Thursday, March 05, 2009

Treasury Secretary a Global Warming Acolyte

The one common thread all of the appointees the President In Training Pants have is they are global warming acolytes. From Steven Chu, the Energy Secretary, to his EPA chief, Lisa Jackson, and now even the Treasury Secretary.
U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday.
The absolute refusal of any of the liberals in congress and all of the inner circle of Obama advisers to allow us to pursue and process a natural resource we have at our fingertips to fuel our energy needs until any of these alternative energy sources become viable or sustainable is just plain nuts.

The Treasury Secretary coming out and saying he is against any incentives for oil and gas companies while the EPA chief is vigorously pursuing having CO2 declared a greenhouse gas in her efforts to shut down coal power plants like the new Health and Human Services Secretary, Kathleen Seblius did while governor of Kansas to Steven Chu who has reservations about nuclear power due to concerns about managing the waste material, his whole inner circle is working very hard to cripple this country.

Jobs and health care won't mean much if you don't have the power to light the workplace or handle all of the high tech medical equipment in hospitals to treat the sick.

This is just unbelievable and if I have said it once I am going to say it for the hundredth time, this administration is going to use its slavish devotion to the cult of global warming to wreck this economy, beyond the stage at which it may be possible to recover.

For all you folks all excited and jumping for joy at that $13 you are getting back in your paychecks, try this on for size.
The Obama administration's budget would levy an excise tax on oil and natural gas produced in the Gulf of Mexico, raising $5.3 billion in revenue from 2011 to 2019.

This new 13 percent tax on all oil and gas production in the Gulf would only affect those companies enjoying a loophole that allows them to avoid paying royalties on the energy supplies they drill. Companies already paying royalties would get a tax credit.

Obama's budget would also place a $4 per acre annual fee on energy leases in the Gulf that are designated as nonproducing. The budget proposal projects the fee would generate $1.2 billion from 2010 to 2019.
Those fees and taxes will be passed right on to the consumer who uses gas in their car or natural gas to heat their home.

The government giveth and the government taketh away. And taketh. And taketh.

For a real eye opener read this speech given by Todd Stern, Special Envoy for Climate Change from the State Department.

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