Time to End Big Oil Welfare: Take Action!

big oil taxes

Everybody is tired of Big Oil making record profits and getting billions in tax breaks while the country suffers economically. The League of Conservation Voters is the latest to create a petition on the matter. I encourage you to sign it. From the petition page (points I’ve already made in past articles):

The big five oil companies reported more than $67 billion in profits during the first six months of 2011.

At the same time, these same oil companies are getting billions of dollars in taxpayer-funded handouts each year. In fact, even as ExxonMobil made more than $118 million a day in profits last quarter, it is still paying a lower tax rate than the average American.

It’s time for this to stop. Tell Congress to end Big Oil handouts.

Pretty clear that something needs to be done. Add your voice and sign the petition to “End Big Oil Handouts” today.

But, if that’s not enough for you yet, here are some more staggering facts from TrueMajority:

Over the past decade, the big five oil companies — BP, Chevron, ConocoPhillips, ExxonMobil and Shell — have enjoyed more than $900 billion in profits. Let me repeat that. Since 2001, the world’s biggest oil companies have made over $900 billion in profits.

At the same time, these oil companies benefit from more than $4 billion in special tax breaks and other giveaways every year. Why are we subsidizing one of the most profitable industries? Why does ExxonMobil get a tax break while so many Americans are struggling to make ends meet and get stuck paying higher gas prices?

Tell the House of Representatives to step up their game and tax these oil companies fairly today.

Make Big Oil Pay photo via Rainforest Action Network

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