Obama: About That $4 Billion Oil Subsidy

h/t eggnob.comWhen Barack Obama took the reigns of the Presidency in January 2009, the average price per gallon of gas in the U.S. was $1.847.  On January 4, 2010, the price was $2.665.  A week ago (4/18), the price had increased to $3.844.

On Saturday, Obama claimed there was no “magic bullet” to bring down oil prices and that we should end the $4 Billion in taxpayer subsidies to Oil Companies.

About that…

Americans consume 378,000,000 gallons of gas per day (2009).  Assuming a fairly linear increase in the price of gas, Americans pay an increased price at the pump for each gallon each and every day.  If we go only back to the beginning of 2010, we only need 4 short months to spend the $4 Billion amount decried by Obama in increased prices at the pump.  That’s $4 Billion that could be in our pockets… …or invested in drilling in the U.S. (instead of Brazil).

The stunning total increase in price that Americans have paid at the pump since the beginning of 2010 is $107,876,810,687 — yes that’s BILLION.

Thank goodness Obama has found the solution by zapping that $4 Billion in subsidies.  That’ll fix it!  …except that parts Oil Subsidies are used to create new drilling.  If you ask an American if they’d spend $4.00 to save $103.00, they’d probably say, “YES YOU IDIOT!”

In the past 9 days, Americans paid more for the increase in gas prices since 1/4/2010 than they did for the the evil Oil Subsidies.

3 responses to “Obama: About That $4 Billion Oil Subsidy”

  1. Well, there was a magic bullet that increased the price of gas, so obummer should use that same bullet to decrease it. Who but the terminally naive believe that gas prices increased tremendously in such a relatively short amount of time through natural processes? Don’t people rmember obummer’s administration saying our gas prices would go to $10/gal like in Europe? People hear only what they want to hear.

  2. Yes, Obummer is an idiot, that is all i heard and believe.

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