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Thread: John McCain flip-flops on offshore oil drilling, Barack Obama bitchslaps him for it

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    Elite Member Grimmlok's Avatar
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    Thumbs up John McCain flip-flops on offshore oil drilling, Barack Obama bitchslaps him for it

    Democrat Barack Obama Tuesday accused White House rival John McCain of "posturing" as the Republican, tapping voters' anxiety about sky-high fuel prices, called for offshore oil drilling.
    In a speech later in the Texas oil capital of Houston, the Arizona senator was to call for a 27-year-old moratorium on offshore exploration to be lifted -- reversing his own support for the ban when he ran for president in 2000.

    McCain was again to push for a summer suspension of federal taxes on gasoline, to ease a little of the pain at the pump for voters already reeling from an epidemic of home foreclosures and job losses.

    Obama, who has been hammering McCain and the Republicans on the economy, said his White House opponent's support of the moratorium in 2000 was "certainly laudable."

    "But his decision to completely change his position and tell a group of Houston oil executives exactly what they wanted to hear today was the same Washington politics that has prevented us from achieving energy independence for decades," the Illinois senator said in a statement.

    "Much like his gas tax gimmick that would leave consumers with pennies in savings, opening our coastlines to offshore drilling would take at least a decade to produce any oil at all, and the effect on gasoline prices would be negligible at best since America only has three percent of the world's oil.

    "It's another example of short-term political posturing from Washington, not the long-term leadership we need to solve our dependence on oil."


    Obama is pushing for a "windfall tax" on oil companies' record profits and for federal investment of 150 billion dollars over 10 years in renewable and green energies.

    McCain backs market solutions but scents opportunity in portraying Obama as being out of touch with voters' pocketbook concerns.

    "We have proven oil reserves of at least 21 billion barrels in the United States," he said in excerpts from his Houston speech.

    "But a broad federal moratorium stands in the way of energy exploration and production. And I believe it is time for the federal government to lift these restrictions and to put our own reserves to use," McCain said.

    "People are hurting -- small farmers, truckers and taxi drivers unable to cover their costs, small-business owners struggling to meet payroll, the cost of living rising and the value of paychecks falling."

    The 1981 moratorium prevents states from allowing oil companies to conduct offshore drilling and exploration. Virtually the entire Atlantic and Pacific coastlines are protected, along with sections of the Gulf of Mexico.

    McCain said environmental controls were strong enough to permit safe offshore exploration, although the Republican governors of Florida and California -- both McCain supporters -- dispute this.

    But at the same time, McCain opposes drilling in "pristine" areas such as Alaska's Arctic National Wildlife Refuge, putting him at odds with many in his party.


    With global crude prices in sight of 140 dollars a barrel, US gasoline prices now average more than four dollars a gallon. While still low by European standards, that is a rise of one dollar in just 12 months.

    In a new Washington Post-ABC News poll Tuesday, nearly 80 percent said soaring pump prices were causing them financial hardship, which the Post said was the highest figure in surveys this decade.

    The poll gave Obama a narrow lead of 48 percent to 42 percent over McCain among all voters. The two fared evenly among independent voters but Obama had a 16-point lead as the best candidate for the faltering economy.

    The candidates were virtually tied on which was more trusted to handle Iraq, which Obama intends to visit before the November election. McCain, however, had the edge in international affairs and terrorism.

    McCain lobbied anew to suspend the 18.4 cent federal tax on gasoline and 24.4 cent diesel tax until Labor Day on September 1.

    "Even in tough times for our economy, when folks are struggling to pay for gas and groceries, tax relief just isn't change he can believe in," McCain said, turning Obama's mantra of change against the Democrat.


    Obama ridicules McCain's plan to tap offshore oil
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    Elite Member louiswinthorpe111's Avatar
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    I am totally for the windfall tax. The profits these oil companies have made is disgustingly excessive. And before anyone chimes in about "companies should be able to make as much profit as they can," to some extent, yes this is true. But when the product is something everyone needs to survive, prices gone up 100%+ and record, astronomical profits being made, just smells of corruption to me. It would be like water tripling in price and water municipalities making sudden, historically high profits, people would be screaming. I think it's the same situation here, except oil cos. have money in the pockets of politicians.
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    I have a better idea. How about we spend the $3 Trillion on alternative energy research and development instead of Iraq. Then the Oil States can go whistle. If Reagan hadn't rolled back Carter's initiatives, this country would no longer be dependant on oil. Dont get me started on President Arbusto Oil and VP Haliburton.

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    Elite Member Sweetie's Avatar
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    I think the windfall tax is stupid. Anytime a company gets taxed the consumers are going to have to pay higher prices. It makes no sense.

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    Elite Member Grimmlok's Avatar
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    Oil companies already get massive corporate welfare for no fucking reason, considering how much money they're raking in hand over fist.

    And all this bullshit about "events" making oil go higher.. wtf ever. Didn't have hurricanes 20 years ago? Anytime one appears suddenly oil shoots through the roof. It's all a scam.
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    Elite Member witchcurlgirl's Avatar
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    Yes yes, spend on the research for alternatives. It's a great plan for the future.

