US Big Oil is undermining the US Presidency with the power of the check-book at a time the US President is trying to undermine the economy of Iran in his effort to derail their nuclear threat to the World.
THE NEW YORK TIMES EDITORIAL – March 31, 2012
Big Oil’s Bogus Campaign.
Related News - Obama Repeats Call to End Oil Subsidies (March 29, 2012)
OUR COMMENT – We keep on repeating – We told you so a long time ago, US Internal Policy and Foreign Policy is all about willfully keeping the folks dependent on oil. The recent US wars are about oil. The World believes correctly that the only US interest in the World is in its OIL! We keep asking WHY? This article gives us one answer, others wrap the answer in more colorful layers of misleading thinking. I mentioned casually yesterday to a high-placed lady that since the Roosevelt – Stalin – Churchill meeting at Yalta — that organized the World after WWII — the only US Foreign Policy interest was oil, and I landed clearly on her list of contempt. She still proposes seemingly that US recent wars were about spreading democracy.
President Obama and the Senate Democrats have again fallen short in their quest to eliminate billions of dollars in unnecessary tax breaks for an oil industry that is rolling in enormous profits. A big reason for that failure is that some of those profits are being continuously recycled to win the support of pliable legislators, underwrite misleading advertising campaigns and advance an energy policy defined solely by more oil and gas production.
Despite pleading by Mr. Obama, the Senate on Thursday could not produce the 60 votes necessary to pass a bill eliminating $2.5 billion a year of these subsidies. This is a minuscule amount for an industry whose top three companies in the United States alone earned more than $80 billion in profits last year. Nevertheless, in the days leading up to the vote, the American Petroleum Institute spent several million dollars on an ad campaign calling the bill “another bad idea from Washington — higher taxes that could lead to higher prices.”
Studies by the Congressional Research Service, among others, say that ending these tax breaks would increase prices by a penny or two a gallon. Yet all but two Senate Republicans have been conditioned by years of industry largess to accept its propaganda. In the last year, the industry spent more than $146 million lobbying Congress. In Thursday’s vote, senators who voted to preserve the tax breaks received more than four times as much as those who voted against.
Money has always talked in Congress. Now industry allies are aiming at voters. The American Energy Alliance, a Washington-based group that does not disclose its financial sources, on Thursday began an ad campaign in eight states with competitive Congressional races.
Voters in Michigan, Virginia, Florida, Ohio, Iowa, Nevada, New Mexico and Colorado will hear a 30-second spot peddling the industry’s misleading arguments against the Obama administration’s energy policies — including the fiction that those policies have led to higher gas prices: “Since Obama became president,” it says in part, “gas prices have nearly doubled. Obama opposed exploring for energy in Alaska. He gave millions of dollars to Solyndra, which then went bankrupt. And he blocked the Keystone pipeline, so we will all pay more at the pump.”
Four sentences, four misrepresentations. Gas prices, tied to the world market, would have gone up no matter who was president. Mr. Obama has not ruled out further leasing in Alaskan waters. Solyndra, a solar panel maker, is the only big failure in a broader program aimed at encouraging nascent energy technologies. The Keystone XL oil pipeline has nothing to do with gas prices now and, even if built, would have only a marginal effect.
The message war has really just begun. The oil industry has the money, but Mr. Obama has a formidable megaphone. He must continue to use it.
LET US REMEMBER SHEIK YAMANI – THE SAUDI EX-OIL MINISTER – he said:
THE STONE AGE DID NOT END BECAUSE OF LACK OF STONES – THE OIL AGE WILL NOT END BECAUSE OF LACK OF OIL!
We will do better by recognizing the ways we promote the use of oil – allow full costing of oil by taking away subsidies and other favors to the oil industry, and then observe the miracle that alternatives to oil are already here and they need no subsidies if the stage is cleared of the inequities that favor the oil industry. Aha! we will then not need imports of oil and will be allowed to lose interest in continuing misadventures in Asia, Africa, Latin America, and we will be able to talk to the people there as equals and not as enforcers of oil-buying missions.
We will also be free to look out for the interests of our descendants and promote policies of sustainability in favor of FUTURE GENERATIONS. We will be able to preserve the land for Future Generations and stop plundering and turning it into wastelands. Our only true source of energy is the sun and there is no acceptable reason for our living by other means.
The corollary to the above is that our legislators will then not be fed from greasy check books of the oil lobby, though in all honesty we are not naive to believe that no other lobbies will move in and take the place of oil. We hope nevertheless that these new political finance powers will have less of a stranglehold on the legislators.
Also from today’s news:
WASHINGTON — After careful analysis of oil prices and months of negotiations, President Obama on Friday determined that there was sufficient oil in world markets to allow countries to significantly reduce their Iranian imports, clearing the way for Washington to impose severe new sanctions intended to slash Iran’s oil revenue and press Tehran to abandon its nuclear ambitions.
For the full article please:
Obama Finds Oil in Markets Is Sufficient to Sideline Iran
By ANNIE LOWREY, The New York Times, March 31, 2012
President Obama’s determination cleared the way for severe new sanctions intended to slash Iran’s oil revenue and press Tehran to abandon its nuclear ambitions.