Monday, May 16, 2011

Reducing Oil Company Subsidies: Unamerican?

Photo from Cnn. the middle CEO is from Conoco Phillips
Last week, the CEO from Conoco/Philips said reducing the oil Industry  subsidies would be "unamerican".
In the history of companies on our planet, there has never been a more profitable industry, ever, than today's oil companies.  These subsidies were instituted when the price of oil was less than 50 dollars a barrel.  Today with prices well over a 100 dollars a barrel  oil companies need tax payer subsidies?  Really?  We're cutting Head Start and nutrition programs for low income families and these guys need a 4 billion dollar subsidy every year?

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