As Economy Tanks, Geithner Growls About Global Warming
With the stock market collapsing and a depression looming, our tax cheat Treasury Secretary is grappling with weighty concerns. Foremost among them: the apocryphal global warming crisis.
U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday.
In a socialist kleptocracy like ours, “not receive federal subsidies in the form of tax breaks” is liberalese for getting raped and pillaged by Big Government.
It was one of the sharpest attacks yet on the oil and gas industry by a top Obama administration official, reinforcing the White House stance that new U.S. energy policy will focus on promoting renewable energy sources like wind and solar power and rely less on traditional fossil fuels like oil as America tackles climate change.
Windmills and pixie dust will be just the trick to pull us out of a deep recession.
The Obama administration’s budget would levy an excise tax on oil and natural gas produced in the Gulf of Mexico, raising $5.3 billion in revenue from 2011 to 2019.
This should lay to rest any hopes that the Cloward-Piven Marxists running the government will allow the economy to recover.
On a tip from mega. Cross-posted at Moonbattery.