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GasBuddy News Article

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Fossil-fuel subsidies: Helping the richest get richer

Los Angeles Times -- Last week, the Senate voted on a proposal by New Jersey Sen. Robert Menendez to end some of the billions of dollars in handouts enjoyed by the fossil-fuel industry. The Repeal Big Oil Tax Subsidies Act was a curiously skimpy bill that targeted only oil companies, and just the five richest of them at that. Left out were coal and natural gas. Even so, the proposal didn't pass.

But that hasn't stopped President Obama from calling for an end to oil subsidies at every stop on his early presidential-campaign-plus-fundraising blitz. And this month Vermont Sen. Bernie Sanders will introduce a much tougher bill that tackles all fossil fuels and their purveyors.


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Submitted Apr 07, 2012 By: eromitlab
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Fossil-fuel subsidies: Helping the richest get richer Back to Topics
REPLIES (newest first) Post a Reply
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bicycle1966
All-Star Author Akron

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Message Posted: Apr 7, 2012 7:55:35 AM

I'd rather see the money go to alternatives -- yes even if it means a few Solyndras -- to help them get established -- than to companies that are well established and reaping record profits.
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pscamp
Champion Author Ottawa

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Message Posted: Apr 7, 2012 7:49:44 AM

Sigh.....
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Joeski1
Champion Author New Jersey

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Message Posted: Apr 7, 2012 7:43:23 AM

this outfits should pay the same stinking 30% across the board that I have to pay with the same no loop holes I get....

I'd be okay with that....
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bar1035
Champion Author Charlotte

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Message Posted: Apr 7, 2012 7:39:49 AM

funny how tax code is now called subsidies .

anyway, better for all drivers to pay than all taxpayers... bigger pool.
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dave27johnson
Champion Author Chicago

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Message Posted: Apr 7, 2012 7:38:03 AM

Subsidies always need to be reviewed as conditions change. The industry gets $10 billion and $40 billion annually to make historic profits.

[Edited by: dave27johnson at 4/7/2012 7:38:32 AM EST]
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scu227
Champion Author New Haven

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Message Posted: Apr 7, 2012 7:27:44 AM

The oil companies are earning record profits, so why do we need to subsidize them. They are already squeezing every last time out of our wallets and then want our tax dollars too!!
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skippypa
Champion Author Hawaii

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Message Posted: Apr 7, 2012 7:21:28 AM

The oil companies are not passing on their savings from the subsidies to the consumer!!!!!!!!!!!!1
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FPLREP
Champion Author Virginia

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Message Posted: Apr 7, 2012 7:17:13 AM

Do we really want to tax more with this administration? Look at their track record on spending. Solyndra, fisker....
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daequitz
Champion Author New Jersey

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Message Posted: Apr 7, 2012 6:59:59 AM

Not right.
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JohnofGB
Champion Author Flint

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Message Posted: Apr 7, 2012 6:42:29 AM

Their is no logical reason for this misuse of taxpayer dollars.
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mike1881
Champion Author Fayetteville

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Message Posted: Apr 7, 2012 6:35:34 AM

I am tired of the class warfare. The rich got rich because of opportunities and hard work. The ones that complain I bet are happy having a job with no responsibilities, or no job at all. Here's an idea-- instead of complaining about the rich, go work hard to make extra money. That is what is great about America, everyone has an opportunity to be what they want.
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yardslave
Champion Author Oklahoma City

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Message Posted: Apr 7, 2012 6:33:45 AM

Ok
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Luckylindy
Champion Author Milwaukee

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Message Posted: Apr 7, 2012 6:32:46 AM

Obummer's class warfare.
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WalRus49
Champion Author Boston

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Message Posted: Apr 7, 2012 6:25:21 AM

More organized mayhem and pillage..............
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fjkcpa
Champion Author Houston

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Message Posted: Apr 7, 2012 6:03:24 AM

Keep on drilling, but don't keep Nobama.
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LauraLea5
All-Star Author Ontario

