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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (8780)5/31/2009 10:06:20 AM
From: RetiredNow  Read Replies (1) | Respond to of 86356
 
You are misquoting them. Oil gets far more in tax breaks and subsidies that $1 billion per year. You know that. The are simply talking about legislation that is targeting $1 billion of the multi-billions they receive in subsidies and breaks in any year.



To: Hawkmoon who wrote (8780)5/31/2009 1:06:43 PM
From: Brumar89  Read Replies (1) | Respond to of 86356
 
I love when people undercut their own arguments:

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.


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