Thursday, August 7, 2014

Wisconsin Assembly Candidate Denounces Tax Breaks for Wind Energy but Conveniently Overlooks What Big Oil Receives

EDITORIAL: 59th Assembly Candidate Jesse Kremer Discusses Minimum Wage & Wind Energy. (Jesse Kremer for Assembly campaign website)

Triumph of the Drill.  (Mother Jones, 4/14/2014)

Jesse Kremer's phony-baloney free market in action Over the past century, the federal government has pumped more than $470 billion into the oil and gas industry in the form of generous, never-expiring tax breaks. Once intended to jump-start struggling domestic drillers, these incentives have become a tidy bonus for some of the world's most profitable companies. 

Taxpayers currently subsidize the oil industry by as much as $4.8 billion a year, with about half of that going to the big five oil companies—ExxonMobil, Shell, Chevron, BP, and ConocoPhillips—which get an average tax break of $3.34 on every barrel of domestic crude they produce. 

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