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GasBuddy News Article

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By the Numbers: $4 Billion

WhiteHouse -- Oil companies receive $4 billion every year in taxpayer-funded subsidies, despite continually bringing in record high profits. Meanwhile, gas prices are on the rise—just like they were this time last year—and the same people funding those subsidies are paying more at the pump for the gas they need to get to school and work.

In his State of the Union, President Obama introduced an all-of-the-above strategy that develops every available source of American-made energy. This includes everything from tapping our offshore oil supplies and vast natural gas reserves, to doubling down on clean energy resources like wind and solar power, to developing new technologies that help us use less energy altogether.


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Submitted Mar 26, 2012 By: RickythePilot
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: By the Numbers: $4 Billion Back to Topics
REPLIES (newest first) Post a Reply
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bruin19MD
Champion Author Maryland

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Message Posted: Mar 27, 2012 12:58:04 PM

yup
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Jarol
Champion Author Iowa

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Message Posted: Mar 27, 2012 12:56:57 PM

The federal government takes a lot of our money on every gallon we buy. They work against the private oil companies but have to keep them going because they are addicted to the income.
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Eugene_C
Champion Author Columbus

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Message Posted: Mar 27, 2012 9:16:01 AM

They stopped ethanol subsidies, but kept oil. Who would have guessed oil ran the gubermint?
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tedjm1
Champion Author New York

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Message Posted: Mar 26, 2012 11:18:43 PM

STOP THE SUBSIDIES.
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Bonito
Champion Author Dayton

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Message Posted: Mar 26, 2012 11:17:26 PM

Clean them up president Obama!
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Rooster922
Champion Author Wilmington

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Message Posted: Mar 26, 2012 11:16:13 PM

It takes time to mature, people wants it yesterday.
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bikechuck
Champion Author Indianapolis

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Message Posted: Mar 26, 2012 11:16:07 PM

More white house blather.
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judgemobile
Champion Author Ohio

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Message Posted: Mar 26, 2012 11:15:57 PM

4 billion = 4 THOUSAND MILLON--I could live on the interest alone, even at today's poor rates, for decades, maybe longer.
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billk44077
Champion Author Cleveland

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Message Posted: Mar 26, 2012 11:13:23 PM

Lobbyist payoffs
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 26, 2012 11:12:27 PM

Why are they still getting the subsidies?????
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BobD2009
Champion Author Long Island

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Message Posted: Mar 26, 2012 11:09:32 PM

All subsidies should be abolished.
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Blue48
Champion Author Illinois

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Message Posted: Mar 26, 2012 7:58:02 PM

WONDER WHAT WILL HAPPEN, BETWEEN NOW & NOVEMBER 6TH!
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bar1035
Champion Author Charlotte

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Message Posted: Mar 26, 2012 11:45:12 AM

Geez, can you find anything more partisan than a White House press release?

If ever the NN button was needed....
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Van_Halen
Champion Author Atlanta

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Message Posted: Mar 26, 2012 11:15:44 AM

.
Another Omaba Lie! Most of the breaks to Oil Companies come in the form of Tax Deductions not Subsidies, more over why shouldn't they get some breaks when their industry PAYS the most taxes!

Exxon alone pays over One Million Dollars an HOUR in taxes which came out to 9.2 Billion Dollars in taxes paid in 2011! This does not include the money they collect for the State, Local, and Federal Governments in taxes on each gallon of gasoline sold. This is also just an example of one Oil Company, so I think $4 Billion in tax breaks spread over many Companies that on average each pay OVER $10 Billion a year in Federal Taxes really isn't a big deal when Obama is giving $1.2 Billion to GE alone without paying ANY taxes and $6.7 Billion to Obama Motors also without paying ANY taxes. How about ending those completely taxpayer funded tax breaks!

The Liar in Chief hard at work thinking who to blame so we will stop looking at all the money he gives and throws away!
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jimgraham
Champion Author Akron

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Message Posted: Mar 26, 2012 11:05:43 AM

Mature industries should not need subsidies in any way, shape or form. The oil companies are definitely in a very mature industry.
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YaBassa
Champion Author Michigan

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Message Posted: Mar 26, 2012 11:02:51 AM

Remove all subsidies for Greedy Big Oil
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doctorindyj
Champion Author Santa Fe

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Message Posted: Mar 26, 2012 9:51:03 AM

Get rid of all subsidies. Especially with the national debt out of control. The problem is the current regime will take it from one group and give it to another. The only difference between the parties is where the money goes.
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Gas_Eyes
Champion Author Dallas

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Message Posted: Mar 26, 2012 8:38:47 AM

The government should give us more details about what the $4 billion is about. Some may be needed, and some may be wasteful. Just blaming big oil companies is plain politics. Is it all going to big oil companies?
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Cheepo
Champion Author Tampa

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Message Posted: Mar 26, 2012 8:30:40 AM

The government makes more profit on energy than the oil companies do without lifting a finger!!!
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ReddevilNO
Champion Author New Orleans

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Message Posted: Mar 26, 2012 7:40:09 AM

Oh my!
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danlanman
Champion Author North Carolina

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Message Posted: Mar 26, 2012 7:39:51 AM

stop the subsidies
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Gman2011MI
Champion Author Michigan

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Message Posted: Mar 26, 2012 7:39:33 AM

