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Jared Tracy leads dreamers. He is a marketing consultant as well as a business leader and entrepreneur. He is an accomplished copywriter, prolific blogger, and communication coach. In a past life he was a genius in Database and Web Technology development. Jared travels to various trade shows and events for the technology and consumer products industries. He is also a public speaker on topics such as marketing, product development, and leadership.

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Obama Supports Big Oil

June 10th, 2008 • Related • Filed Under

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Democratic Party nominee, Barack Obama, showed his support for big oil on Monday by proposing that an additional $50 million in tax rebates and extensions to unemployment benefits. His reasoning is the continued rise in unemployment and the need for relief from rising fuel and food costs.

Contributing greatly to the rise in fuel and food costs is the existing federal stimulus package. Extending that stimulus package is only going to cause greater increases in fuel and food costs. The economic reasoning for this is simple. More money has entered the economy without an increase in productivity, GDP, output, etc. This always has, and always will, create inflation. Fuel and energy prices are the most immediate place where we will see this increase because they are highly consumable products.

The economic proposal from Obama on Monday was simply a great subsidization of the oil companies with our tax dollars. It is very little different than the gas tax holiday that McCain has been proposing for the last couple of months. It just looks a little bit different because it comes in a different flavor. Rather than being just a gas tax holiday subsidizing oil companies, Obama is proposing that we use unemployment benefits and tax refunds to subsidize oil companies. Call McCain what he wants, Obama should really just call himself McBama.

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  1. Pingback by Gas Saving Tips Better Than a Gas Tax Holiday : Words Cause on 10 June 2008:

    [...] PostJune 10, 2008 — The Fallacy of Gas OutsJune 10, 2008 — Obama Supports Big OilJune 6, 2008 — From Sea to Shining Sea… Our Lawmakers are CluelessJune 3, 2008 — 2008 [...]

  2. Pingback by Obama Proposes Subsidy for Big Oil « Opportunity Knocks My Head on 10 June 2008:

    [...] Often cited has having a better grip on economic issues, Barrack Obama surprisingly proposed a $50 million subsidy for big oil on Monday. Where have you spent your tax rebate check? My guess is that you’ve spent it (will [...]

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