New Natural Gas Bill to be Introduced in US Senate
Last year, Obama's budget failed 97 to 0 in his own Democrat Senate. This year, Reid isn't even going to bring up Obama's budget for a vote. Obama's budget just more firmly puts the country on a path to a Greece style bankruptcy.
Obama's budget actually reduces the deficit over the next 4 years. It's just that a tax hike on already super rich (who've seen their incomes skyrocket while the rest of us stay stagnet) will never pass with Republican obstruction.
We've got the tea baggers who hate Obama because he wants to raise the capital gains tax from 15% to 20%. In the next sentence, the tea baggers say things like "Where's Reagan when we need him". Yet Reagan raised capital gains from 20% to 28% in 1986.
The tea baggers are the ones responsible for our continued deficits.
There is no entitlement reform in Obama's budget. We can't get the country off the road to fiscal ruin and a Greek style bankruptcy without entitlement reform. If you don't believe me, ask Obama's own bipartisan debt commission (the Simpson-Boyles commission whose recommendations Obama ignored). Ask the CBO who is headed by an Obama appointee if you don't believe me. Ask Geithner; ask Bernanke. Obama is showing zero leadership on this fiscal problem front and just continues to spend the country in to bankruptcy.
Changes in tax policy may or may not help the problem, depending on what the changes are, but in the very best case changes in tax policy can't solve the problem. Entitlement reform has to be part of the equation, such as was proposed by both Simpson-Boyles bipartisan debt commission and Paul Ryan in the Ryan Plan. Obama has no plan to solve our long term fiscal crises; he just continually makes it worse.
Yes, but the fact that there may be an equal credit for NGV cars makes me wonder if Obama might actually make a push for NGV's. I've been thinking he was just giving lip service at the State of the Union for votes from states benefiting from nat gas. And if he gets elected again, he can forget all about it and go back to concentrating on batteries and solar panels.
One thing is for sure: Obama is going to portray himself as the "all of the above" energy President long enough to try to get re-elected, his administration's well documented anti oil and gas production on Federal land stance notwithstanding, and then the fossil fuel haters like Chu and Sheila Jackson will resume their anti fossil fuel agenda with a vengeance in a second term. Where they want to go is clear: These people passed a cap and trade bill in the Pelosi led house in 2009 that hammered natural gas an evil, carbon, fossil fuel polluter, HR 2474. They also continually delay and make it harder to produce oil and gas on Federal lands. Thank god a lot of nat gas is underneath private lands.
A Federal judge in Louisiana ruled that the Obama administration has been "inexcusably, unreasonably, unacceptably and unjustifiably delaying drilling in the Gulf of Mexico."
There is very good reason to believe there is one trillion barrels of oil under public lands in Utah, Colorado and Wyoming. Of course this isn't counted in the meaningless number that Obama likes to tout where he says "We own 2% of the world's "proven reserves". Neither are all the probable reserves in the outer continental shelf counted. With an true pro oil and gas development President, and with strengthening ties to Canada with Keystone Pipeline, USA could become darn near energy independent from Mid East by year 2020. It will never happen if Obama is re-elected.