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By the Numbers: $4 Billion

WhiteHouse -- Oil companies receive $4 billion every year in taxpayer-funded subsidies, despite continually bringing in record high profits. Meanwhile, gas prices are on the rise—just like they were this time last year—and the same people funding those subsidies are paying more at the pump for the gas they need to get to school and work.

In his State of the Union, President Obama introduced an all-of-the-above strategy that develops every available source of American-made energy. This includes everything from tapping our offshore oil supplies and vast natural gas reserves, to doubling down on clean energy resources like wind and solar power, to developing new technologies that help us use less energy altogether.

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Submitted Mar 26, 2012 By: RickythePilot

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bruin19MD Champion Author Maryland Posts:1,064 Points:164,450 Joined:Feb 2011	Message Posted: Mar 27, 2012 12:58:04 PM Ignore bruin19MD Report Abuse yup
Jarol Champion Author Iowa Posts:8,429 Points:1,594,115 Joined:Nov 2007	Message Posted: Mar 27, 2012 12:56:57 PM Ignore Jarol Report Abuse The federal government takes a lot of our money on every gallon we buy. They work against the private oil companies but have to keep them going because they are addicted to the income.
Eugene_C Champion Author Columbus Posts:2,299 Points:155,995 Joined:Mar 2004	Message Posted: Mar 27, 2012 9:16:01 AM Ignore Eugene_C Report Abuse They stopped ethanol subsidies, but kept oil. Who would have guessed oil ran the gubermint?
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Mar 26, 2012 11:18:43 PM Ignore tedjm1 Report Abuse STOP THE SUBSIDIES.
Bonito Champion Author Dayton Posts:15,754 Points:3,007,895 Joined:Jun 2004	Message Posted: Mar 26, 2012 11:17:26 PM Ignore Bonito Report Abuse Clean them up president Obama!
Rooster922 Champion Author Wilmington Posts:3,793 Points:657,045 Joined:Jan 2009	Message Posted: Mar 26, 2012 11:16:13 PM Ignore Rooster922 Report Abuse It takes time to mature, people wants it yesterday.
bikechuck Champion Author Indianapolis Posts:7,011 Points:2,063,120 Joined:Apr 2006	Message Posted: Mar 26, 2012 11:16:07 PM Ignore bikechuck Report Abuse More white house blather.
judgemobile Champion Author Ohio Posts:7,570 Points:2,445,135 Joined:Nov 2005	Message Posted: Mar 26, 2012 11:15:57 PM Ignore judgemobile Report Abuse 4 billion = 4 THOUSAND MILLON--I could live on the interest alone, even at today's poor rates, for decades, maybe longer.
billk44077 Champion Author Cleveland Posts:3,177 Points:631,555 Joined:Aug 2011	Message Posted: Mar 26, 2012 11:13:23 PM Ignore billk44077 Report Abuse Lobbyist payoffs
SparkieMi Champion Author Kalamazoo Posts:3,266 Points:589,360 Joined:Sep 2011	Message Posted: Mar 26, 2012 11:12:27 PM Ignore SparkieMi Report Abuse Why are they still getting the subsidies?????
BobD2009 Champion Author Long Island Posts:6,994 Points:1,240,760 Joined:Apr 2009	Message Posted: Mar 26, 2012 11:09:32 PM Ignore BobD2009 Report Abuse All subsidies should be abolished.
Blue48 Champion Author Illinois Posts:7,310 Points:1,638,920 Joined:Feb 2007	Message Posted: Mar 26, 2012 7:58:02 PM Ignore Blue48 Report Abuse WONDER WHAT WILL HAPPEN, BETWEEN NOW & NOVEMBER 6TH!
bar1035 Champion Author Charlotte Posts:9,161 Points:1,298,220 Joined:Aug 2006	Message Posted: Mar 26, 2012 11:45:12 AM Ignore bar1035 Report Abuse Geez, can you find anything more partisan than a White House press release? If ever the NN button was needed....
Van_Halen Champion Author Atlanta Posts:2,850 Points:641,980 Joined:Apr 2011	Message Posted: Mar 26, 2012 11:15:44 AM Ignore Van_Halen Report Abuse . Another Omaba Lie! Most of the breaks to Oil Companies come in the form of Tax Deductions not Subsidies, more over why shouldn't they get some breaks when their industry PAYS the most taxes! Exxon alone pays over One Million Dollars an HOUR in taxes which came out to 9.2 Billion Dollars in taxes paid in 2011! This does not include the money they collect for the State, Local, and Federal Governments in taxes on each gallon of gasoline sold. This is also just an example of one Oil Company, so I think $4 Billion in tax breaks spread over many Companies that on average each pay OVER $10 Billion a year in Federal Taxes really isn't a big deal when Obama is giving $1.2 Billion to GE alone without paying ANY taxes and $6.7 Billion to Obama Motors also without paying ANY taxes. How about ending those completely taxpayer funded tax breaks! The Liar in Chief hard at work thinking who to blame so we will stop looking at all the money he gives and throws away!
jimgraham Champion Author Akron Posts:10,372 Points:1,979,960 Joined:Oct 2007	Message Posted: Mar 26, 2012 11:05:43 AM Ignore jimgraham Report Abuse Mature industries should not need subsidies in any way, shape or form. The oil companies are definitely in a very mature industry.
