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.