Obama solution to High Gas Price, Raise taxes to Oil Companies

Obama understand we are reliving 2008 and the high gas prices. What does he do? Obama raise the tax on big bad oil companies. This will have no effect to the price of gas. It only raises tax revenues. These oil companies will only pass on the cost to us at the gas pumps. Therefore, we are getting shafted with the bill. Whenever the government taxes on a company, those taxes are added to the price of the product they sell. Corporations don't pay taxes. That is the honest truth. The logical truth is to DRILL BABY DRILL. That will end the speculation in the oil market. Bush did that in 2008.

(Yahoo) WASHINGTON (AP) -- Amid rising gasoline prices at the pump, President Barack Obama urged congressional leaders Tuesday to take steps to repeal oil industry tax breaks, reiterating a call he made in his 2012 budget proposal earlier this year. The White House conceded his plan would do nothing in the short term to lower gas prices.
Rising gas prices have become a political weight for the White House, with polls showing that as the cost rises at the pump, the president's approval ratings have slipped. Obama has increasingly sought to display action on oil, even as he acknowledges that there is no immediate answer to stem costs.

"High oil and gasoline prices are weighing on the minds and pocketbooks of every American family," Obama wrote. But he also added that "there is no silver bullet to address rising gas prices in the short term."

Obama's proposal, spelled out in his past two budget plans, would eliminate a number of tax breaks for oil companies that would generate an estimated $4 billion a year in additional revenue.

Obama First Blames Libya for the High Oil Prices But Now It is the Oil Companies

It is obvious that Obama want the tax revenues from gas to pay for Obamacare.......

(Investors Business Daily) In his Friday press conference to discuss gas prices, President Obama was rather defensive, straining to counter the notion that his administration has been unfriendly to oil drilling, something most people would like to see a lot more of these days.

Where do people get that notion? Perhaps his Interior Department appealing a judge’s ruling that it act onseveral pending deepwater permits had something to with it.

Obama claimed repeatedly that he is not against drilling, then made the following comments:

There is more we can do, however. For example, right now, the (oil) industry holds leases on tens of millions of acres — both offshore and on land — where they aren’t producing a thing. So I’ve directed the Interior Department to determine just how many of these leases are going undeveloped and report back to me within two weeks so that we can encourage companies to develop the leases they hold and produce American energy. People deserve to know that the energy they depend on is being developed in a timely manner.

In other words, Obama is arguing that the oil companies themselves may be to blame for the fact that there isn’t more drilling. For some reason they’re ignoring making a profit. It’s a bizarro-world inversion of the usual complaint against oil companies — that they are reckless and all-too eager to despoil pristine lands in search of black gold.