YaBassa Champion Author Michigan Posts:2,430 Points:517,100 Joined:Nov 2011	Message Posted: Mar 26, 2012 11:02:51 AM Ignore YaBassa Report Abuse Remove all subsidies for Greedy Big Oil
doctorindyj Champion Author Santa Fe Posts:3,453 Points:839,810 Joined:Nov 2009	Message Posted: Mar 26, 2012 9:51:03 AM Ignore doctorindyj Report Abuse Get rid of all subsidies. Especially with the national debt out of control. The problem is the current regime will take it from one group and give it to another. The only difference between the parties is where the money goes.
Gas_Eyes Champion Author Dallas Posts:2,677 Points:644,860 Joined:Mar 2011	Message Posted: Mar 26, 2012 8:38:47 AM Ignore Gas_Eyes Report Abuse The government should give us more details about what the $4 billion is about. Some may be needed, and some may be wasteful. Just blaming big oil companies is plain politics. Is it all going to big oil companies?
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: Mar 26, 2012 8:30:40 AM Ignore Cheepo Report Abuse The government makes more profit on energy than the oil companies do without lifting a finger!!!
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: Mar 26, 2012 7:40:09 AM Ignore ReddevilNO Report Abuse Oh my!
danlanman Champion Author North Carolina Posts:3,332 Points:722,460 Joined:May 2011	Message Posted: Mar 26, 2012 7:39:51 AM Ignore danlanman Report Abuse stop the subsidies
Gman2011MI Champion Author Michigan Posts:2,003 Points:417,695 Joined:Apr 2011	Message Posted: Mar 26, 2012 7:39:33 AM Ignore Gman2011MI Report Abuse Cut THE CRAP either do something about the prices of fuel or pack your bags because that is going to make or break OBAMA if he can lower prices or not. I will bet money on it ......................... not just taking credit for all either when he directly has nothing to do with it ..OH and Stop wasting money flying around needlessly!!!!!!!! THIS IS MY OPINION!!!!
savannahoaks Champion Author Rockford Posts:2,697 Points:635,235 Joined:Mar 2011	Message Posted: Mar 26, 2012 7:35:46 AM Ignore savannahoaks Report Abuse This is typical political spin. If the government is taking less from you in taxes, it is a subsidy. This is a far cry from the billions wasted on pet energy projects by the White House. The oil companies are getting some tax breaks and these are "subsidies" in the minds of the Democrats, similar to freezing the rise in government expenditures is a "cut". In their minds the money is already spent so no increase is a cut in spending.
studebaker1940 Champion Author Tampa Posts:2,510 Points:686,555 Joined:Mar 2011	Message Posted: Mar 26, 2012 7:34:02 AM Ignore studebaker1940 Report Abuse If you elect crooks then you get crooked legislation.Surprise,surprise , surprise
MidNJ Champion Author New Jersey Posts:7,559 Points:1,173,100 Joined:Sep 2009	Message Posted: Mar 26, 2012 7:33:57 AM Ignore MidNJ Report Abuse If we can't subsidize renewable energy we sure should not be throwing our tax money at the fossil fuel industry!!!
lkozark Champion Author Missouri Posts:5,135 Points:1,366,610 Joined:Jul 2007	Message Posted: Mar 26, 2012 7:31:05 AM Ignore lkozark Report Abuse Wonder how much of the $4 billion gets funnelled back into campaign coffers? Maybe this is really just congress' way of funding their re-election campaigns. That would explain why they don't repeal these subsidies!
Clits All-Star Author Louisiana Posts:866 Points:257,040 Joined:Mar 2005	Message Posted: Mar 26, 2012 7:30:39 AM Ignore Clits Report Abuse Look at the balloon in the sky. It says runs on White House on the side!
RangerTrainer Champion Author Ottawa Posts:2,458 Points:609,445 Joined:Nov 2010	Message Posted: Mar 26, 2012 7:30:11 AM Ignore RangerTrainer Report Abuse Stop the subsides!
radiorumor Champion Author Texas Posts:2,817 Points:754,835 Joined:Feb 2011	Message Posted: Mar 26, 2012 7:28:42 AM Ignore radiorumor Report Abuse Poor thangs!
jrs4125 Champion Author Indiana Posts:2,758 Points:591,745 Joined:Sep 2011	Message Posted: Mar 26, 2012 7:27:58 AM Ignore jrs4125 Report Abuse It costs a lot of money to buy in the beltway.
