Obama's Oil Solution: Higher Taxes and Prices

As usual, President Obama's solution for the current series of oil price spikes is...more taxes.

According to Yahoo News:

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.

The president wrote a letter to the bipartisan congressional leadership on Tuesday, a day after Republican House Speaker John Boehner said he was willing to "take a look at" repealing the multibillion-dollar tax subsidies enjoyed by the major oil companies.

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.

Of those subsidies were repealed, just were do you suppose the oil companies will look to in order to make up those lost revenues? In our wallets, of course!

Above, these gas prices would seem cheap if President Obama has his way.

As mentioned before, the current surge in high oil (i.e., gasoline) prices come from the Obama Administration's policies in not allowing new drilling (including his moratorium on no-drilling in the Gulf), the weakness in the U.S. dollar (caused by Obama's and the Democrat-controlled congress of 2009-10) and the tensions in the Middle East.

Boehner is not helping matters any by parroting the Left's "fair share" mantra.

To read the full article, go here.