives with. This is not the Dot Tech boom where investors are just loaded with capital to invest. This is an economy on the verge of a disaster that is dependent on foreign investment. Do you really want the Russian, Iranian, and Chavez inc investing in energy development here? The trick is to influence energy companies to use the capital they have to develop our energy future.
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