Brilliant! Smartest President Ever Claims That Eliminating Fuel Subsidies Will Lower Gas Prices

It must be that new math. President Obama points his finger at the evil oil companies and blames them for high gas prices. He claims that if we eliminate their subsidies that prices will go DOWN! Huh?

Brilliant!

The Hill reported -

The president laid out his own plan for controlling prices, focusing on ending price gouging but calling for an end to the $4 billion in federal subsidies for oil and gas firms.

He said there are some steps the U.S. can take to improve the situation such as ramping up domestic oil production and ending subsidies for oil and gas firms.

“That’s $4 billion of your money going to these companies when they’re making record profits and you’re paying near record prices at the pump. It has to stop,” Obama said.

Wikipedia defines a subsidy (also known as a subvention) as a form of financial assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributors in an industry to prevent the decline of that industry (e.g., as a result of continuous unprofitable operations) or an increase in the prices of its products or simply to encourage it to hire more labor.

Got that? Subsidies prevent an increase in prices. Remove the subsidies…prices go UP!

Nicholas Loris at Heritage.org said it best.

Blaming speculators and creating unnecessary task forces is a good way for the Administration to signal it is “doing something” about high gas prices. But the truth is that the federal government is merely diverting attention away from its bad policies.

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#1 April 23, 2011 at 5:50 pm
rampart ranger commented:

It’s so wierd…first we tax their product up the wazoo, then we turn around and give them subsidies. How about we cut the gas tax and end the subsidies at the same time? Just to cut out the bureaucrats and make things more rational?
#2 April 23, 2011 at 5:52 pm
WOLVERINEMEX commented:

GOOD POINT RAMPART UNTIL YOU GOT TO THAT RATONAL PART

I DONT THINK WE CAN DO THAT
#3 April 23, 2011 at 5:53 pm
WOLVERINEMEX commented:

I MEAN RATIONAL
#4 April 23, 2011 at 5:55 pm
Granny commented:

Does IWonWTF not track what he himself says and the actions his regime takes? Of COURSE the price of gas will come down if we ramp up production of our own domestic supplies. Republicans and Sarah Palin have been screaming about that for several years! Unfortunately he has tied up every bloody inch of our oil fields with No Drill Here orders. Kind of hard to ramp up production if you can’t drill anywhere!
#5 April 23, 2011 at 5:57 pm
WOLVERINEMEX commented:

YOU KNOW IVE BEEN DRIVING MY 75 DODGE DART SPORT WITH A 225 SLANT SIX ENGINE AND I THINK I CAN HOLD OUT TILL IT HITS MAYBE 7 DOLLARS A GALLON BEFORE I START WALKING MY FAT **S TO WORK
#6 April 23, 2011 at 5:59 pm
avery commented:

Some people believe this “CRAP” that this man spread,he want to waste money on”Fairy Dust”
#7 April 23, 2011 at 5:59 pm
WOLVERINEMEX commented:

IS IT LEGAL TO MAKE YOUR OWN GAS?
#8 April 23, 2011 at 5:59 pm
winston commented:

“Even if you haven’t faced a job loss” The new normal.
#9 April 23, 2011 at 6:01 pm
WOLVERINEMEX commented:

I HAVE 7 SERVICE TRUCKS

SO I HAVE TO TELL ALOT OF JOKES

BECAUSE IM GONNA GO BROKE

BUT I WANNA GO HAPPY
#10 April 23, 2011 at 6:08 pm
Alana commented:

Here’s his genius reasoning:

“Instead of subsidizing yesterday’s energy sources, we need to invest in tomorrow’s,” he added, voicing his opposition to a proposal before Congress that would cut the government’s clean energy investments by 70 percent.

So. While we wait for tomorrow’s, we can just, you know, not drive.

(Except his family of course – they can go however, wherever, and whenever they want, and do, on our dime.)
#11 April 23, 2011 at 6:10 pm
templar knight commented:

I have a better idea. Let’s end the subsidies for wind, solar and ethanol. The prices will come down, and the energy crisis will be solved. We truly have the dumbest President in our history. And the most dangerous.
#12 April 23, 2011 at 6:26 pm
Uggy Parfait commented:

Anyone that now listens to what Obummer has to say is stupid. He is a 100% constant liar.
#13 April 23, 2011 at 6:27 pm
Floyd Looney commented:

I am opposed to subsidies of all forms because I want the marketplace to decide. The fact is that this administration is most responsible for higher oil prices.
#14 April 23, 2011 at 6:28 pm
Ginger commented:

The “puppet” said to the “puppet masters”…. the plan is going well!
#15 April 23, 2011 at 6:30 pm
BurmaShave commented:

Well at least this is an other $4B Obama is now declining to spend.

I would say that is a good thing. Gas prices are going up with or without the “subsidy.” If Obama want to take this risk, I say good. It is about the second risk he has taken since he become president (and I can’t remember what the first one was).
#16 April 23, 2011 at 6:33 pm
DomesticGoddess commented:

PLEASE FIRE THIS IDIOT’S SPEECH WRITER.
#17 April 23, 2011 at 6:37 pm
Buffalobob commented:

The real joke is that he is smarter than most of his Chicago constituents.
#18 April 23, 2011 at 6:38 pm
surfin' bird commented:

Ah yes, Pres. Barack Madoff – the great destroyer of wealth, speaks.
#19 April 23, 2011 at 6:39 pm
Redwine commented:

Just as in any management/employee relationship, if he, the employee, screws up on the job, we, the people, should be able to fire his lousy ass. Seeing that he has committed a number of high crimes and misdemeanors during his period of employment, recommending him for a long sentence in prison is about the best we can do.
#20 April 23, 2011 at 6:42 pm
gus commented:

Hey Floyd Looney Let me ask you a simple question.
Say your name was Floyd Exxon, and you gave Opie the fu**ing diwmit and the US GOVT 50 BILLLLLLLLLLLLLLLLLLLLLION @ YEAR. And he gave you 4 BILLLLLLLLLLLLLLION BACK.

Who the fu** is SUBSIDIZING WHO????

Then we stop giving back the 4 Billion.

What happens to the price of oil??

Only a LIBTARD FU** FOR BRAINS would be stumped.