Obama wants to end oil company subsidies. This sort of makes sense, as these subsidies are meant to promote domestic drilling and exploration. Which we know they don’t do, at least not aggressively. These subsidies amount to billions of dollars.
But, what happens if they do remove the subsidy. The greedy oil companies will just raise our cost at the pump to make up for loss.
Is there any way for the consumer to win. I don’t see any, and keep it a free enterprise. We can’t cut back on our use, because they will raise the price to maintain their profits, which would be lost because of less sales.
We can’t use more, because they will raise their prices due to demand. I guess they just have us all “over the OIL barrel”.
That Is How I See It.