Barack Obama’s energy policy is not going to be “Jimmy Carter lite.”
Instead, it’s going to be Jimmy Carter on steroids, complete with ‘roid rage.
Obama tipped his hand in a little coded doublespeak on 60 minutes.
Obama is going to have Carter’s bad policy ideas, but unrestricted by the humility of a peanut farmer. Humility will be replaced with the arrogance of a Community Organizer who believes he knows more than the community itself, mixed with the self-righteous anger of a Green Peace environmentalist who woke up one day and found himself in charge.
Jimmy Carter may have had good intentions in 1977 when he asked us all to conserve energy. He was responding to the energy mess that followed the OPEC embargo in 1973.
Carter also wanted prices to stay up so we would use less fuel. His energy policy put in place to accomplish that was, in farmer’s terms, about as effective as a milk bucket under a bull.
Jimmy Carter levied a “windfall profit tax” on oil companies.
Profits are profits and there really is no such thing as “windfall” profits. It’s an antiquated legal term stemming from an old law that said you couldn’t cut down and sell your trees, but if the wind fell your tree, you could sell it at a profit. Thus “windfall” profit.
So Carter had to create this artificial definition for windfall profit: The difference in price the government wanted oil sold for, using 1979 as the standard, and the actual price the oil company sold it for.
Simplified, if an oil company made more than it made in 1979, it got taxed.
To Carter’s bewilderment, prices still dropped.
The lesson Carter learned was that oil prices are governed by far more than just an American President gouging domestic companies for taxes. All he did was take money from them that they could have used elsewhere – like in research.
The windfall profit tax was repealed as useless in 1988.
Now Barack Obama, never to be confused with a student of history, wants to give it “the old Jimmy Carter try” and bring back the windfall tax.
We already knew that though. Here is the new part:
Now that gasoline prices have shot down to the lowest levels in years, Obama revealed his desire to put his hand in between you and the gas pump. He told 60 Minutes this regarding the drop in gas prices:
“You know, oil prices go up, gas prices at the pump go up, everybody goes into a flurry of activity. And then the prices go back down and suddenly we act like it’s not important, and we start, you know filling up our SUVs again.
And, as a consequence, we never make any progress. It’s part of the addiction, all right. That has to be broken. Now is the time to break it.”
Note the reference to you and your SUV. Obama thinks you’re a wasteful SOB.
He won’t just put a tax on the oil company profits; he wants to tax your personal consumption at the pump directly, too.
Remember during the campaign when John McCain and Hillary Clinton wanted to declare a “gas tax holiday” and suspend the federal 18.4-cent federal tax on a gallon of gas last summer? Obama slapped the idea down harder than Naomi Campbell slaps her maid. That should have been our first clue that Obama would be our Presidential pickpocket.
Carter tried gas tax hikes too, but it didn’t pass, even with a Democrat controlled congress. Today, Congressional Democrats can’t see past bogus Global Warming claims. Labeling a gas tax “green” is all it will take to get one passed this time. Artificial anabolic “green” claims will empower Obama.
If you thought wrestling your wallet away from Jimmy Carter was hard, wait until it’s Jimmy Carter on steroids.