The Budget’s Energy Provisions - Tax Baby Tax
Posted March 3rd, 2009 at 2.27pm in Energy and Environment.

The Obama administration’s Secretary of the Interior Ken Salazar has had a very busy first six weeks. His agency, which handles most domestic energy leasing, has already canceled many onshore oil and natural gas leases. Interior has also slowed to a crawl any progress on new offshore oil leases, and has done the same for oil shale in Colorado. The pro-energy promise of 2008, when President Bush and Congress belatedly began to respond to skyrocketing pump prices by allowing increased domestic production, has already been reversed. In this short span, Interior has embarked on an anti-domestic energy path that stands in contrast not only to Bush but Clinton as well.
Now it’s the Department of the Treasury’s turn to join the anti-energy push. The budget includes a number of provisions, the effect of which is to raise taxes on domestic energy production. For example, there are increased fees on Gulf of Mexico oil and gas production, repeal of the manufacturing tax deduction for oil and natural gas companies, as well as accounting changes unfavorable to drilling. The anti-energy bias was particularly clear in the repeal of the manufacturer’s tax deduction, which still applies to all other industries except oil and gas production. Overall, $31 billion in additional revenues are to be collected, and from an industry that by most measures already has effective tax rates as high or higher than the industrial average.
So the one-two punch of Interior and Treasury energy policy under President Obama is to make unavailable as much new domestic oil and gas as is possible, and to make what is available as unprofitable to pursue as possible. It is as if a return to last summer’s $4 a gallon gas is the goal.

March 3, 2009 Ron, Derry NH writes:
At what point does this administration rise to a level of anti Americanism so financially devastating that some one starts acting to defend us??
This looks as though a foreign power is using acts of war against us from within.
Economic upheaval, resource limitation and immigration to overload the social structure. This one two punch disguised as a political view is nothing more than the tactics used to defeat a nation and submit it to what ever is coming.
I seem to remember Hitlers technique, to bomb behind the lines to disrupt the communication and civil controls, choreographed to overload the political and social structure with fleeing peasants and then marching in to sweep up the chaos.
We are getting the same from our own politicians, with Obama leading the coup. Economic chaos, further debt and a break down of normal social order. Taking from the haves and giving to the have nots and then the final destruction followed by limited resources and government control of all walks of life.
Liberty comes from a government protecting it’s people; not increasing their debt and limiting their survival ability.
This administration is doing everything within its power to physically limit productivity and enrich its power over all.
Some one who acts like this has got to have his loyalties questioned.