Obama Budget Risks Nation’s Energy Security

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Obama Budget Risks Nation’s Energy Security

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President Barack Obama’s 2010 budget proposal makes it appear he’s ready, willing and able to bury Americans in new taxes, place the nation’s energy security in peril and put  six-million American jobs at risk.

In a statement Friday regarding his proposed 2010 budget for the nation, the president had this to say about energy:

Specifically, this Budget details the pillars of the stable and broad economic growth we seek: making long overdue investments and reforms in education so that every child can compete in the global economy, undertaking health care reform so that we can control costs while boosting coverage and quality, and investing in renewable sources of energy so that we can reduce our dependence on foreign oil and become the world leader in the new clean energy economy.

Translated, the statement means he plans to strip the nation’s oil and gas industry to the bone by taking away tens of billions of dollars in tax breaks.  If passed, such draconian moves will result in substantial cutbacks on domestic oil exploration and, in turn, put millions of industry jobs at risk.

“The new taxes are anti-jobs, anti-consumer, and anti-energy,” said American Petroleum Institute President Jack Gerard this morning in a statement regarding taxes on oil and natural gas companies in the administration’s budget proposal.  “They will depress investment in new domestic oil and gas projects, weakening the nation’s energy security.

“Six million American workers depend on the oil and natural gas industry for their jobs,” Gerard explained.  “Raising taxes in a time of economic decline is a recipe for disaster.  Historically, new taxes hurt businesses, threaten jobs, and lead to higher prices for consumers.

“Higher energy taxes that reduce production and increase costs take money from every American household.  We need to get the nation on the road to economic recovery.  New taxes on domestic energy production make that task substantially harder.”

If you think we should do everything possible to reduce our country’s dependence on foreign sources of oil and natural gas, make your voice heard by CONTACTING YOUR ELECTED OFFICIALS in Washington, D.C., and demanding they oppose President Obama’s dangerous budget proposal.

To learn more about the jobs at stake, click here.

-- Bob McCarty Writes