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Obama’s Stimulus Plan: “Obama is Channeling Jimmy Carter”

Posted August 3, 2008

Jimmy Carter set in motion the energy crisis that America is experiencing today. He was aided by a Democrat-controlled Congress that imposed a Domestic Crude Oil Windfall Profits tax on oil companies who he blamed for the crisis that had led to long lines at gas stations.

by Alan Caruba, Canada Free Press

Baltimore — (TFN): In 1980, President Jimmy Carter set in motion the energy crisis that America is experiencing today. He was aided by a Democrat-controlled Congress that imposed a Domestic Crude Oil Windfall Profits tax on oil companies who he blamed for the crisis that had led to long lines at gas stations. It was, however, the OPEC nations, not the oil companies, that decided to force up the price of oil.

In tandem with the tax, Carter announced that any attempt by an outside force to gain control of the Persian Gulf region would be regarded as a threat to U.S. interests, in effect taking on the responsibility to defend the area. U.S. flags went up on oil tankers in the Persian Gulf and the U.S. Navy became responsible for protecting them.

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Posted by J. Christoph Amberger · Filed Under Oil and Energy 

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