Re: HELP the NEEDY

$2.4 Billion: subsidies to the Big Five producers debated and defeated
in the Senate in 2011 and 2012

The Repeal Big Oil Tax Subsidies Act, sponsored by Senator Menendez
(D-NJ) was debated and defeated by the Senate for two years running,
and would have eliminated $2.4 billion in annual tax deductions for
the five major oil companies: BP, Exxon, Chevron, Shell and
ConocoPhillips.

Although the move would have been an initial step, it's just the tip
of the iceberg. So called "independent" oil companies are hardly small
businesses. Major integrated oil companies also include Occidental,
Amerada Hess, Marathon, Murphy Oil and dozens of others. Together,
these companies produced 53.5 percent of U.S. oil in 2009.

$4 Billion: Subsidy cuts President Obama proposed in the 2013 budget.

President Obama has proposed cutting fossil fuel subsidies every year
he's been in office. The projections for savings have varied slightly
each year but always hover around $4 billion annually. Congress has
never even proposed voting on all of them.

$10 billion. Low end credible comprehensive estimates. Several recent
independent estimates of U.S. fossil fuel subsidies all arrive at
roughly this number, although they consider slightly different things.
Recent studies include those conducted by Management Information
Services, Environmental Law Institute, and the Organization for
Economic Cooperation and Development – OECD. (The OECD numbers
compiled and analyzed here.)

The Sanders / Ellison "End Polluter Welfare Act" also clocks in at
$11.3 billion annually.

$52 billion. Highest credible comprehensive estimate. Includes some
costs associated with defending pipelines and shipping lanes in the
Persian Gulf. Earth Track, an NGO that specializes in subsidy
valuation, estimates that annual oil, gas and coal subsidies total
about $52 billion annually.

As if that wasn't enough, the reality is that the fossil fuel industry
has profound impacts in much bigger ways.

Health. A 2009 report by the National Academy of Sciences claims that
burning fossil fuels results in about $120 billion per year in
health-related costs.

Infrastructure spending. The US is already committed to spending at
least $1.6 trillion additional dollars per year in maintenance, new
vehicles and fuel. We built our power transmission lines on the
assumption of large, remote power plants. We build our houses and
industries on the assumption of cheap electricity; those practices,
codes and regulations are still embedded in our construction and
manufacturing sectors. We built our power transmission lines on the
assumption of large, remote power plants.



http://priceofoil.org/fossil-fuel-subsidies/

On 8/1/12, Pred544@aol.com <Pred544@aol.com> wrote:
>
>
> In a message dated 8/1/2012 4:01:55 P.M. Central Daylight Time,
> larry.talbot@hotmail.com writes:
>
> Pred's right lesjulia.....have you seen how much in subsidies that hte
> taxpayers are forced to give to the oil companies every year. Does that
> mean
> that not only taxpayers have to take it up the butt at the gas pump but
> also
> furnish welfare?
>
> Being a moron you don't know what the hell you are talking about. We don't
>
> give the oil companies a red cent. We do give scumbags like you and other
> ghetto scum over a trillion a year.
>
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