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Freedom Warrior Radio--Big Oil and Obama's BIG MOUTH

  • Broadcast in Politics Conservative
Greg Halvorson

Greg Halvorson

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-America has an estimated $1.4 trillion barrels of recoverable oil, 70 times the "2 percent" figure Obama is spouting....
-Oil industry profit margins are 6-8%..... Apple Computer's is 26%....
-The oil industry is the government's second largest source of tax revenue....
-Oil profits are a boon to private and public pension funds....
-The government takes 40 cents of every gas dollar paid... Oil, 6-9 cents....
-There are no direct oil subsidies, only tax deductions.... These are available to ALL companies, and the $4 billion figure, spread across 14,000 oil/ gas firms, amounts to NINE HOURS of federal spending. 

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