Big Oil Subsidies

Can Big Oil Survive Without Your Tax Dollars?

Written by Green Chip Stocks
Posted May 13, 2011

Oh, you're not going to believe this one.

Check out this excerpt from a ConocoPhillips press release that went out on Wednesday . .

Further expanding on the outlook for the company, Mulva expressed concerns about the challenging political environment facing the energy industry, in particular, the potential impacts of increased regulatory burdens and proposed tax increases.

"These unprecedented proposed taxes, targeted at only five companies, would have serious effects on our company. We already have the highest effective tax rate among companies in the United States and these proposals unfairly single us out for additional taxes," said Mulva. "Not only would increased taxes cost jobs, raise consumer prices and shrink government revenue, but they would also hamper our ability to remain competitive and reinvest in jobs, new energy technologies and resources in the United States and internationally."

So basically, this scumbag (along with plenty of his supporters in Washington) has turned the idea of ending $4 billion worth of subsidies for a mature and profitable industry into “additional taxes.” Can you believe the stones on this guy?

Then he claims that these “additional taxes” or as we like to call them, unnecessary uses of your tax dollars, will hamper the oil industry's ability to reinvest in new energy technologies. Is it just me, or does it seem a little ridiculous to expect all of us to pay for the oil industry to develop new technologies? These guys made $32 billion in profits in the first quarter of this year alone. And they need your money in order to remain competitive?

I don't know who's buying what these worms are selling – but every single poll shows that most Americans want the Big Oil welfare to end now.

The only folks backing them up are the bureaucrats in Washington who live and die by those fat campaign contributions from the Big Oil machine.

And don't kid yourself, both sides of the aisle are more than happy to take that filthy lucre.

Last week I gave you a list of 28 politicians who combined have received more than $4 million from Big Oil. And these 28 politicians just recently announced a new energy coalition that claims it has the solutions to our energy problems

It doesn't take a rocket scientist to figure out which “solutions” they'll be supporting.

Now while all 28 of those sellouts are republicans, the democrats also have their fair share of prostitutes bending over for the oil company with the biggest check.

Just recently democratic senators Mark Begich and Mary Landrieu had a temper tantrum over their party's attempts to end Big Oil's free ride.

Landrieu said is was “unfair” and that ending these welfare checks would not reduce gasoline prices by one penny.

Interestingly, that was never the point. And she knows it. It's not about reducing the price of gasoline. Thanks to the basic fundamentals of supply and demand, you can kiss that pipe dream goodbye. And I say good riddance!

No, this is about no longer expecting the oil companies to do business on the backs of hard-working American tax payers.

For the record, both Landrieu and Begich represent Louisiana and Alaska, respectively. Nah, oil money has nothing to do with their motives.

I hope we all remember who voted to end these subsidies when election-time rolls around!