Saturday, May 19, 2012

Big Oil, Big Tax Breaks, Your Money, Who Benefits

ExxonMobil's View of America and their Role Towards the U.S.

When asked why ExxonMobil doesn't build more refineries in the U.S., their CEO, Lee Raymond, responded with the above quote taken from the cited book. (FYI: ExxonMobil HQ is in the U.S.). Author Steve Coll and his interview can be seen here (

Further for your edification, ponder this:

"Each year, Congress provides between $10 and $52 billion to the oil, gas and coal industries. By any measure these subsidies are huge and wasteful. This graphic (see link below) highlights the range of estimates of these subsidies, and the urgent need to eliminate them."

That stat is taken from this source linked here. More good reading on the subject is here, too.
Couple that with the ExxonMobil quote and their arrogant attitude about the bottom line, which we all understand is big oil real motivation, kinda takes your breath away, doesn't it. Um ... on that note, why don't we take away their subsidies and see how much that impacts their bottom line?

Just a thought.

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