Thursday, February 03, 2011

Gasoline prices keep going up--and Obama finds a new arch villain

Gas station in Morton Grove, IL,
February 3, 2011
Have you checked the price of gasoline lately?

President Obama wants to eliminate what he is calling tax breaks for oil and oil companies, these include the Section 199 and dual capacity tax credits. Section 199 rewards companies for hiring workers, is available to all corporations--not just energy firms. And all U.S. corporations can benefit from the dual capacity credit--it prevents double taxation on income earned outside the country.

Echoing what he said during last week's State of the Union address, Obama declared in a speech this afternoon at Penn State University that oil and gas firms "are doing just fine on their own." It appears he has found a new arch villain; insurance companies and bankers can move to the back of the line. "It's time to stop subsidizing yesterday's energy," he added. "It's time to start investing in the future. That's what progress is."

Obama's "tomorrow's energy" is unproven green initiatives that failed in Spain.

On my way home from work tonight--in my car using what Obama calls "yesterday's energy," I drove past a gas station in Morton Grove selling regular at $3.49 a gallon.

Does Obama care about the price of gasoline?

And I'm fed up with Obama seeking out villains.

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3 comments:

  1. Paul Mitchell10:29 PM

    I bought gas today for the first time in a while. It was 3.199 a gallon. The last time I actually remember a price I paid was coming home from the Christmas holiday and I paid 2.129. Quite a difference, but Mississippi is always cheaper than Kentucky.

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  2. Greybeard11:52 PM

    And KY is cheaper than TN or IL, Paul. I paid $3.149 to fill my work car yesterday, but paid $2.999 at a station 15 miles away three days ago while driving the family truckster.
    One thing is sure...
    It ain't goin' down for a while.

    ReplyDelete
  3. Paul Mitchell11:13 AM

    I spoke to soon yesterday. I had to gas up the truck today and it was 3.319. It went up twelve cents in ONE DAY!

    ReplyDelete