RUSH: Woodbridge, Virginia, welcome to the EIB Network. Hello.
CALLER: Hello, Rush, mega dittos. It's a real pleasure to get a chance to talk to you.
RUSH: Thank you, sir, very much. I appreciate that.
CALLER: Sir, I would like to say that, you know, when you talk about these residents not wanting to cut off their property taxes, I couldn't help but think to myself, didn't Obama publicly come out and say he wanted to kill the coal industry. So I can't help but think that maybe they may anticipate that he wants to go after the oil industry as well and so why not --
RUSH: I understand the point that you're making. He's already going after the oil industry. It's called the Keystone pipeline and the drilling moratorium in the Gulf of Mexico. He's doing everything he can to hamper Big Oil. Now, this story, he's talking about property taxes here. This is out of the Wall Street Journal: "An energy boom has flooded North Dakota's coffers at a time when almost every other state is struggling to make ends meet. But when its fiscally conservative residents get the chance Tuesday to vote themselves a big tax cut, they are expected to say 'no.' At issue is a referendum for a proposed constitutional amendment to eliminate local property taxes, requiring the newly flush state government to make up the difference."
They got plenty of money because of this boom. It's an oil boom, and the residents have a chance to get rid of property taxes. Public unions, employee unions, are leading the charge to oppose eliminating the property tax. They want it maintained. Basically what we have here: "Proponents, a loose group that includes people ranging from progressives to tea-party members, say the state can afford it, thanks to as much as $3 billion in expected revenue from taxes on oil and natural-gas production in the current and next fiscal years. They also cite sales-tax revenue that has jumped 86% from two years ago because of an influx of new residents and businesses.
"But the measure's many opponents, including Republican Gov. Jack Dalrymple and organizations ranging from the North Dakota Chamber of Commerce to public-employee unions, fear that eliminating property taxes is too risky a bet on prosperity that might not last. They point out that state government already is pumping more money into local communities that is helping to reduce property taxes. And they say the proposed amendment doesn't explain clearly how it would cover the loss of the estimated $810 million that counties, towns and other local entities receive annually from property taxes." Likely voters oppose the measure by nearly three to one. So they're worried here that the boom won't last. And what Ben here is saying is they might have a fear, since Obama is telling the coal industry that they're toast, that he might also tell these people he might outlaw fracking. He might make the way they are extracting oil illegal, shut it down.
Now, the story does not allude to that. But it's an intelligent thing to suspect, given Obama's track record on other conventional sources of energy. But the oil industry is on Obama's Kill List, just like coal is. The Kill List is not just terrorists. No, no, no, no, no. The Kill List is not just terrorists. Big Oil and a number of other private sector businesses and industries. Now, we know that Obama hates fracking. Anything that's new. "What do you mean, Rush, he's for electric cars." That's not new. Do you realize how old the electric car idea is? Would you like to take a guess? How old? When was the first electric car idea proposed? You're gonna be stunned when I tell you. One hundred nine years ago. One hundred nine years ago. That's how old the notion of an electric car is. A hundred nine years. You could say people have been working on this for 109 years and we've not gotten past the golf cart, in practicality.
Everything Obama's doing is looking backwards. He's against fracking, a new way to get more oil. We've got more oil deposits in this country than the Saudis have. Now, we can't get it the conventional way. It takes new techniques, which are now viable, which are now profitable. Big Insurance is on the Kill List, Big Pharmaceutical, Big Sugar. And not just Obama's, but practically every liberal Democrat has these industries on the Kill List. So in a way you can understand the people in North Dakota. They know property tax funds certain things, and they're afraid Obama might just come shut down the source of all the revenue 'cause he doesn't like private sector revenue this way.