Wednesday, July 01, 2009

Gee Whiz, You Mean Cap and Tax Will Actually Make America MORE Dependent on Foreign Oil?

Yep. It sure will. As usual, liberals only think of making themselves feel better. They very rarely ever consider the long reaching consequences of their actions. They never try to figure out what might happen if their idiocy ever becomes law. Maybe they think we are too sane to ever allow them to actually make law, or perhaps they just are insane. Either way, it spells danger and doom for our economy. From Bloomberg:
America’s biggest oil companies will probably cope with U.S. carbon legislation by closing fuel plants, cutting capital spending and increasing imports.

Under the Waxman-Markey climate bill that may be voted on today by the U.S. House, refiners would have to buy allowances for carbon dioxide spewed from their plants and from vehicles when motorists burn their fuel. Imports would need permits only for the latter, which ConocoPhillips Chief Executive Officer Jim Mulva said would create a competitive imbalance.

“It will lead to the opportunity for foreign sources to bring in transportation fuels at a lower cost, which will have an adverse impact to our industry, potential shutdown of refineries and investment and, ultimately, employment,” Mulva said in a June 16 interview in Detroit. Houston-based ConocoPhillips has the second-largest U.S. refining capacity.

The same amount of gasoline that would have $1 in carbon costs imposed if it were domestic would have 10 cents less added if it were imported, according to energy consulting firm Wood Mackenzie in Houston. Contrary to President Barack Obama’s goal of reducing dependence on overseas energy suppliers, the bill would incent U.S. refiners to import more fuel, said Clayton Mahaffey, an analyst at RedChip Cos. in Maitland, Florida.

Yes, folks, good thing the Chosen One bowed to the Saudi King, because under Cap and Tax, we are all going to be bowing lower and lower to foreign oil. It is simple economics. The costs of production will be greater than importation, so we will eliminate jobs in America and do more overseas. Great way to fix the economy, by subtracting good, high paying oil jobs for the sake of suppressedsettled science, right? These people care only for their own power and their own sense of self love and sense of cult of personality. And we are all going to pay the price.....