With Big Oil raking $36 billion in profits, on March 1, 2011, Rep. William Keating (D-MA) offered a motion on the House floor, saying, “let’s stop sending taxpayer’s money to the most profitable companies in the world,”
If passed, tens of billions of dollars would be saved over the next ten years, something even John Hofmeister (ex-Shell CEO) agreed with “…with high oil prices, such subsidies are not necessary,” according to The Gavel.
What Keating was talking about was putting an end to taxpayer-funded subsidies to large oil companies. However, the GOP voted unanimously against the motion with a vote of 176-249, voting it down.
“Drill only” bills by the GOP
Karina of the Gavel Blog writes that a series of GOP “drill only” bills have been brought to the House floor, offering zero relief for taxpayers or consumers but are a big gift with a red bow to Big Oil.
An example is when the GOP voted unanimously against the Federal Price Gouging Prevention Act on March 9, 2011. If this bill had passed, it would have been illegal to sell gas at high prices and would prevent Big Oil from price gouging, prevent them from taking advantage of consumers.
She also wrote that the GOP had voted against a bill that would pay American taxpayers and their families for their leases in the drilling bill, if oil were taken from their land. The GOP voted this bill down on May 5, 2011.
“On this first day of March, oil prices came in like a lion, but when it comes to taking away oil company tax breaks and cutting the federal deficit, Republicans act like docile lambs. Today a grand total of zero Republicans were brave enough to say the biggest oil companies don’t need 100 year-old tax breaks to sell $100 per barrel oil to make more than $100 billion per year in profits.” (Democratic Leader)
Big Oil and Congress
Big Oil lobbying money controls Congress. In the Daily Kos, the 2010 U.S. budget showed that Democrats received $4,881,408 from Big Oil while the GOP received $14,258,340 dollars. (A Record That Speaks For Itself: GOP Votes To Support Big Oil 7 Times This Congress)
Karina also wrote that as of May 10, 2011, the GOP had voted seven times against ending billions in tax breaks to Big Oil in order to provide relief to American taxpayers and its citizens.
Yet….now CNN says that Big Oil is promising more jobs IF it can expand drilling projects in the United States. A pitch to desperate people without jobs…Big Oil now says it can “deliver 1.4 million new jobs, boost tax rolls by $800 billion, and increase domestic energy production almost 50%.”
But first, the American people should allow Big Oil to drill off the East and West Coasts, in the waters off Florida’s Gulf Coast, in Alaska’s Arctic National Wildlife Refuge, and on most federal public land that is not a national park.
Decades ago, things were different. America preferred to leave their oil underground while producing only limited amounts.
Middle Eastern oil
According to Pat Shannon, Henry Kissinger had talked Middle Eastern oil-rich nations into selling oil to the United States, making them very wealthy. In return, the rich oil sheiks would buy U.S. debt with portions of their oil/sales income. The United States also agreed to leave their oil underground. But since then, things have changed.
Shannon reports that the so-called elite are planning to renege on the oil deal, which is why Big Oil needs not only U.S. drilling rights on American soil but lots of American labor...jobs that most Americans without jobs cannot afford to refuse. Hence, the CNN article with Big Oil promising more jobs to struggling American people, if it can expand drilling rights.
By the end of the year, it is planned that oil prices will rise from $150 to $200 dollars a barrel. At that time, the United States will stop buying oil from the Middle East…and begin extracting it on the U.S. homefront.
According to Shannon’s article, he says the areas that are being targeted for oil extraction are the same ones that CNN reports what Big Oil needs to supply massive jobs for the American people.
• Gull Island in Alaska’s Prudhoe Bay
• Arctic National Wildlife Refuge in Alaska
• Bakken formation from North Dakota to Canada
• Shale oil beneath the Rocky Mountains
Stories to the American people
Most of the American people will believe Big Oil, as they will not be “paying the Arab oil czars”for high-priced gas. They will be told that lower gas prices at the pump will now occur, which the financially strapped American people need to believe. But that will never happen, as eventually Big Oil still plans on harvesting huge profits…larger than before. Just not from the czars they think.