Friday, June 18, 2010

Big Oil: A Big Mature, Extremely Profitable Industry That Needs Subsidies


Peter Welch [D-VT]:
"The question for Congress, and I’m going to ask you to comment on this, is whether we’re at a point where taxpayers are being well served when taxpayers are continuing to provide subsidies for a business as usual energy policy that’s based on a carbon energy, 19th century approach, versus a clean and renewable fuel policy of the 21st century that we need. And the question, really, is should taxpayers of the United States continue to provide billions of dollars in subsidies to an industry, the oil industry, that’s mature, to an oil industry that’s extremely profitable?"
Corporate welfare "yes", help for individuals "no". Congress blows.

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