The Energy Bill: Subsidies for Big Oil (moved from ATSNN), page 1

posted on Jul, 28 2005 @ 01:26 PM

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The eagerly awaited energy bill is about to become a reality, and yet it doesn't seem to contain enough provisions to reduce our dependence on foreing oil. What it does have, is a substantial amounts of subsidies that will go to the big oil companies.

money.cnn.com
The House on Thursday easily approved an energy bill packed with $14.5 billion in tax breaks and incentives and hailed by Republicans as a major change in energy policy.

Environmental and consumer groups criticized the legislation as a giveaway to an industry enjoying record profits with crude oil prices near $60 a barrel, while spending little on ways to curb demand or encourage renewable energy.

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energy companies have ample profits to fund new projects and don't need more subsidies. On Thursday, Exxon Mobil Corp. (Research) reported a 32 percent jump in its quarterly profits to $7.64 billion.

Please visit the link provided for the complete story.

We are already paying unprecedented prices at the pump, and now our tax money goes to further enrich the well connected. I'm surprised it doesn't cause public outcry. I guess we in the US got completely disconnected from reality... Until it knocks on our empty bank account.

[edit on 28-7-2005 by Aelita]

[edit on 28-7-2005 by Aelita]

Conspicuouz

posted on Jul, 28 2005 @ 01:40 PM

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govt. and corporations in bed together? blasphemy!

this is quite disturbing indeed. it's not like they are even trying to make it inconspicuous to the public that they are stroking each other's back. it's quite disgusting

ulshadow

posted on Jul, 28 2005 @ 01:59 PM

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Bush is probility sitting at his arm chair laughing his A$$ off, in how he rip off his fellow americans.

[edit on 28-7-2005 by ulshadow]

Voice_of Doom

posted on Jul, 28 2005 @ 02:11 PM

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Well...in politics, you get what you pay for.

There is no friend anywhere - Lao Tse

Hal9000

posted on Jul, 28 2005 @ 02:32 PM

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I like the idea of becoming less dependant on foreign oil, but there is nothing in this bill with regards to conservation or alternative energies. That's what happens when the fox is running the hen house.

Flinx

posted on Jul, 28 2005 @ 04:14 PM

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I agree with you....this is a horrible (yet unsurprising) travesty. I love how Tom Delay slipped a bit into the bill that funneled money to some company in Sugarland (his district).

However, I think you're going to have to change that intro paragraph. As far as I know, you're not allowed to give your opinion until the last section. But I'm not really sure as I just posted my first ATSNN story today...

[edit on 7/28/2005 by Flinx]