Do government subsides to Big Oil make sense?
The GOP is against any government support of industries like the auto industry, high-speed rail, or renewable, clean energy. But oil companies, they argue, need taxpayer support Is that because the fossil fuel industry is the most profitable industry that has ever existed in the history of Earth, and therefore only they need corporate welfare? Or could it be because the Big Oil gives so much money to right-wing think tanks and Republican election campaigns?
The GOP claims it’s to keep the price of gasoline cheap at the pump. But who pays for those subsidies? Are they funded by magic money that floats down from the clouds, or do the very taxpayers who have to buy gas for their cars pay the taxes to prop up the record profits of Big Oil? And if we really wanted a moronic energy policy, why not just increase the subsidies enough that the oil companies could just give away gasoline free? Boy, that would help the US national debt come down and make us more energy efficient—NOT!
The US achieves electrical power generation efficiency of 34% today. Japan is at 90%. West Germany and France are around 85%. Why? Because we use tax money and tax exemptions to Big Oil to keep fuel oil and gasoline cheap here. Apparently, voters still believe in Santa Claus. Do you believe in Santa? What’s he really brought you over the last 30 years—more and more prosperity, or a bigger and bigger national debt and jobs flying off-shore?