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Tuesday, March 19, 2019

Big Oil Lobbyist Jack Gerard Lies About Industry Not Getting Subsidies

Big Oil Lobbyist Jack Gerard Lies About Industry Not Getting Subsidies

Just when you think you’ve heard it all from the fossil fuel industry, along comes American Petroleum Institute (API) chief executive Jack Gerard actually claiming on Tuesday that “the oil and gas industry gets no subsidies, zero, nothing.”

Gerard went on to argue that “we get cost-recovery benefits, much like other industries. You can go down the road of allowing economic activity, generating hundreds of billions to the government, or you can take the alternative route by trying to extract new revenue from industry by increasing their cost to do business. We not only pay our fair share, we pay more than our fair share.”

President Obama has proposed eliminating the $4 billion a year in subsidies and tax breaks to an industry that exceeded $100 billion in profits last year. These tax breaks for the oil and gas industry go all the way back to the 1920s and many argue should not be given to such a mature industry, and instead should be redirected to clean energy technologies of the future.

In addition to the $4 billion annual tax breaks, ThinkProgress reports that ExxonMobil, Chevron, and ConocoPhillips pay well below the corporate tax rate of 35 percent, with ExxonMobil paying only a 13 percent tax rate in 2011.

Washington, D.C.-based API is the the largest U.S. trade association for the oil and gas industry and claims to represent 400 companies. API spent $8.6 million on lobbying in 2011 and in last year’s election cycle spent heavily on funding groups running political ads against Democrats and in support of Republicans.

Gerard, who is close to fellow Mormon Mitt Romney and would have wielded enormous influence in a Romney administration, epitomizes the Republican “drill, baby, drill” attitude that ignores the environmental, public health and climate consequences of pumping all that carbon into the atmosphere. With his latest comments, he is ignoring America’s long history of subsidizing Big Oil.

While Gerard, whose salary was $6.4 million in 2010, disengenously states that Big Oil doesn’t receive subsidies, API actually ran ads two years ago against the Obama administration’s proposal to end tax subsidies for the oil and gas industry.

Photo credit: EnergyTomorrow via Flickr


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40 responses to “Big Oil Lobbyist Jack Gerard Lies About Industry Not Getting Subsidies”

  1. Lynda says:

    Ain’t semantics fun! They get tax special breaks and he is pretending that they don’t relate to subsidies. Just another overpaid phony and disingenous liar.

    • old_blu says:

      Lynda if they are not getting any subsidies then they shouldn’t mind getting them taken away. Don’t you think?

    • ObozoMustGo says:

      Lynda, depreciation and amortization of capital costs is NOT semantics, it’s called normal accounting procedures. Just like any other business that makes long term investments in, say R&D, they get to amortize/depreciate those costs as they should. Oil companies are no different. Read my post above on this topic.

      Have a nice day!

      “Don’t let schooling interfere with your education.” – Mark Twain

      • Sand_Cat says:

        Wow, you know some 4- and 5- syllable words!

        “Semantics” doesn’t address the issue.

      • Brian says:

        Your continued presence on this site never ceases to amaze. I’ve asked you continually to take your hatred and snarkiness to those sites where they are a better fit, RepubliCon and Tea Party blogs. Oh, wait! That’s right. Your craziness has banned you even from those sites.

        Even they know who is the real Bozo.

      • jebediah123 says:

        Good God, BOZO, are you back again?? I thought they outlawed freaks like you. Try reading the last sentence of the above article.

  2. nobsartist says:

    This is disgusting. In fact, our entire government is disgusting.

    Like Jefferson said, its time to flush the toilet.

  3. These guys should join the former AIG CEO. They are all members of the same club of crooks and liars.

  4. bckrd1 says:

    “Gerard, who is close to fellow Mormon Mitt Romney and would have wielded enormous influence in a Romney administration, epitomizes the Republican “drill, baby, drill” attitude that ignores the environmental, public health and climate consequences of pumping all that carbon into the atmosphere. With his latest comments, he is ignoring America’s long history of subsidizing Big Oil.”

    Go figure. A liar who is close to another liar.

  5. Muriel Schlecht says:

    I sure could use a “cost recovery” benefit. Who needs it more? BIG business with a CEO who gets a gangster salary plus “perks” and full benefits if he gets “fired” for lack of performance. OR, small business owners who only “dream” of never having to put some of their own personal incomes back into “the company” to keep it alive and maybe give their employees a raise instead of asking them to “take a cut”?

