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sydney alternative media - non-profit community independent trustworthy
Tuesday, 23 January 2007
US Congress cut Big Oil tax subsidies: Greenpeace rejoice
Mood:  bright
Topic: globalWarming

Our local Spanish translator Amparo sends SAM this call out from Greenpeace USA dated 17th January 2007, which echoes the local scandal in Australia lately over inflated prices at the bowser as the price of a barrel of oil dips to US$50. Over to Greenpeace here:

Big Oil companies have been getting richer, making record-breaking profits, while your wallet has been getting lighter. Well, this is your chance to get even. In just 2 days, Congress will vote to cut the tax breaks that Big Oil has been enjoying for years. This means taking away BILLIONS of dollars in subsidies for the nation's leading oil companies, and YOU can make it a reality. Better yet, Congress would use that same money to invest in renewable energy that will help break our nation's addiction to oil once and for all.

Tell Congress to cut off profits for Big Oil.

Not only have you been paying more at the pump, but you've also been paying taxes that benefit oil companies. Now you can play Robin Hood by taking tax breaks from rich oil companies and investing in a clean energy revolution. This is the opportunity you've been waiting for! Please, take action now and pass this along to friends and family.


Kate Smolski
Clean Energy Campaigner

702 H Street, NW
Suite 300
Washington, D.C. 20001
(800) 326-0959


[Then this celebration came through dated 21st January 2007 from Amparo forwarding the federation of state Public Interest Research Groups in the USA or PIRG]

Hi ,
In an amazing victory for our new energy future, the House of Representatives passed the C.L.E.A.N. Energy Act of 2007, taking millions of dollars in subsidies away from oil companies and investing it into renewable energy sources such as wind and solar.  Congratulations, and thank you for all your hard work during this campaign!

Background - Oil Company Profits Continue to Skyrocket

Big oil companies are swimming in a sea of record-breaking profits while American consumers and taxpayers pay the price. In 2005, the world's biggest oil companies reported a combined $111 billion in profits. In the first three quarters of 2006 they reported more than $94 billion.

Some of the biggest oil company profits in 2005 were:
* ExxonMobil:  $36.1 billion
* Royal Dutch Shell: $25.3 billion
* BP: $22.3 billion
* ConocoPhillips: $13.5 billion
* Chevron Texaco $14.1 billion

Federal Handouts Lavish Billions on Oil and Gas Companies

Despite earning record profits, oil and gas companies continue to benefit from billions in handouts courtesy of American taxpayers. Between tax
incentives, below-market fees for drilling on public lands, research and development subsidies and accounting gimmicks, these companies will receive more than $31.6 billion from the federal government over the next five years.

Specifically, these handouts break down as follows:
* Tax breaks: $16 billion
* Research and development subsidies: $1.8 billion
* Below-market fees for drilling on public lands: $9.5 billion
* Accounting gimmicks: $4.3 billion
* Total: $31.6 billion

Some of most outrageous handouts to Big Oil allows companies drilling for oil and natural gas on public lands to pay below-market fees, or royalties, for the resources they extract.  Oil companies are currently slated to shortchange taxpayers by $9.5 billion over the next five years.

Another giveaway allows oil companies to write off the costs of oil drilling and refining.  Together, these giveaways total more than $4 billion over the next 5 years.


Anna Aurilio
U.S. PIRG Legislative Director

P.S. Thanks again for your support.  Please feel free to share this e-mail with your family and friends.


Posted by editor at 11:36 AM EADT
Updated: Thursday, 8 February 2007 8:12 AM EADT

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