In a speech in Lansing, Michigan today, Sen. Barack Obama said, "For the sake of our economy, our security, and the future of our planet, we must end the age of oil in our time." Michigan is in a recession, but he speaks before the Michigan Democrat politicians who got them into recession. And they applauded!
Just what does he think the U.S. economic engine runs on? This would normally be considered another Obama idiotic platitude, but he is the presumptive Democratic nominee. Is he trying to make the United States a third-rate power?
Obama says that if we drilled offshore and in ANWR, we would not see the oil for seven years from now. If that is the case (and many oil experts are dubious about this), it is a lot sooner than the so-called "alternative sources of energy" the Democrats been clamoring for. Those are decades away!
Obama also wants to tap into the Stategic Oil Reserves. The reserves were set aside for national emergencies. High gasoline prices hardly qualify as an emergency. This does not even begin to solve the problem.
Again, he complains that "the U.S. has 3% of the world's oil reserves, but uses 25% of the world's oil." Is the U.S. to be punished for this? He also complains that McCain's energy plan only offers "psychological relief." Obama doesn't even offer that!
Obama calls for a "windfall profits tax." This was last tried by Jimmy Carter and it was a disaster. Obama apparently wasn't old enough to remember that. But he goes even further, he wants those taxes to fund a $1,000 "rebate" to consumers. This is warmed-over McGovernism.
According to the Wall Street Journal:
"In other words, a windfall is nothing more than a profit earned by a business that some politician dislikes. And a tax on that profit is merely a form of politically motivated expropriation."
If such a scheme should become law, it would be stealing from ordinary Americans with 401k plans whose investments include the oil industry.
Obama has never produced a thing in is career. Instead, he has been an obstacle to the produers of this country. Obama's speech is just another example of his idiocy.
When gasoline prices topped $4.00/gallon, Obama was unconcerned over the prices, he was just concerned that they "came too fast."
Voting against Obama isn't coming fast enough.
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