Dirty Energy & Fuel oil tax breaks congressmen

Published on March 29th, 2012 | by Zachary Shahan

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GOP Kills Obama Effort to Cut Big Oil Tax Breaks

 
oil tax breaks congressmen

Of course, the oil company tax breaks ($4 billion a year of them) that the White House was trying to get Congress to remove were protected by oily Congressmen and Congresswomen primarily from the Republican Party (GOP) today. Why would they stop subsidizing oil companies making record profits that have been subsidized by taxpayers (who also pay at the pump) for about a century? Anyway, as you might be able to tell, I’m a little disgusted by it all, so here are more details via AFP:




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About the Author

is the director of CleanTechnica, the most popular cleantech-focused website in the world, and Planetsave, a world-leading green and science news site. He has been covering green news of various sorts since 2008, and he has been especially focused on solar energy, electric vehicles, and wind energy for the past four years or so. Aside from his work on CleanTechnica and Planetsave, he's the Network Manager for their parent organization – Important Media – and he's the Owner/Founder of Solar Love, EV Obsession, and Bikocity. To connect with Zach on some of your favorite social networks, go to ZacharyShahan.com and click on the relevant buttons.



  • http://none JJ

    It is only $4B? This seems trivial compared to the size of the market.

    Recent evidence from the Energy Information Agency (EIA) shows that government entities in the U.S. are also hugely dependent upon the direct and indirect taxes paid by the largest oil companies. Net earnings for the largest petroleum companies from 1981-2008 totaled $1.4 trillion and the total amount of taxes collected by U.S. governments from the oil companies in that same time period topped $1.95 trillion, roughly 40% more than the industry’s combined profits.

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