Friday, January 27, 2012

Big Oil Pumps Up Profits with Americans’ Cash

Big Oil Pumps Up Profits with Americans’ Cash: "high prices at the pump are only part of Americans’ Big Oil bill. They also pay more than $4 billion in unnecessary tax subsidies for domestic oil drilling and production every year. "

'via Blog this'

Monday, January 23, 2012

US Federal Gas and Oil Direct Subsidy

It is impossible to determine exactly how much taxpayer money is dished out just to the oil & gas industry alone. The reason is painfully obvious; our elected officials, and certainly the industry, don’t want the public to know how much it is; they would prefer we didn’t even know it exists. But many organizations and individuals have attempted to do so with limited success. That said, it seems that the general consensus averages’ around $24 billion each year in both direct payouts and Tax Expenditures, with the top number at about $37 billion.