    • trainedcobra says:

      Do you have a mortgage? If so, the government allows you to recover the costs of interest you paid. Is that a subsidy?

      • ObozoMustGo says:

        cobra… they don’t like common sense being thrown in their faces in this leftist sea of insanity called The Memo. Of course, their own behavior and benefits are NEVER on the carpet to be discussed. Better for them to be hypocrites and not discuss it than for all to see what hypocrites they are.

        Have a nice day!

        “There is no such thing as a free lunch.” – Milton Friedman, his book by that title

        • metrognome3830 says:

          OK, if we give up our mortgage interest deduction, what will they give up? Just curious. I’m sure you have the answer. We’d love to hear it.

          Have a nice day!

          • ObozoMustGo says:

            Hey Metro! I posted this article in response to the article here on The Memo that has continued to perpetuate a lie through this oft repeated meme: that “Big Oil” gets subsidies. NO THEY DON’T! They have regular reductions of income for the cost of doing business, notably for exploration. That’s it. Just like when you worked as a pressman, if your company bought a new Mergenthaler Linotype, they were able to capitalize and amortize it’s cost over a period of time. Just like they should have. Exploration and drilling costs to an oil company are no different, my friend. This is another one of those stupid lies the left loves to repeat time and time again. It’s false.

            Regarding tax rates… I’ve said this a thousand times in here…. the only fair way to do it is a flat tax. No loopholes, no deductions, no credits, no nothing. How much did you make? Multiply by 10% and send it in. We can debate the rate, but the fact is that the only way to keep politicians from corrupting themselves by writing laws that favor one industry or group is to eliminate their ability to manipulate the tax code. And if the pols have no ability to manipulate the tax code, companies have much less reason to lobby them and pay them off with campaign money. Think about it. I am correct. The more complex the code, the easier it is to manipulate.

            Have a nice day, Metro!

            “No man’s life, liberty, or property is in so much danger as when the legislature is in session.” – Mark Twain

          • metrognome3830 says:

            Oh, I don’t have to think about it, OMG. I have been proposing a major change in the way we collect taxes for years, but no one listens. Well, some do . . . I think. You agree so I know of three counting you. The other is my dog park buddy, Bruce, the resident miser who is ultra-conservative and rarely agrees with me on anything. Amazingly, we get along quite well, however. We have worked out an outline for a new, simplified tax system. 1.) There would be three levels: 10%, 15%, 25% (or something close to that). 2.) No deductions (or at least very few and very small). 3.) Everybody pays according to their rate. Our belief is that we would raise more tax funds with less hassle than we do now. As you say, when you and I get our income statements, we figure 15% and send in a check. No long, confusing, irritating forms. Bruce could send in 25%. He’s a multimillionaire and he complains every year that he gets more retirement than he can spend. I spend lots of mine. We both complain about those damn 401Ks because now we are required to take a percentage out every year and pay taxes. So I will talk to Bruce and see how he feels about sending you to Washington with our proposal. Our lobbyist, so to speak. You’ll have to cover your own expenses. I’m too poor and Bruce is too miserly. He complains every time he has to take his wife out to dinner. Most of his wardrobe dates back to the ’60s. You would probably get along well with Bruce as matter of fact. I sincerely don’t know why he tolerates me at all let alone claim me as a friend. Maybe because we are both old farm boys from the Midwest and both grew up tossing hay bales instead of lifting weights, shoveling shit, pulling a combine through a wheat field behind the wheel of a Farmall with wheat chaff covering us from head to foot and all those other aspects of the glamorous life of a farm boy.

            Hope you’re having a great weekend!

          • ObozoMustGo says:

            Metro… I’d be happy to be the Chief Lobbyist for the Metro-Bruce American Economic Institute. Bruce can pay me out of that extra retirement money that he’s complaining about getting and the money he’ll save by not taking his wife out to dinner anymore. And the money he does not spend on clothes he can spend on a snazzy wardrobe for me so that I fit in with the others in DC. You can pay me in IOUs for Kobe beef sliders and duck fat fries at the Fairmount. Discuss my proposal with him tomorrow at the dog park and let me know if he’s in. He should be. This is a good deal for him.