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Message Posted: Apr 7, 2012 5:56:41 AM

end oil subsidies...
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humblepie
Champion Author Toledo

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Message Posted: Apr 7, 2012 5:12:28 AM

and employing millions, dont forget that part.
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dorisntx
Champion Author Fort Worth

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Message Posted: Apr 7, 2012 5:02:51 AM

ok
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bills299
Champion Author Atlanta

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Message Posted: Apr 7, 2012 4:51:39 AM

Sure it is!!
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Pozole
Champion Author Portland

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Message Posted: Apr 7, 2012 4:31:51 AM

...SICK, SAD AND SICK...
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Amplion
Champion Author Oregon

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Message Posted: Apr 7, 2012 4:17:20 AM

BAN ALL SUBSIDIES !!!
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SilverDodge2000
Champion Author Spokane

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Message Posted: Apr 7, 2012 3:54:53 AM

First of all the government shouldn't do subsidies or grants to any one or any company.

Second, one small group of person own these companies. They are owned by our 401k's, union retirement accounts, and local or state retirement accounts among other similar investors. Do you really want these companies to fail when everyone money is tied up in them?
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OHMS
Champion Author Orange County

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Message Posted: Apr 7, 2012 3:53:17 AM

These five rules don't get at the biggest subsidy we give the fossil-fuel business: the right to pour their waste into the atmosphere for free. But they would be a start, a statement that we no longer will be played for suckers and saps. There's just no reason to hand the richest industry on Earth a bonus to help them wreck the planet.
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TRYWI
All-Star Author Appleton

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Message Posted: Apr 7, 2012 3:39:50 AM

good
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MidNJ
Champion Author New Jersey

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Message Posted: Apr 7, 2012 3:23:28 AM

From the article;

"Don't subsidize those who already have plenty of cash on hand."

!!!!!!!!!!!!!!!!!!!

Seems logical to me.
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LiberalHypocrit
All-Star Author California

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Message Posted: Apr 7, 2012 2:49:45 AM

Wow, yet another Big Oil hit piece that is either unwilling or unable to specifically identify the "tax subsidy" given to oil companies. The article even states "But bring yourself to focus on fossil-fuel subsidies for just a minute, and you will realize just how loony our policy is." The very next line it gives an example about education because they can't give an example about ACTUAL OIL TAX SUBSIDIES. The reason they can't give an example of an actual oil "tax subsidy" is because they don't exist. The left simply wants to impose higher taxes SPECIFICALLY on oil to discourage continued use of fossil fuels and raise their prices,thus making renewable energy more competitive. And that's not my interpretation that is what Obama and his energy secretary have told us many times they want to do. By the Left's own admission "you subsidize something you want to encourage" and TAX something you want to discourage, like cigarettes.

The author even has the gall to reference Solydra at least twice and then breaks out the rule "Don't give subsidies to people who have given you cash." When it has been proven that one of Obama's largest fund raisers was a prime investor in Solyndra and even worked out a special deal with the government for him and other investors to be repaid ahead of the government in case of bankruptcy. DOES LIBERAL HYPOCRISY KNOW NO BOUNDS???

And the typical "I can't think for myself" Liberal in these forums just goes along with the crowd in believing these big oil "tax subsidies" are the source of their pain and high prices at the pump. Just be careful what you wish for Mensas.
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fats58
Rookie Author Phoenix

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Message Posted: Apr 7, 2012 2:44:24 AM

k
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thirstyauto
Champion Author Milwaukee

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Message Posted: Apr 7, 2012 2:25:36 AM

One wonders if there were no subsidies where the gas prices would be, and would development still continue?
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gazprize
Veteran Author Toronto

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Message Posted: Apr 7, 2012 2:22:26 AM

richie rich
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gazprize
Veteran Author Toronto

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Message Posted: Apr 7, 2012 2:20:23 AM

its all abt rich getting richer
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Apr 7, 2012 2:19:45 AM

