Big Oil and Bad Habits

[Shallah Kali]

Run time: 03:56 https://www.youtube.com/watch?v=Kow0KR9ffZo   Posted on YouTube: April 17, 2015 By YouTube Member: YouTube Help Views on YouTube: 12180171   Posted on DU: March 02, 2007 By DU Member: Shallah Kali Views on DU: 364

 
Kick The Oil Habit
Stop The Subsidies
http://www.kicktheoilhabit.org

America can reduce our dependence on oil, protect the environment and create jobs by investing in the clean energy solutions of the future. Unfortunately, federal dollars continue to flow toward the same oil companies who are earning record profits and fueling our oil addiction. According to an analysis produced by Friends of the Earth, oil companies are slated to receive more than $31.6 billion in handouts from taxpayers over the next five years. This figure includes tax benefits, royalty relief, research and development subsidies and accounting gimmicks which benefit the oil industry. It could dramatically increase over the next 25 years if current tax breaks are extended and if an estimated loss of up to $60 billion in royalty revenue from offshore drilling occurs. Congress should act immediately to end these giveaways to the oil and gas industry.

Big oil companies are swimming in a sea of record-breaking profits while American consumers and taxpayers pay the price. In 2005, the world's biggest oil companies reported a combined $111 billion in profits. In the first three quarters of 2006 they reported more than $94 billion

More at http://www.kicktheoilhabit.org/aboutsubsidies.php


Personally I would like it if the government would use nice chunk of that money to increase the energy efficiency of all federal, state, and local buildings plus put solar power in on every suitable building not just put it into clean energy research. especially when part of the gov. is determined to put money into boondoggles like ethanol (created in refineries powered by coal) and so-called clean coal (because who can't help but love more mercury lowering everyone's IQ). but that's just my pitiful 2 cents.