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View Diary: Profits up for Exxon Mobil, Royal Dutch Shell (31 comments)

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  •  That's not the point of most of the breaks. (0+ / 0-)

    Most of them are to lower oil prices, not necessarily to give oil companies money, by making uneconomic, marginal oil economic via the tax break.

    That's what points 1,2,8 and 9 are.

    About half the money is in #5 on the list, which is a general subsidy to domestic manufacturing.

    #4 is essentially a tax break on money they pay federal and state governments, who are holding the leases.

    •  All of which is hugely counter productive (0+ / 0-)

      in the face of anthropomorphic climate change.

      We're paying them billions to pump more CO2 into the air instead of investing that money in sustainable energy. Fricken insane.

      Democracy is a contact sport...

      by jsmagid on Thu Oct 27, 2011 at 08:13:26 PM PDT

      [ Parent ]

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