Big Oil Subsides

I believe joe bloe is really Governor Goodhair and the above referenced quote has the makings of another of those infamous "Oops" moments!

Now if my Guv could just remember the other two department's that should be shut down! Originally Posted by bigtex

We should be shutting down every federal agency that can't be justified by the constitution. If we think we have to have a federal agency that isn't justified by the constitution then we should amend the constitution.

We obviously have more federal government than we can afford; why not economize by actually abiding by the constitution? After all, all of our elected representatives have already sworn to do so.

It's a whacky idea, asking a politician to keep his word.

I've been looking for a site which details the subsidies Big Oil gets, but I can't find one. It might add to the conversation if we knew what they were getting in subsidies, and what they are using as deductions.

The number used to be FIVE billion is subsidies, how'd it climb to TEN billion?

If any of you do not think big oil gets huge tax breaks then I wil pay you amillion dolllars when you br8ing me the head of bigfoot

I've been looking for a site which details the subsidies Big Oil gets, but I can't find one. It might add to the conversation if we knew what they were getting in subsidies, and what they are using as deductions. Originally Posted by CuteOldGuy

youve been looking?

http://archive.greenpeace.org/climate/oil/fdsub.html

Those figures are almost 20 years old, CBJ7, but that is more what I'm looking for. I'd like to see some current information.

If the oil companies are just getting tax deductions the same as any other business, I don't care, but I suspect they are getting substantially more than other business, and I'd like to know what they are. The Greenpeace link is helpful, but out of date.

you wanted a breakdown didnt you?

there it is

no problem with this. corporate welfare needs to end. Originally Posted by dilbert firestorm

Obama just announced he is working to end the oil subsidies.

http://www.nytimes.com/2012/03/02/us...companies.html

http://www.window.state.tx.us/specia...dex.php#oilgas

Obama just announced he is working to end the oil subsidies.

http://www.nytimes.com/2012/03/02/us...companies.html Originally Posted by Sexyeccentric1

Yeah. Right. Like he was going to close Gitmo, cut the deficit in half, and run the most transparent administration in history.

it boils down to Exxon et al posting consecutive $12 BILLION dollar quarterly earning reports and still taking advantage of federal subsidies paid for by TAXPAYERS

it strikes me funny the lawmaking right wingers have a HUGE problem with incorporating BC into insurance programs at other peoples expense, and dweebs like Lush Bimbo always fail to call big oil SLUTS, but have little problem dishing out OUR $ and pandering to the mega $$ oil boys.

it boils down to Exxon et al posting consecutive $12 BILLION dollar quarterly earning reports and still taking advantage of federal subsidies paid for by TAXPAYERS

it strikes me funny the lawmaking right wingers have a HUGE problem with incorporating BC into insurance programs at other peoples expense, and dweebs like Lush Bimbo always fail to call big oil SLUTS, but have little problem dishing out OUR $ and pandering to the mega $$ oil boys. Originally Posted by CJ7

Jeffrey Immelt is Obama's lap dog and CEO/Chairman of General Electric. GE makes billions in profits and pays literally nothing in taxes. Obama named Immelt to head his "panel of outside economic advisors".

http://www.nytimes.com/2011/03/25/bu...pagewanted=all

http://www.bloomberg.com/news/2011-0...e-volcker.html

If Bush had been in this sort of situation, the press would have crucified him. Congress would have investigated.

Dayuum joe .. I had no idea GE was a major oil production company.


thanks for that intel !!

If the so called US government takes away these "SO CALLED" tax breaks to
oil company's that drill our nations supply of fuel...you think 4.00 a gallon is
expensive? Just wait the prices will slowly slowly rise to unprecidented highs
in the 6-7 dollar range. Look at current prices in Europe...they have been paying
4.00 plus for years.

Jeffrey Immelt is Obama's lap dog and CEO/Chairman of General Electric. GE makes billions in profits and pays literally nothing in taxes. Obama named Immelt to head his "panel of outside economic advisors".

http://www.nytimes.com/2011/03/25/bu...pagewanted=all

http://www.bloomberg.com/news/2011-0...e-volcker.html

If Bush had been in this sort of situation, the press would have crucified him. Congress would have investigated. Originally Posted by joe bloe

enter the kryptonite

No crosses, no investigation ..


the American Jobs Creation Act — was signed into law by President George W. Bush in 2004, it contained more than $13 billion a year in tax breaks for corporations, many very beneficial to G.E. One provision allowed companies to defer taxes on overseas profits from leasing planes to airlines. It was so generous — and so tailored to G.E. and a handful of other companies — that staff members on the House Ways and Means Committee publicly complained that G.E. would reap “an overwhelming percentage” of the estimated $100 million in annual tax savings.
According to its 2007 regulatory filing, the company saved more than $1 billion in American taxes because of that law in the three years after it was enacted.



gee, imagine that.