Right now, the biggest oil companies are raking in record profits—profits that go up every time folks pull up into a gas station. But on top of these record profits, oil companies are also getting billions a year—billions a year in taxpayer subsidies—a subsidy that they’ve enjoyed year after year for the last century.
Think about that. It’s like hitting the American people twice. You’re already paying a premium at the pump right now. And on top of that, Congress, up until this point, has thought it was a good idea to send billions of dollars more in tax dollars to the oil industry.
President Obama this morning on why we’ve got to end subsidies for Big Oil (via barackobama)
I can never understand why the oil industry needs subsidies.
