Congress takes aim at Big Oil tax break.

Let’s conclude that Big Oil tax break for new oil drilling is cut. What would the possible results be? First Big oil may increase prices and keep investing in new oil development. Second Big Oil may stop investing in new development and not need the tax incentive. The uninformed public will love the slap down of Big Oil and the politicians will garner more misguided support. Profits to Big Union retirement funds will go unchanged as Big Oil fears having to tell the teamsters they won’t get any profits. Big Government won’t see any increased revenue if Big Oil decides not to invest in new oil drilling. Big Government will see 2 billion a year in increased revenue if Big Oil increases prices. 2 Billion a year transferred from poor working dogs to the Federal Government gee those Big Oil guys make good tax collectors. 2 Billion now that won’t amount to a butterfly wing flap in a hurricane but the slap down of Big Oil is what counts and after all one must show we are trying to curb our 14 trillion debt and 100 trillion in unfunded welfare entitlements. Yep after the 2 billion dollar slap down of Big Oil we can run on that. And what if some in government choose to keep the Big Oil deduction on investment costs to aid in new development and the misguided envy card is not allowed. Well then we can run on “it is Big Oil and its cronies in government” that are keeping us from confronting our debt and destroying our children’s future. If one steps back and looks at our energy issues it could be concluded that new development of Oil reserves may be a good thing at this point in our history. I myself would put military forces (or a CCC setup for those currently being paid not to work) to work helping build new oil fields and pipelines, but that’s just me. Our problems are deep and systemic. Political gamesmanship mixed with rancor, envy and bigotry may have served the “Parties” in the past but today we have rather big fish to fry. The world is seeking another currency to base value on rather than the unstable dollar. Our bond rating is under stress. Our grand children will owe foreign banks trillions before they even begin to work or vote, this is our doing and our folly. Our leaders have us wallowing in petty politics of deflection and rancor that divides us more and more. Each camp fearful of the bounds set up by unreasonable public discourse. If a Nation ever needed divine intervention it would be ours. I fear the fear of change will win out, God help us all.