Treehugger.com has an interesting post on President Obama becoming ever more vocal in his calls for oil companies to lose their tax breaks and governmental subsidies. While it can be certain that the President's recent increase in intensity and frequency in the call to eliminate these subsidies can be traced to this being an election year, it is a really good time to end this absurdly long "free-ride" that oil has received from the government.
Oil subsidies for the companies that drill and refine our fuel source made sense when the companies were beginning. However, oil and gas companies (and coal) have done so well for the last many decades that it is an insult to regular citizens such as you or I, to watch them make record profits every single year and pay significantly less in taxes, plus get additional money from the government on an annual basis. It is a slap in the face.
Meanwhile, oil and gas companies are working hard to convince the Legislature and the President to eliminate tax breaks and subsidies for the emerging clean alternative fuel companies. They, however, insist on keeping their tax breaks, by throwing around the scare tactic that gas prices will jump sky high at the pumps. The hypocrisy and the lies are unbelievable. If this wasn't such a normal routine, I would think this was out of some fictional story.
The President may be ramping up his rhetoric for his own benefit, but I'm one who agrees that oil subsidies and tax breaks have got to stop. The fossil fuel companies have long made profits at our expense. They don't need the government's help. We need a government that encourages responsible use of our natural resources and promotes companies that serve our needs and treat all environments with a bit of respect. If the President's rhetoric actually leads somewhere productive, I would say it's a campaign promise kept.
Oil subsidies for the companies that drill and refine our fuel source made sense when the companies were beginning. However, oil and gas companies (and coal) have done so well for the last many decades that it is an insult to regular citizens such as you or I, to watch them make record profits every single year and pay significantly less in taxes, plus get additional money from the government on an annual basis. It is a slap in the face.
Meanwhile, oil and gas companies are working hard to convince the Legislature and the President to eliminate tax breaks and subsidies for the emerging clean alternative fuel companies. They, however, insist on keeping their tax breaks, by throwing around the scare tactic that gas prices will jump sky high at the pumps. The hypocrisy and the lies are unbelievable. If this wasn't such a normal routine, I would think this was out of some fictional story.
The President may be ramping up his rhetoric for his own benefit, but I'm one who agrees that oil subsidies and tax breaks have got to stop. The fossil fuel companies have long made profits at our expense. They don't need the government's help. We need a government that encourages responsible use of our natural resources and promotes companies that serve our needs and treat all environments with a bit of respect. If the President's rhetoric actually leads somewhere productive, I would say it's a campaign promise kept.
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