bobbyw24
05-16-2011, 08:47 AM
Ronald Bailey | May 16, 2011
Last week, Congress hauled the chief executives from America's biggest oil companies into a committee hearing where they were hectored about the billions in tax breaks their industry receives to produce crude. As Bloomberg reported:
Exxon Mobil Corp. Chief Executive Officer Rex W. Tillerson and four counterparts defended $21 billion in U.S. tax breaks that Democrats are seeking to recapture to reduce the federal deficit.
http://amysrobot.com/files/bigoil.JPG
OK. But there is another energy subsidy that could be eliminated that would help reduce the budget deficit even more. The bioethanol subsidy.
http://reason.com/blog/2011/05/16/oil-industry-subsidies-21-bill
Last week, Congress hauled the chief executives from America's biggest oil companies into a committee hearing where they were hectored about the billions in tax breaks their industry receives to produce crude. As Bloomberg reported:
Exxon Mobil Corp. Chief Executive Officer Rex W. Tillerson and four counterparts defended $21 billion in U.S. tax breaks that Democrats are seeking to recapture to reduce the federal deficit.
http://amysrobot.com/files/bigoil.JPG
OK. But there is another energy subsidy that could be eliminated that would help reduce the budget deficit even more. The bioethanol subsidy.
http://reason.com/blog/2011/05/16/oil-industry-subsidies-21-bill