End the subsidies on big oil and gas now!

So today the Senate had a fillibuster against ending oil subsidies. The Rachel Maddow Show is explaining it right now.

What I find highly offensive is that the oil industry made $32 Billion in profit last year. Let me explain in accounting terms:

Revenue – Expenses = Profit. $32 Billion. So explain to me why the oil companies still need subsidies from the government?

I’ve written before about why gasoline costs so much. It is because the entire system from exploration  to extraction, to refining is all tightly controlled by just a handful of companies.

It’s time we the people take our country back.

 

2 thoughts on “End the subsidies on big oil and gas now!

    1. The Swedish government has 67% ownership of Statoil – a public company. The goverment profits have entirely funded (very generous – cradle to grave) national retirement and medical care
      programs and completely eliminated the national debt.
      Like the other public oil companies, Statoil bids against everyone else for it’s concessions. The goverment gives them no special treatment. They now own, globally, huge reserves. Major player in the Gulf of Mexico, Bakken Formation, Canadian Oil Sands, Brazil, etc., etc.
      Be nice if the US were as smart as the Swedes. Never happen. It makes too much sense. What politician would take on Big Oil?Can you imagine the money that will be made from US Gov’t owned land in the Bakken Reserves and in other Western States?
      Strangely almost all of the countries that have major oil reserves also have a government owned oil company. Duh.

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