            Have great day, Metro!

            “Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated failures. Persistence and determination alone are omnipotent.” – Calvin Coolidge

          • metrognome3830 says:

            I will discuss it with Bruce if he shows up tomorrow. We are having a cold snap here in the Sun Cities and many of the faint-of-heart have opted to stay home and just let their little canines romp about the backyard. It was down to 24 degrees yesterday. They call that winter here. OMG, if you can convince Bruce to part with that kind of money, I will enthusiastically endorse you as the world’s greatest lobbyist! With no peer! The last time he bought a cup of coffee it was ten cents a cup so he quit buying coffee out. Not only that, he is proud of his miserly ways. He brags about it. He uses coupons to buy the newspaper that he clips the coupons out of. If he were president you would see what “smaller government” is all about. He would probably do away with the vice president and he might let each state have one senator, and eliminate the house of representatives. But, miser and old curmudgeon that he is, I like the guy. But, Mrs. Metro tells me that I am equally curmudgeonly in my own way. Maybe that’s why. But I will certainly present your proposal to Bruce at the first opportunity. What do you think of the plan?

            Have a great day, OMG! And even better night!

          • ObozoMustGo says:

            Metro, I think it’s a great plan. I’ll convince Bruce that my lobbying will be money well spent. 24 degrees?????????? Holy Schnikey, Batman!!! Don’t tell the global warming alarmists. They don’t like having their bubbles burst.

            Keep me posted on Bruce’s decision. And Mrs. Metro may be a little bit correct with that curmudgeonly assessment. Maybe……. just sayin…..

            Have a great day, Metro!

            “No man’s life, liberty, or property is in so much danger as when the legislature is in session.” – Mark Twain

          • metrognome3830 says:

            I haven’t seen Bruce yet. Still only 32 degrees this morning. Luckily I retained one cold weather Thinsulate-lined parka. I have now used it at least 8 times in the past 8 years here in “sunny” Arizona. By the way, the correct term is “climate change.” Warm climates getting colder, cold climates warming. You’ll be sorry you doubted when the Atlantic is lapping at your doorstep or when Arizona becomes the bottom of the Pacific Ocean again. Yeah! Then we’ll see what you have to say. When Alaska becomes a tropical paradise . . . oh yeah, we’ll see.

            I’m pleased you like the tax plan. It’s amazing. we found something to agree on.

            I got an e-mail last week about a guy who was rewarded by a visit from a “good fairy” who offered to grant him his favorite wish.
            The guy thought quickly and said, “I want to live forever!” The fairy replied, “Sorry, I just can’t grant anyone eternal life. Pick something else.”
            The guy scratched his head and thought for a second and said, “I want to live until congress gets it head out of it’s ass and starts making sense.”
            The fairy smiled and said, “Why, you crafty bastard!”

            I like the Mark Twain quotes. I had an instructor once who claimed that Twain was totally illogical. I disagreed and I got a poor grade. I’m sure it was because I disagreed. Not because I seldom had my homework done on time.

            “It could probably be shown by facts and figures that there is no distinctively American criminal class except congress.” — Mark Twain

          • ObozoMustGo says:

            Hey Metro! Funny… I heard the same “good fairy” joke, but the guy wanted to live until the Toronto Maple Leafs won the Stanley Cup. Many variations, I am sure.

            It’s interesting how the whole “global warming” scam became “climate change”, isn’t it? The whole thing about man-made global warming IS a scam, Metro. You know that.

            Re: Twain, your instructor was obviously intimidated by Twain’s intellect. And that’s a great quote, also.

            Have a great day, Metro!

            “Don’t go around saying the world owes you a living. The world owes you nothing. It was here first.” – Mark Twain

          • metrognome3830 says:

            Yes, I know it is an all-purpose kind of story. It could be about a guy who wants the Vikings to win the Super Bowl, too.

            Global warming/Climate change . . . I’m not a scientist, so I have no standing to dispute them. Since none of us have been around since the beginning of the earth, we simply don’t have the knowledge to refute of confirm what is going on with our climate. So I don’t worry about it. What will be will be.

            Have a great day, OMG!

            “Anyone who loves the law and sausage should never watch either one being made.” — Attributed to Mark Twain (and I like to think he said it. It does sound “Twainish.”) 🙂

  6. idamag says:

    No surprise there.

