- Apr 15, 2007
- 9,280
- 0
- 0
Why do the "progressives" keep saying that oil companies get subsidies?
A subsidy is a direct payment from the government.
That isn't what oil companies get.
Oil companies get tax breaks (write offs) which are available to any other company.
They are not subsidies and are not limited to oil companies.
Such write offs include 6% deduction of profits for domestic manufacturing.
Other sectors get up to 9%.
The only major write off targeted directly at oil companies is the ability to write off 70% of exploration costs and this has been around since 1913.
It really is nothing more than a transparent attempt to pin their failed energy policy on someone else like a typical "progressive". Gotta blame someone else, can't ever take personal responsibility.
A subsidy is a direct payment from the government.
That isn't what oil companies get.
Oil companies get tax breaks (write offs) which are available to any other company.
They are not subsidies and are not limited to oil companies.
Such write offs include 6% deduction of profits for domestic manufacturing.
Other sectors get up to 9%.
The only major write off targeted directly at oil companies is the ability to write off 70% of exploration costs and this has been around since 1913.
It really is nothing more than a transparent attempt to pin their failed energy policy on someone else like a typical "progressive". Gotta blame someone else, can't ever take personal responsibility.