    But what do we do in the meantime, as we are years away from widespread use of alternatives.

    As for the windfall tax, it goes to our government, who have shown us over and over how great they are with our money- we would fools not to give them more

    It also worked so well last time we placed a windfall tax on the oil companies. Congress' own research shows it lead to increased dependance on foreign sources. Domestic jobs decreased as well...but hey, so what?

    A corporation will pass extra costs on to consumers, so where do people think the oil companies will make up for the windfall tax from?
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    Elite Member louiswinthorpe111's Avatar
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    Quote Originally Posted by Sweetie View Post
    I think the windfall tax is stupid. Anytime a company gets taxed the consumers are going to have to pay higher prices. It makes no sense.
    As of April 30, 2008, oil co. NET, not gross, NET PROFITS are as follows:

    BP Amoco: 7.6 Billion
    Shell: 9.1 Billion
    Conoco: 4.1 Billion

    This doesn't include Exxon or Chevron. In total, that's 20.8 BILLION dollars from 1Q08!!! It doesn't include anything since March, and we know where the prices have done since then. So, please explain to me how a 5 billion dollar tax would make my prices go up? If it does, then it's price fixing, and that's illegal. The 'higher prices" ploy is a tactic used by big oil so they can keep their big profits. Choose to be spoon-fed and believe it if you choose, but I call bullshit.
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    Elite Member Sweetie's Avatar
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    Quote Originally Posted by Grimmlok View Post
    Oil companies already get massive corporate welfare for no fucking reason, considering how much money they're raking in hand over fist.

    And all this bullshit about "events" making oil go higher.. wtf ever. Didn't have hurricanes 20 years ago? Anytime one appears suddenly oil shoots through the roof. It's all a scam.
    Exactly, that's my point....they are getting break after break right now and raking in the money and gas is sky high. Imagine what they will do when they lose the breaks and have to spend some of their earnings on the tax....they will raise the prise of gas even higher to offset the tax. It's really common sense and it's not a solution.

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    Elite Member Grimmlok's Avatar
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    more drilling will not show any net increase in production for a decade. Why is that hard to grasp.

    Even then, you have no facilities to refine it, so it gets shipped overseas and then bought back and the ridiculously inflated prices.

    in 10 years with all those hundreds of billions we could have the infrastructure in place for renewable energy and the products that use it.
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    Elite Member Grimmlok's Avatar
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    Quote Originally Posted by Sweetie View Post
    Exactly, that's my point....they are getting break after break right now and raking in the money and gas is sky high. Imagine what they will do when they lose the breaks and have to spend some of their earnings on the tax....they will raise the prise of gas even higher to offset the tax. It's really common sense and it's not a solution.
    It's price fixing, period. Their profits are obscene as a result, even with corporate handouts. The handouts are supposed to lower it, but don't actually. That's the scam. Bush is all for those handouts because his family and most of his admin come from oil backgrounds. FUNNY.
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    Elite Member Sweetie's Avatar
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    ^ I know it's price fixing, when you ride down the road and it's $3.85 at one store and $3.99 at the one half a mile away that's very clear.

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    Elite Member Grimmlok's Avatar
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    I say we all show up at their corporate headquarters with torches and pitchforks.
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    Elite Member louiswinthorpe111's Avatar
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    Quote Originally Posted by Sweetie View Post
    Exactly, that's my point....they are getting break after break right now and raking in the money and gas is sky high. Imagine what they will do when they lose the breaks and have to spend some of their earnings on the tax....they will raise the prise of gas even higher to offset the tax. It's really common sense and it's not a solution.
    We must have different common sense.

    According to the US Energy Information Administration, between 1977-2004 all oil companies made a combined net profit of $630 billion, so over a 27 year period, that's $23.33 billion per year for all the oil cos. combined. Now, 3 oil companies made $20.8 billion from 1Q08 alone, not counting the other companies. Maybe it's my common sense, but I don't understand how this is legal.

    And, in response to the windfall tax, from the same source, after the windfall tax was enacted, it kept gas prices affordable between $1.21-$1.37 per gallon for over 15 years until 2003 when it shot up to $1.91 per gallon.
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    Elite Member Sweetie's Avatar
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    Quote Originally Posted by louiswinthorpe111 View Post
    We must have different common sense.

    According to the US Energy Information Administration, between 1977-2004 all oil companies made a combined net profit of $630 billion, so over a 27 year period, that's $23.33 billion per year for all the oil cos. combined. Now, 3 oil companies made $20.8 billion from 1Q08 alone, not counting the other companies. Maybe it's my common sense, but I don't understand how this is legal.

    And, in response to the windfall tax, from the same source, after the windfall tax was enacted, it kept gas prices affordable between $1.21-$1.37 per gallon for over 15 years until 2003 when it shot up to $1.91 per gallon.
    Um, I never said it was legal. If anything I am agreeing with you that they are sticking it to us without having a tax. Do you seriously think after they are taxed they are going to say, "okay, let's be nice and play fair now", NO, they are really going to really sock it to us. That's just my common sense.

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