Following weeks of Obama railing on the $4 billion a year oil companies receive in tax breaks, in the midst of record profits and after about a century of … [Read full article]
Tag: oil tax breaks
Obama: Time to End Oil Subsidies
Obama has been railing on the nonsensical subsidizing of oil companies in every speech I’ve seen or read from the past month or so — that would make about … [Read full article]
Big Oil: Tens of Billions in Cash Reserves but Opposing Fair Tax System
On September 19 President Barack Obama announced his plan to reduce the deficit by $4 trillion over the next 12 years, including raising $1.5 trillion by closing special interest loopholes and other revenue raisers. This includes eliminating $41 billion in tax loopholes for the oil and gas industry (p. 63) over the next decade.