Budget deficits, government shutdowns, cost-savings — these are the terms of the debate. And yet, such terms are no more than meaningless rhetoric and those who use such terms are disingenuous at best if they are not willing to look at obvious opportunities to address our current economic woes. Huffington Post blogger Dan Froomkin in consult with Public Citizen’s energy program director, Tyson Slocum, and others published a damning piece on oil price shenanigans, misinformation campaigns and the corporate tax breaks big oil companies continue to get. He writes,
Despite astronomical profits during what have been lean years for most everyone else, the oil and gas industry continues to benefit from massive, multi-billion dollar taxpayer subsidies. Opinion polling shows the American public overwhelmingly wants those subsidies eliminated. Meanwhile, both parties are hunting feverishly for ways to reduce the deficit.
Those beholden to big oil love to fear monger but the reality is eliminating these massive tax breaks would not eliminate the demand or desire to drill for more oil or frack for more natural gas.
Froomkin continues quoting Public Citizen’s Tyson Slocum saying,
‘With prices around $100 a barrel, it is asinine to suggest that $4 to $6 billion a year collectively is driving decisions about whether or not to pursue extraction opportunities in the U.S.,” he said. ‘It is market prices that are driving investment decisions.’
Read and share your comments on the blog post by Froomkin entitled, “How the Oil Lobby Greases Washington’s Wheels”
Learn more about how companies like BP are continuing to influence the very politicians who are more amendable to government shutdowns than eliminate big oil subsidies by visiting this page where you can get involved and take action today!