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Politics : Politics of Energy
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To: RetiredNow who wrote (8775)5/31/2009 2:30:18 AM
From: Hawkmoon1 Recommendation  Read Replies (2) of 86356
 
Btw, the article you posted just blasted holes in your theory that the oil industry receives tremendous gov't subsidies:

The energy tax package would have closed tax breaks for big oil that are worth slightly more than $1 billion annually.

The big five oil companies made over $123 billion in net profits in 2007; the closed loopholes would be less than one percent of their 2007 profits.

And presumably even far less than their total revenues.

Hawk
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