Stop Billions in Tax Giveaways to Big Oil
Putting America on a path toward a cleaner energy future has to start with ending subsidies to Big Oil.
Oil companies are making HUGE profits. Exxon Mobil leads the pack, earning more than $10 billion in the first three months of 2011. BP, scarcely a year after being partly responsible for the worst oil spill disaster in U.S. history, made more than $7 billion in earnings, despite trying to hold back research money into how extensively the shellfish industry has been harmed by the spill.
While Congress continues to throw $4 billion every year to oil companies in tax giveaways -- they're cutting safety net programs for Americans hit hardest by our tough economy.
This is the same industry that fights safety inspections, complains about environmental safeguards critical to protecting wildlife refuges and community water supplies, pressures Congress to gut environmental laws and blocks attempts to ensure that the taxpaying public gets fair value through royalties when they exploit our public lands.
The case for subsidies is made even weaker when you consider gas prices are skyrocketing because of unrest in the Middle East. That translates into big profit margins for Big Oil.
Severe cuts to environmental protection programs, education and programs like Medicare are being threatened in Congress's budget negotiation -- there's no place for the oil industry giveaways that cost taxpayers $40 billion every decade.
Take action now and help put an end to these indefensable subsidies -- tell your lawmaker in Congress that you want these handouts to profitable oil companies to stop.
Big oil companies reported HUGE profits -- Exxon Mobil led the pack, earning more than $10 billion in the first three months of 2011. BP made more than $7 billion in earnings.
The case for subsidies is made even weaker when you consider gas prices -- and oil company profits -- are skyrocketing because of unrest in the Middle East.
It is unconscionable to continue to give $4 billion to oil companies in tax giveaways while American families suffer through a hard economy, and safety net programs are being slashed.
Please vote to end these indefensible subsidies.