I keep hearing that big oil gets all kinds of governmental subsidies. Can anybody give any specific examples? Or is this more of a myth that people eventually believe is "truth" because it is repeated again and again? Give me some hard evidence, please, of current subsidies received by specific oil companies, including the dollar value of the subsidy, and a link to the source of your information. Thanks.
this is a Republican point of view talking about the Dem congress cutting oil subsidies…
http://www.cato.org/pub_display.php?pub_id=7066
if you want to go digging around in the fed budget for the actual line items… go crazy… but I’m not that bored…
the congress and the president sure do talk about them a lot for something that you don’t think exists though
November 24th, 2009 at 5:45 pm
it means govt helps the oil companies recover part of their cost like thru tax incentives ( tax credit, discounts or lesser tax ) and other grants that are within the sphere of govt regulation. in theory, this should prod the oil companies not to pass on to the consumers their cost thru higher oil prices at the pumps. but the govt can only subsidize so much and for a limited time. besides, govt money is people’s money raised thru taxation so that tax money channelled to oil co. subsidies are basically taking it away from other public use like health, education etc. its like plugging too many holes in a leaking dam.
References :
November 24th, 2009 at 6:03 pm
Oil Companies do get a few tax breaks.
Like being able to write off the cost of their research into alternative fuels.
References :
November 24th, 2009 at 6:19 pm
this is a Republican point of view talking about the Dem congress cutting oil subsidies…
http://www.cato.org/pub_display.php?pub_id=7066
if you want to go digging around in the fed budget for the actual line items… go crazy… but I’m not that bored…
the congress and the president sure do talk about them a lot for something that you don’t think exists though
References :