Breitling Oil and Gas Morning Podcast #77 May 26th, 2012

Unless one’s head has been completely buried in the sand, it is well-known that President Obama and his administration is anti-business and especially anti-oil.

Oil is what runs our nation and is the main reason that we have had cheap energy to power our nation to becoming the most powerful and prosperous nation ever. Obama has wasted billions of our dollars subsidizing solar and wind, only to have the companies go bankrupt, despite the gift. It has been reported, for example, that the Chevrolet Volt is subsidized to the tune of $234,000 for each car.

If we listen to the liberal mainstream media and to the administration, we would think that the oil companies pay no taxes. Well, let us look at just a small sampling of some oil company taxes.

$21.6 billion at a tax rate of 45 percent.

Chevron Oil paid $12.9 billion at a tax rate of 40 percent.

Let’s not fall for this overdone rhetoric that attacks the very system that has made the US so great. Stay informed, look at both sides, and vote intelligently.

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