Creating a Sustainable Future
Sustainable ideas for practical people.
May 14, 2011
Oil Subsidies - just the facts
Oil Industry tax breaks
: Cost of Big Oil tax breaks in 2011.
: Cost of Big Oil tax breaks from 2011 to 2021.
Oil Industry profits
: Total profits for the five biggest oil companies in the United States, 2001–2010 (in 2011 dollars).
: Total Big Oil earnings, first quarter of 2011. Exxon Mobil alone accounted for $10.7 billion of that figure.
: Big Oil's first-quarter-2011 profit increase over the first quarter of 2010.
: Increase in gasoline prices compared to 2010.
Oil industry votes to close loopholes
: House Republicans who voted to cut tax loopholes for Big Oil during debate on H.R. 1230.
: House Democrats who voted to cut tax loopholes for Big Oil during debate on H.R. 1230.
Public supports ending tax breaks
74 percent: The proportion of Americans who favor "
eliminating tax credits for the oil and gas industry
," according to a NBC News/
Wall Street Journal
2-to-1: The margin by which "
Republican voters support ending subsidies
" for oil companies.
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