  7. emadis41 says:

    Exxon/Mobil, received huge oil subsidies from the government and while earned $45 billion in 2009 but paid no taxes, and instead received tax refund. Chevron also received oil subsidies and paid $0 in taxes on $19 billion profits.
    O’ yes they paid their fair share, then they loophole it and get it refunded as “incentives”, incentives to layoff workers in the US, play with the price of gas by claims that their refineries being closed for repairs…ask the CA people who witnessed gas prices hover around $6/Gal.

  8. ObozoMustGo says:

    For all of you leftist freaks and useful idiots that have not had the benefit of my prior enlightenment on this subject, I will repost what I have posted many times before. Besically, they are NOT getting subisidies. They are simply expensing their costs of doing business just like any other business does. Like a restaurant the buys new kitchen systems like ovens and refridgerators will amortize those costs, so does an oil company that incurrs costs to drill new wells. Here is a real world analysis. Hat tip Randal Hoven, American Thinker

    About Those Oil Subsidies
    By Randall Hoven

    Everyone wants to end subsidies to oil companies, from President Obama to John Boehner and Paul Ryan. My question was “What subsidies?” Remarkably enough, CNN Money provided the answer.

    It turns out that they are all tax “breaks.” I even hesitate to call them “breaks” because some of them amount to little more than Congress defining accounting terms such as “capital equipment.” And the total amount of earnings not collected in taxes (which liberals define as a “subsidy”) is about $4 billion per year. Here is how that breaks down.

    Domestic manufacturing tax deduction — $1.7 B. This is a tax deduction given to every manufacturer in the US. Per CNN, it was “designed to keep factories in the United States.” If that deduction were eliminated for oil companies only, it would mean singling out oil companies from all other manufacturers.

    Percentage depletion allowance — $1 B. Any industry can write down a portion of the cost of its capital equipment as part of the cost of doing business. Right now, oil in the ground is treated as capital equipment. Again, this “subsidy” amounts to how the cost of doing business is defined. All companies get it, not just oil companies.

    Foreign tax credit — $850 million. Companies get credit for taxes they pay to other countries. All companies get this “subsidy,” not just oil companies. Should a company pay tax on tax? Should only oil companies pay tax on tax?

    Intangible drilling costs — $780 million. According to CNN, “[a]ll industries get to write off the costs of doing business, but they must take it over the life of an investment. The oil industry gets to take the drilling credit in the first year.” Among these four tax “breaks,” this smallest one was the only one that treated oil companies differently.

    The above tax “breaks” explain how much tax revenue is not collected from all oil companies. How much is collected?

    Exxon recently released its first quarter results for 2011. The number grabbing the headlines was Exxon’s profit: $10.65 billion in a single quarter. The number not given quite as much exposure was the taxes it paid in that same quarter: $8 billion, or 42% of income before taxes.

    And what does Exxon do with all that money it has left after paying $8 B in taxes? It put $7.8 billion into capital and exploration, as part of its plans “to invest between $33 billion and $37 billion per year over the next five years to develop new energy supplies.”

    In any other industry, that would be called “research and development.” Exxon is plowing 73% of its after-tax profits back into R&D. Who would be better at spending $4 billion of energy companies’ earnings in an attempt to provide our energy in the future: the energy companies or Obama’s energy czar?

    Do you know what oil company does get US subsidies, and not just tax “breaks”? Petrobras, Brazil’s state-owned oil company. According to the Wall Street Journal,

    The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil’s planning minister confirmed that White House National Security Adviser James Jones met this month [August 2009] with Brazilian officials to talk about the loan.

    Just to re-cap a few pertinent features of these “subsidies” to oil companies that Obama wants to cut.

    •They are all tax “breaks,” or earnings that oil companies get to keep, not money paid out from the US Treasury.
    •The amount of earnings not collected in taxes is about $4.3 billion per year — about 0.2% of this year’s deficit and enough to fund about 10 hours of current US government spending.
    •A full $3.55 billion of that amount (82%) is due to the way taxes are treated for all industries or manufacturers. To change these tax laws only for oil companies would require singling them out among all industries for special mistreatment. (I’m not a lawyer, but that sounds like a bill of attainder to me, something our Constitution forbids.)
    •The only tax in which the oil industry seems to get special treatment compared to other industries is intangible drilling costs. The amount of that subsidy? That would be $0.78 billion per year — enough to fund less than two hours of federal spending in 2011, and not even half the amount we are lending a foreign-owned and state-owned oil company for drilling offshore Brazil.
    •Oil companies already pay tax rates of 40-50% of income. For one company, Exxon, in one quarter of one year, that amount was over $8 billion, or almost double the so-called tax “subsidy” for all oil companies for an entire year.

