The USA needs incentives, subsidies for alternatives fuels to bring losses for start up markets into alignment with other established markets. These are the most immoral subsidies the USA has ever engaged in with a longevity during the entire petroleum market. This industry is well established and does not need subsidies. This is ridiculous already. These monies are better spent elsewhere, INCLUDING, the USA Debt which would be served with $41 billion in 10 years with the elimination of the oil payoffs.
Currently, the petroleum industry is overfilling their coffers with USA oil that is exported. There is no reason for USA oil to be exported, it should be used to bring down the prices at the gas pump, but, that is not the way it is being used. USA oil, the most intense market on the planet, is entering the global market and exported. There is no prudent protections for future generations to have such natural resources available. High commodity prices and the greed of pumping, while receiving incentives to do exactly that, is counter to our national security.
Oil industry launches full-court press against Senate bill repealing tax breaks
03/26/12 10:35 AM ET
The oil industry launched a full-court press Monday in opposition to Democrat-backed legislation that would repeal billions in tax breaks for the largest oil companies.
The American Petroleum Institute (API), the powerful oil industry trade group, is running an eight-state radio and print advertising campaign opposing efforts to eliminate the tax breaks....
The American Petroleum Institute (API), the powerful oil industry trade group, is running an eight-state radio and print advertising campaign opposing efforts to eliminate the tax breaks....