Sounds like the rich were smart and invested wisely and are reaping their rewards. The American dream. If anyone of us did the same thing we wouldnt want to be penalized for our good fortune.
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HA4CNN
Champion Author Toronto

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Message Posted: Apr 7, 2012 2:19:41 AM

That is the way the cookie crumbles in this socialist society.
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jackson661
Champion Author Columbus

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Message Posted: Apr 7, 2012 2:15:08 AM

Simply this "Don't subsidize those who already have plenty of cash on hand".
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MN1
Champion Author Twin Cities

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Message Posted: Apr 7, 2012 2:13:35 AM

Rich get richer and the poor get poorer.
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jtfftj
Champion Author New Hampshire

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Message Posted: Apr 7, 2012 2:13:20 AM

Ya, Ya, Ya.
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RickF350
Champion Author Washington

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Message Posted: Apr 7, 2012 2:12:21 AM

Yeah, That would lower gas prices..NOT!
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vulcan96
Champion Author Ohio

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Message Posted: Apr 7, 2012 2:11:30 AM

out law lobbyists while you are at it and expel any politician that takes a bribe.
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Dragnet
Champion Author Arizona

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Message Posted: Apr 7, 2012 2:09:45 AM

Lining their pockets with our gold
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nozzle46
Champion Author Little Rock

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Message Posted: Apr 7, 2012 2:09:14 AM

If you're making money hand over fist you don't need incentives.
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btex49
Champion Author Austin

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Message Posted: Apr 7, 2012 2:08:29 AM

A little austerity wouldn't hurt Congress as well and government in general. I am outraged that the GSA spent $800,000 plus on a conference in Las Vegas that was nothing more than a waste of money...

By the way, define "subsidies"... do you mean subsidy or tax deductions? The American public is being sold a bill of goods by the president and government in general.
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Rageagainsttm
Champion Author Tampa

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Message Posted: Apr 7, 2012 2:04:11 AM

sure
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MidNJ
Champion Author New Jersey

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Message Posted: Apr 7, 2012 2:03:06 AM

Jeff, you posted;

"The U.S. government rakes in billions on oil companies - much more money than the actual profit earned by the oil companies, who by the way risk billions in research and development." . . .

??????????????

Please substantiate your numbers, because they are way out of wack!
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g747
Champion Author Mobile

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Message Posted: Apr 7, 2012 2:02:58 AM

We're not dumb!!!!! the taxpayer knows who & what big oil is, & will pay-off lawmakers via lobbyist to get their business as usual ways!!!!!.
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viperND
Champion Author South Bend

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Message Posted: Apr 7, 2012 1:53:22 AM

!@#$
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eppylover
Sophomore Author Grand Rapids

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Message Posted: Apr 7, 2012 1:53:03 AM

Wishing them luck this time. Go get em, Bernie.
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cbuck80
Champion Author Massachusetts

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Message Posted: Apr 7, 2012 1:49:27 AM

ok
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furiousfowl
Champion Author Riverside

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Message Posted: Apr 7, 2012 1:47:03 AM

always someone else
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Jeff4U
Champion Author Atlanta

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Message Posted: Apr 7, 2012 1:43:30 AM

The U.S. government rakes in billions on oil companies - much more money than the actual profit earned by the oil companies, who by the way risk billions in research and development.

Subsidies paid out in 2011:
16 billion to green fantasies
6 billion to ethanol business
2.5 billion to the oil industry
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MidNJ
Champion Author New Jersey

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Message Posted: Apr 7, 2012 1:42:33 AM

From the article;

"Most of the men and women in Congress who vote each year to continue subsidies have taken campaign donations from big energy companies. In essence, they've been given small gifts by outfits to whom they then return large presents, using public money, not their own. . . "

!!!!!!!!!!!!!

WOW!
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aquarinut
Champion Author British Columbia

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Message Posted: Apr 7, 2012 1:39:03 AM

"Don't subsidize those who already have plenty of cash on hand."

Kinda like those who buy higher end EV's!!!

LA Times.... pot calling the kettle black.

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