4wheel Champion Author Pittsburgh Posts:19,143 Points:2,741,905 Joined:Sep 2005	Message Posted: Mar 26, 2012 7:25:42 AM Ignore 4wheel Report Abuse Look where this article came from and then consider the source
FBI2991 Champion Author Michigan Posts:4,210 Points:1,139,865 Joined:Nov 2008	Message Posted: Mar 26, 2012 7:24:53 AM Ignore FBI2991 Report Abuse A lot of energy is wasted in the White House, mainly hot air.
WES03 Champion Author Maryland Posts:4,843 Points:1,265,370 Joined:Feb 2009	Message Posted: Mar 26, 2012 7:23:30 AM Ignore WES03 Report Abuse Yank the subsidies and the price goes up. Great idea.
badbonita Champion Author Syracuse Posts:6,224 Points:1,353,710 Joined:Jul 2008	Message Posted: Mar 26, 2012 7:23:15 AM Ignore badbonita Report Abuse Like I'm going to believe anything that comes out of the White House right now.
bozo Champion Author Boston Posts:4,690 Points:2,091,630 Joined:Feb 2003	Message Posted: Mar 26, 2012 7:22:18 AM Ignore bozo Report Abuse consider the source.
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Mar 26, 2012 7:21:43 AM Ignore JoJoQc Report Abuse Agree salog!!!
traumer Champion Author Twin Cities Posts:5,374 Points:1,338,450 Joined:Aug 2006	Message Posted: Mar 26, 2012 7:21:32 AM Ignore traumer Report Abuse Oh come on, this is all lies, he is trying to get reelected. Have all the Obama supporters forgotten all his promises he didn't keep nor intended to keep when he ran for president. He is just plain out right lying and deceiving people with half truths or even no truth to it. IT"S A OBAMA SCAM!!
checkum Champion Author St. Louis Posts:7,598 Points:1,475,115 Joined:Jan 2008	Message Posted: Mar 26, 2012 7:21:28 AM Ignore checkum Report Abuse talk is cheap, as washington well knows
LWB_Sr Champion Author Tennessee Posts:13,684 Points:1,127,135 Joined:Jun 2007	Message Posted: Mar 26, 2012 7:21:10 AM Ignore LWB_Sr Report Abuse Well put, Wildman14
Drill4Petro Champion Author Illinois Posts:4,086 Points:1,015,185 Joined:May 2010	Message Posted: Mar 26, 2012 7:20:53 AM Ignore Drill4Petro Report Abuse Election year politics. Lets say nothing about the taxpayer money wasted on wind and solar!
kobes1 Champion Author Florida Posts:2,492 Points:557,610 Joined:Aug 2011	Message Posted: Mar 26, 2012 7:20:22 AM Ignore kobes1 Report Abuse Greed
mouse24 All-Star Author Pennsylvania Posts:813 Points:879,065 Joined:Jul 2006	Message Posted: Mar 26, 2012 7:20:10 AM Ignore mouse24 Report Abuse we are being gouged by our government in order to promote their "green" initiatives.
Wildman14 Champion Author Virginia Posts:3,675 Points:834,905 Joined:Jul 2008	Message Posted: Mar 26, 2012 7:19:17 AM Ignore Wildman14 Report Abuse Ubama says a lot doesn't do much and usually means the opposite of what he says in his speeches. Just telling the masses what they want to hear and then doing whatever he wants.
SaturnSC Champion Author Columbus Posts:1,051 Points:832,600 Joined:Nov 2008	Message Posted: Mar 26, 2012 7:19:12 AM Ignore SaturnSC Report Abuse Yikes
buzzieNY Champion Author Buffalo Posts:2,893 Points:635,555 Joined:Jun 2011	Message Posted: Mar 26, 2012 7:19:02 AM Ignore buzzieNY Report Abuse Oil prices are not determined by supply and demand but rather greed and speculation.
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: Mar 26, 2012 7:17:59 AM Ignore scu227 Report Abuse Why? We get huit twice, once at the pump and also in our paychecks.
Aliphatic All-Star Author Virginia Posts:775 Points:1,277,255 Joined:Mar 2005	Message Posted: Mar 26, 2012 7:16:59 AM Ignore Aliphatic Report Abuse Nobody's subsidizing my fill ups.
DeeLA Champion Author Los Angeles Posts:4,818 Points:1,365,330 Joined:Nov 2008	Message Posted: Mar 26, 2012 7:16:26 AM Ignore DeeLA Report Abuse Do you think this might just be election year hype?
redtruck01 Champion Author North Carolina Posts:1,593 Points:1,359,135 Joined:Mar 2009	Message Posted: Mar 26, 2012 7:16:13 AM Ignore redtruck01 Report Abuse I will say one thing about our government they sure know how to give our money away.
lbrinkmn Champion Author Minnesota Posts:2,734 Points:1,836,740 Joined:Oct 2005	Message Posted: Mar 26, 2012 7:15:29 AM Ignore lbrinkmn Report Abuse ok