iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,441 Blog Posts

Obama Intends to Expedite the Destruction of American Oil with $10 Tax Levy

He came, he saw and he conquered all of the fossil fuels. Under his tutelage, President Obama has overseen the destruction of the coal, natural gas and now oil industries. He refers to oil as “dirty fuels”, almost evil in the methods by which they heat our homes.

The real story here isn’t the fact that Obama wants a solar panel on every housing tenement in America; but the fact that he doesn’t want to let the housing tenement renter enjoy these lower  gasoline prices. He intends to tax everyone, with an outrageous $10 per barrel levy–which will fund more bridges to nowhere and 30 year highway jobs to union controlled contractors.

In the last year of his presidency, Obama has said the country must stop subsidizing the “dirty” fossil fuels of the past and focus on clean, renewable fuels that do not exacerbate climate change.

“By placing a fee on oil, the President’s plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in clean energy technologies that will power our future,” the White House said in a statement.

The long-shot proposal for the oil fee, set to be announced in Obama’s fiscal 2017 budget plan on Tuesday, would provide nearly $20 billion a year to help expand transit systems across the country and more than $2 billion a year to support research and development of self-driving vehicles and other low-carbon technologies.

With approximately $900 billion in distressed oil and gas debt, this tax is equal to rubbing salt into the wounds of someone who was just fatally shot in the head.

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17 comments

  1. lesurgeon

    The faster this faggot is out of office the better.

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  2. skulduggery

    How again did this silly narcissistic con man become President, twice?

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  3. frog2

    salt? more like muriatic acid

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  4. hftongue

    Oil is around $30/barrel and he wants a $10 charge, 1/3 of the price? LOL Yeah. He’s treating oil like it’s a health threat – similar to cigarettes and tobacco.

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  5. riotact

    Half of you idiots were predicting $8 gas per gallon when Obama was elected. Get over yourselves.

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  6. riotact

    A large percentage of bridges are in desperate need of repair. How do you propose that money comes from? And anything that is pro solar, aka saving the fucking planet is a good thing.

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  7. vandamme

    Americans should pay a gas tax.

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    • NON Solo

      We have a gas tax. That’s where the funds come from to repair our streets, bridges, etc. However, the fund is dry. Our infrastructure is a mess. That’s what happens when you’re paying interest on $19T of debt, there is very little money left.

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      • frog

        Actually, that isn’t what has to happen. Congress puts the U.S. deeper and deeper into debt all the time, by getting into pointless wars, cutting taxes on the .01% etc. It’s only when money is needed to repair our streets, or something else that benefits the middle class rather than just the military industrial complex or the .01%, that we supposedly don’t have enough money

        These folks here have an economic theory that says debts don’t matter.

        http://neweconomicperspectives.org/

        Reagan also believed that deficits don’t matter, as did Cheney. Apparently, Congress must also believe that theory, because Congress members of either party never hesitate to get us deeper into debt. The 2 parties only disagree on WHAT they are spending money on, not WEATHER to spend it– despite rhetoric to the contrary by one of them.

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    • gapfiller

      There are already large gas taxes in place at both the federal and state levels.

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  8. sia

    Love it!

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  9. the dude

    Irrelevant since it is a nonstarter in Congress.

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  10. wordpoop

    It’s going to be 86 fucking degrees in Southern California in the next week. Could be time to think about doing something different.

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