Tag Archives: American Petroleum Institute

Big oil tax subsidies: $9 billion / year —API

After last night’s Valdosta City Council meeting, someone told me he thought all renewable energy sources required subsidies, and that was the problem. Well, I think the real problem is the much larger subsidies to big oil.

Dan Froomkin wrote in huffpo How The Oil Lobby Greases Washington’s Wheels:

Despite astronomical profits during what have been lean years for most everyone else, the oil and gas industry continues to benefit from massive, multi-billion dollar taxpayer subsidies. Opinion polling shows the American public overwhelmingly wants those subsidies eliminated.
That’s at least $4 billion a year to big oil while Congress debates cutting Social Security and Medicare and maybe shutting down the government. According to the American Petroleum Institute (API), Continue reading