Independence: But At What Cost?
by Bill Sardi: How
Does Anybody Make a Living These Days?
are arguing for elimination
of $4 billion of tax breaks for oil companies. But how disingenuous
these efforts are! The public is paying to re-tool the American
oil industry via higher prices at the pump, to subsidize fracking
(hydraulic fracturing) technology that tap into shale bed oil. This
method of extracting oil from shale is more costly and essentially
perpetuates high oil prices.
may become more energy independent, but with real inflation at 7-10%
(ShadowStats.com) and high
rates of unemployment, $5-6 gasoline may be the straw that broke
the camelís back. Yes, money that would normally flow to foreign
oil producers will now stay at home, but who can afford $5/gallon
pretends he is doing something about this by saying he will consider
tapping into the nationís oil reserves. But the President has no
intention of lowering gasoline prices.
secretary Steven Chu was asked if "the overall goal is
to get our price lower?" Chu reportedly replied: "No,"
having said back in 2008 when he was first named to his position
that "the administrationís goal would be to raise prices high
enough to make
expensive alternatives more competitive."
Heritage Foundation points out that high gas prices make electric
and hybrid cars more appealing, a policy consistent with Obama administration
and secretary Chu.
So the administration
in Washington DC appears to be trying to force more energy efficient
electric cars upon the public. There is no free market here. Americans
are being herded into buying electric-powered automobiles
with high gasoline prices! The President
recently said fuel-efficient cars are an answer to high gas prices.
He might as well have been wearing a cap that says "Chevrolet"
when he made that statement. But those 55 mile-per-gallon cars the
President talked about are more than a decade away. Auto buyers
may save up to $8000 over time as the President claims, but these
vehicles cost much more than standard autos, so the promised savings
A Chevy Volt
costs $41,000 and is its average
purchaser earns a $175,000/year income! Imagine Mr. Obama making
a sales pitch to the 1% along with a $7500 tax credit to boot.
has become a shill salesman for the Obama-car as the Chevy Volt
is known, since the Federal government bailed out General Motors
who manufacturers the Volt. Sales of the Chevy Volt are so bad (only
about 6000 have been purchased) that its production
line is being shut down for three months.
has made a habit of talking out of two sides of his mouth. He recently
said his payroll tax extension, which amounts to about $40/month
for people making $25,000 a year ($1.33 a day), "means $40
extra in their paycheck, and that helps to pay the rent, the
groceries and the rising cost of gas which is on a lot of
peopleís minds right now." But Mr. President, since you took
office gasoline has risen from about $1.85 per gallon to over $4.00
per gallon, which one
blogger pointed out would cost an extra $40 for every 20-gallon
fill-up. If you give back what you have taken away, what do you
call that? And the 99% like this guy?
recent polls, maybe maybe 50% of voters give a favorable rating
to Mr. Obama. Many Americans believe in Mr. Obama, not because he
is effective, but because they believe he is trying for them, and
because they donít want McCain or Romney. Many Americans donít realize
Mr. Obamaís form of crony capitalism isnít American at all.
him mail] is a frequent writer on health and political
topics. His health writings can be found at www.naturalhealthlibrarian.com.
latest book is Downsizing
© 2012 Bill Sardi Word of Knowledge Agency, San Dimas, California.
This article has been written exclusively for www.LewRockwell.com
and other parties who wish to refer to it should link rather than
post at other URLs.†
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