Truthdig - Tag - Subsidy

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Tag: Subsidy

AP / Petty Officer 2nd Class Scott Lloyd, U.S. Coast Guard

Oil Companies Awash in Subsidies

As the government weighs a tax on petroleum production to help pay for the Gulf spill cleanup—and as oil companies cry foul—a quick analysis of the U.S. tax code shows the oil industry to be one of the country’s most heavily subsidized.

Posted on Jul 4, 2010 READ MORE | 2 COMMENTS

Small Miracle: House Votes Against Oil Subsidy

In this time of record profits for oil companies, the House approved a measure to withdraw a $7-billion subsidy over the next five years. Unbelievably, 165 Republicans wanted to let the oil companies keep the public’s money.