Cut THE CRAP either do something about the prices of fuel or pack your bags because that is going to make or break OBAMA if he can lower prices or not. I will bet money on it ......................... not just taking credit for all either when he directly has nothing to do with it ..OH and Stop wasting money flying around needlessly!!!!!!!! THIS IS MY OPINION!!!!
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savannahoaks
Champion Author Rockford

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Message Posted: Mar 26, 2012 7:35:46 AM

This is typical political spin. If the government is taking less from you in taxes, it is a subsidy. This is a far cry from the billions wasted on pet energy projects by the White House. The oil companies are getting some tax breaks and these are "subsidies" in the minds of the Democrats, similar to freezing the rise in government expenditures is a "cut". In their minds the money is already spent so no increase is a cut in spending.
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studebaker1940
Champion Author Tampa

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Message Posted: Mar 26, 2012 7:34:02 AM

If you elect crooks then you get crooked legislation.Surprise,surprise , surprise
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MidNJ
Champion Author New Jersey

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Message Posted: Mar 26, 2012 7:33:57 AM

If we can't subsidize renewable energy we sure should not be throwing our tax money at the fossil fuel industry!!!
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lkozark
Champion Author Missouri

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Message Posted: Mar 26, 2012 7:31:05 AM

Wonder how much of the $4 billion gets funnelled back into campaign coffers? Maybe this is really just congress' way of funding their re-election campaigns.
That would explain why they don't repeal these subsidies!
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Clits
All-Star Author Louisiana

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Message Posted: Mar 26, 2012 7:30:39 AM

Look at the balloon in the sky. It says runs on White House on the side!
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RangerTrainer
Champion Author Ottawa

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Message Posted: Mar 26, 2012 7:30:11 AM

Stop the subsides!
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radiorumor
Champion Author Texas

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Message Posted: Mar 26, 2012 7:28:42 AM

Poor thangs!
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jrs4125
Champion Author Indiana

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Message Posted: Mar 26, 2012 7:27:58 AM

It costs a lot of money to buy in the beltway.
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4wheel
Champion Author Pittsburgh

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Message Posted: Mar 26, 2012 7:25:42 AM

Look where this article came from and then consider the source
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FBI2991
Champion Author Michigan

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Message Posted: Mar 26, 2012 7:24:53 AM

A lot of energy is wasted in the White House, mainly hot air.
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WES03
Champion Author Maryland

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Message Posted: Mar 26, 2012 7:23:30 AM

Yank the subsidies and the price goes up. Great idea.
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badbonita
Champion Author Syracuse

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Message Posted: Mar 26, 2012 7:23:15 AM

Like I'm going to believe anything that comes out of the White House right now.
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bozo
Champion Author Boston

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Message Posted: Mar 26, 2012 7:22:18 AM

consider the source.
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JoJoQc
Champion Author Montreal

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Message Posted: Mar 26, 2012 7:21:43 AM

Agree salog!!!
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traumer
Champion Author Twin Cities

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Message Posted: Mar 26, 2012 7:21:32 AM

Oh come on, this is all lies, he is trying to get reelected. Have all the Obama supporters forgotten all his promises he didn't keep nor intended to keep when he ran for president. He is just plain out right lying and deceiving people with half truths or even no truth to it. IT"S A OBAMA SCAM!!
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checkum
Champion Author St. Louis

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Message Posted: Mar 26, 2012 7:21:28 AM

talk is cheap, as washington well knows
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LWB_Sr
Champion Author Tennessee

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Message Posted: Mar 26, 2012 7:21:10 AM

Well put, Wildman14
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Drill4Petro
Champion Author Illinois

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Message Posted: Mar 26, 2012 7:20:53 AM

Election year politics. Lets say nothing about the taxpayer money wasted on wind and solar!
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kobes1
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Message Posted: Mar 26, 2012 7:20:22 AM

Greed
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mouse24
Champion Author Pennsylvania

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Message Posted: Mar 26, 2012 7:20:10 AM

we are being gouged by our government in order to promote their "green" initiatives.
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Wildman14
Champion Author Virginia

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Message Posted: Mar 26, 2012 7:19:17 AM

Ubama says a lot doesn't do much and usually means the opposite of what he says in his speeches. Just telling the masses what they want to hear and then doing whatever he wants.
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SaturnSC
Champion Author Columbus

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Message Posted: Mar 26, 2012 7:19:12 AM

Yikes
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buzzieNY
Champion Author Buffalo

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Message Posted: Mar 26, 2012 7:19:02 AM

Oil prices are not determined by supply and demand but rather greed and speculation.
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scu227
Champion Author New Haven

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Message Posted: Mar 26, 2012 7:17:59 AM

Why? We get huit twice, once at the pump and also in our paychecks.
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Aliphatic
All-Star Author Virginia

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Message Posted: Mar 26, 2012 7:16:59 AM

Nobody's subsidizing my fill ups.
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DeeLA
Champion Author Los Angeles

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Message Posted: Mar 26, 2012 7:16:26 AM

Do you think this might just be election year hype?
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redtruck01
Champion Author North Carolina

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Message Posted: Mar 26, 2012 7:16:13 AM

I will say one thing about our government they sure know how to give our money away.
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lbrinkmn
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Message Posted: Mar 26, 2012 7:15:29 AM

ok
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