    If you think oil companies enjoy some special privilege because of the money they throw around Washington, DC, consider that the Oil & Gas industry ranked only 19th in the amount of money contributed to politicians in the 2008 election cycle: $17.7 million. Who was number one? Lawyers, who contributed $126.9 million, or over seven times as much as the Oil & Gas industry. The Education lobby gave $37.4 million, more than twice as much as Oil & Gas.

    You might not realize it, but private oil companies don’t own much oil. Most oil in the ground, in fact 87% of the world’s supply, is owned by state-owned companies, and most of that by OPEC countries and Russia. Exxon, for example, owns only 0.68% of worldwide oil reserves. Venezuela owns 7.34%, more than 10 times as much as Exxon. What Exxon does is explore, drill, transport, refine, and distribute. It makes its money by doing things, not by sitting on capital.

    According to the DOE’s Energy Information Administration, every time you fill up your gas tank, more of your money goes to taxes than goes to refining costs and profits combined.

    Having said all that, go ahead and get rid of that special treatment of intangible drilling costs. Make oil companies write them down over the life of their investments, not just one year. Increase corporate taxes in the US, where corporate tax rates are already highest in the world. Collect enough money to fund the federal government for two hours.

    And of course, tell your constituents you don’t kowtow to those big, bad oil companies. Unless they’re owned by Brazil.

    Have a nice day!

    “Everything for the State; nothing outside the State; nothing against the State.” — Benito Mussolini

    • Sand_Cat says:

      to Obozo:

      your name is well chosen: you are a bozo and a moron. Why don’t you make it perfect and just go?

    • old_blu says:

      Hey Bozo I hope you are well this is a cut and paste of something I was reading awhile back.

      1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
      2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
      3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
      4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
      5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
      6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
      7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
      8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
      9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
      10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

      It’s a little long, sorry.

      • ObozoMustGo says:

        IT’S MY BOY BLU!!! How are you Blu?

        Real quick Blu… you won’t find me defending corporate welfare anymore than you’ll find me defending personal welfare. They both suck! But, after going through your list, it’s clear that you are lumping a whole lot of different situations into a single point. And that’s just downright wrong, misleading and illogical. This is a common mistake for those of you on the left that are emotionally driven and dominated by jealousy and envy, but it’s just not true. You see, what your list fails to recognize is that there is a difference between:

        1) reducing income by regular costs of doing business and
        2) tax deductions, and
        3) tax credits or incentives

        There is no way to sort out of your list what each of those items listed can attribute their taxes paid or percentage tax paid to. There’s only snap leftist freak judgement with no basis in fact or reality.

        For example, a company pays taxes on a quarterly basis like most of us that get a paycheck do every time we are paid. If the company over estimated their taxes, just like you did, they are entitled to a refund, just like you are. Is that a bad thing?

        Like I said, I am not in any way in favor of corporate welfare in any fashion. But, you see, when you have politicians who are forever manipulating the most complex tax code the earth has every known, special deals and incentives and deals for their constituents (read corporate welfare) are par for the course. Don’t you get it? The only real way to get rid of all the corporate welfare is to tax every single company and person at exactly the same rate, no loopholes, no credits, no deductions, no exceptions. That’s the only way to remove the incentive from politicians to be corrupt. When they cannot manipulate the tax code for their own benefit.

        One other point, Blu… how do you think companies cover the costs of the taxes that they pay? Ahhhhh….. that’s right… they add that cost to the cost of their product and services. The end user ends up paying the company taxes, Blu. So if you want the price of everything to go up really high, raise corporate taxes. They’ll just pass it on to you.

        Have a nice weekend, my boy BLU!!!!

