Will Necessarily Skyrocket

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What a moron. From Fuel Fix:
Obama repeats call to end oil industry tax breaks
President Barack Obama today implored congressional leaders to repeal a portfolio of tax deductions reserved for the oil and gas industry, as anxiety about the cost of gasoline soars along with prices at the pump.

In a letter to the top Democrats and Republicans in Congress, Obama said the �unwarranted tax breaks for the oil and gas industry� should be eliminated and replaced with investments �in clean energy to reduce our dependence on foreign oil.�

�There is no silver bullet to address rising gas prices in the short term,� Obama said. But he added that slashing �these wasteful subsidies� for oil and gas producers would help in the long term.
An absolute moron. There is no clean energy -- the only thing that comes close is nuclear and we are doing nothing substantial there. Those subsidies he is talking about is the depreciation on older equipment. The government is not forking over piles of cash to these companies, they are allowing them (like all other businesses), to depreciate the value of capital equipment that has a fixed useful lifespan. Total amount is about four billion. Wind? Solar? These are low-density jokes. But then, we need to cut Obama some slack -- he just found out that the inventor of the TelePrompTer passed away:
TelePrompTer inventor Hubert Schlafly dies at 91
A key member of the team that invented the TelePrompTer, which feeds scripts to actors, politicians and newsreaders, has died at the age of 91.

Hubert Schlafly Jr died last week in the US state of Connecticut after a brief illness, according the funeral home that handled the arrangements.

His funeral was held on Tuesday in town of Greenwich, where he lived.

Schlafly was working at 20th Century Fox film studios in 1950 when he developed the TelePrompTer.

He had been asked by the company to build a device that would help actors remember their lines.

Schlafly's prototype TelePrompTer, which debuted on the set of a US soap opera, was placed beside a film camera and used a motorized scroll of paper inside a suitcase to assist the show's actors.

The device was soon adopted by politicians and was used at the Republican Party's national convention by former US President Herbert Hoover in 1952. It has been employed by every US president since that time.

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This page contains a single entry by DaveH published on April 26, 2011 9:54 PM.

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