Editorial: Obama's message
Oil & Gas Journal
President Barack Obama to the U.S. oil and gas industry: Get out of town. That's the message in the president's budget proposal for fiscal 2011.
Obama doesn't like fossil energy. He thinks anything that encourages production of fossil energy impedes development of what his budget narrative hails as the "clean energy economy." So he wants to tax away oil and gas.
Obama proposes the same errors on oil and gas that he offered in his fiscal 2010 offering but failed to push through Congress. The repetition is portentous. It means last year's menu of economic poison represented more than bumbling by beginners. Obama and his team have had a year to learn. Yet they reject any lesson that challenges their activist agenda. Obama proved his recalcitrance by promising, in his state-of-the-union speech Jan. 27, to keep promoting an unpopular, state-centered, and now politically disastrous program for health care reform.
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