        “If a tax-rate cut brings in more revenue, the rates weren’t cut enough.” — Milton Friedman

  9. Sand_Cat says:

    misdirected reply

  10. Sand_Cat says:

    misdirected reply

  11. Sand_Cat says:

    thanks for misdirecting a reply

  12. Brian says:

    It’s a shame that shame itself no longer counts. What is wrong with American education And Parental training that lying is so prevalent in American businessmen?

  13. bchrista says:

    If you want to talk about crooks and liars please don’t leave John Bolton out, talk about cohones this worthless piece of shit was part of the Bush team during WMD days and now he is employed by Fox News as a special analytcal correspondent advising the Network on mistakes Obama is making while he goes about the business of running the country, this is the type of bastard that if he was in charge of guarding the board containing the button that fires our nuclear arsenal he’s just a loose enough nut that would start world war three and destroy the world this is the nut that Fox News relies on to advice them and their viewing audience on what the President of the United States should do to run the country, this is the same asshole that told Bush that Iraq had weapons of mass destruction as an excuse to go to war in Iraq and he was shooting for Iran and after the smoke clearedand they had destablized Iraq Iran started on it’s nuclrar program and turned loose all the terrorest, prior to that Al Quada and all the other war mongering nuts were kept in check by Gadaffi this is a real special guy and should be locked and the key thrown in the deepest part of the ocean, this guy is really dangerous if allowed to do his thing.

  14. bchrista says:

    The thing I like about obozmustgo is that he enjoys showing how intellegent he is his every comment is laced with a touch of sarcasm he enjoys writing at a level that he thinks he is looking down at people becasue he feels he’s above anyone he replies to here that’s the reason he ends his comments with a quote from some famous person other than that he would just reply to your comment but the kicker is the quote no one else does that, that is his way of telling you that he considers you below him, you are not an intellectual on his level frankly I think he is wasting his time lowering himself to our level when he could be working at some University or college teaching an Economics or English class helping to enliven the world of students instead here he is rubbing elbows with people beneath him and not even getting paid, since I am Eighty years old am not on your level of intellegence I try to communicate with people more on my level and collect my Social Security and Medicare to which I paid into for over Sixty years and the poor rich that you represent are using their paid Republican stooges to cut the already small check that I collect that is rightly mine that they have been dipping into for years and leaving IOUS that aren’t even good enough to wipe your ass with Like I said before I think you’re wasting your time because you’re not going to change their mind because the majority of them have checked the facts and they are not going to change yours so I believe that’s called an impasse I expect will receive some smart remark from you and a famous quote will follow but you know what I learned early on in life, take to dudes and let them duke it out after the fight they may even shake hands, and no matter what is said the loser will never completely forgive the winner in the back of his mind and his thoughts deep down will never change.

  15. Don B says:

    Maybe he meant to say that it seems the oil industry doesn’t get subsidies….After all $4 billion dollar subsidy to a whole industry is a drop in the proverbial oil bucket after the oil companies have been raking in billions in profit per quarter. I guess they need the $4 billion dollar subsidy to keep their lobbyist doors open in Washinton, D.C.

  16. PamelaT says:

    well in the debt ceiling debate….that is one of the government subsidies that should go…since they “don’t get any subsidies, not one”.

  17. Here is something I read last week,Republican tennessee Senator Bob Corker’s son in law is a lobbyist for American petroleum company.Since Spickard,Corkers son in law,gotis job six bills from American petroleum company passe through Corkers committee.To add insult to injury Corker co-sponsered the Keystone pipeline which happens to be Spickards key project.While this practice is not illegal it is certainly immoral and insulting to the American tax payer.In my opinion nepotism should not be allowed between congress and lobbyist.

  18. onedonewong says:

    Yet not a word about the hundred of millions in green energy subsidies. Your comparing a $4 subsidy for every megawatt in production the oil industry receives $4 in tax credits while wind and solar receive $1000. Wind and solar energy will never be economically viable and its time the Gorites of the world wake up

  19. Don says:

    No subsidies eh? Well, then will not be affected if these subsidies are eliminated. Where have all these unbelievably self serving greedy robber barons descended from?

  20. Just another LIAR CEO, they must think we just fell off the oil truck!!!!!!

  21. Mike H. says:

    Let’s see, eminent domain for pipelines, & possibly other facilities. Forced pooling for drilling. Old wells, where owning companies long gone & dead, taxpayers on the hook to plug them.

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