I don't think he is so much uninformed as pandering to his base with the standard "demonize the wealthy", in order to continue his assault on the economy.
U.S. Congressman Dan Boren issued the following statement regarding President Obama's letter today requesting Congressional leaders eliminate tax provisions that are absolutely critical for domestic oil and gas production for thousands of independent producers across the nation.
"President Obama is completely uninformed about the oil and gas industry. The industry is not made up of just major companies. It is made up of small independent firms like those in Oklahoma that produce a vast majority of our domestic production. For every CEO of a major company, there are literally thousands of blue collar jobs that are affected by his administration's energy policy. It is a policy that is very inadequate and has left so many on the gulf coast unemployed. Americans are tired of empty rhetoric on both sides and want a real plan. If the President doesn't want to stand up and be a leader, then his silence would be appreciated from people who are trying to find solutions."
Specifically, the Administration is seeking to repeal the "percentage depletion" and "intangible drilling costs (IDCs)" tax incentives. The removal of these provisions would negatively affect domestic independents who utilize them to attract the capital necessary to drill new oil and gas wells inside the United States. It is estimated that eliminating percentage depletion and IDCs for domestic independents would reduce U.S. drilling by 30-40 percent, thereby increasing the nation's dependence energy from foreign sources. Furthermore, the major oil companies are barred by law from receiving percentage depletion altogether, as it only is given to domestic independent producers. The IDC preference is only available for domestic drilling activity, and as the major oil companies drill primarily outside the U.S., the domestic independent sector of the industry will yet again bear the brunt of losing this critical provision.
Answer by QuinnMae at 5:15 PM on Apr. 29, 2011
I don't think he is so much uninformed as pandering to his base with the standard "demonize the wealthy", in order to continue his assault on the economy. LOL BO is a member of this goup.
Americans are tired of empty rhetoric on both sides and want a real plan.
DING, DING, DING.....now get together and fix it!
Answer by Sisteract at 5:56 PM on Apr. 29, 2011
Answer by agentwanda at 6:54 PM on Apr. 29, 2011
Answer by DSamuels at 7:11 PM on Apr. 29, 2011
Answer by emilysmom1966 at 8:24 PM on Apr. 29, 2011
Check out the 10 countries with the lowest gas prices. Pay attention to whether they drill and refine their own oil. Yeah, PBO is either uniformed or just really wants our country to fail. I hope he is just uniformed. Nah, how could he be? Don't those czars we are paying for advise him on anything?
Answer by jesse123456 at 8:42 PM on Apr. 29, 2011
Answer by itsmesteph11 at 9:43 PM on Apr. 29, 2011
, we pay for his free ride... Free Ride- I wouldn't take that free ride- 450,000 is peanuts for that 24/7 craptastic job- Most people would be physically writhing on the floor after about a month of that schedule-
They don't age like that, seemingly over night because they are getting their rest, relaxing and enjoying the free ride-
Many people work hard, but I do not believe the POTUS is skating through life-
Answer by Sisteract at 12:59 AM on Apr. 30, 2011
Answer by adnilm at 7:09 AM on Apr. 30, 2011