Calls oil companies greedyIn the first three months of 2011 ExxonMobil announced nearly $11 billion in profits, Shell $6.9 billion and BP $5.5 billion.
By: Ray Anderson, River Falls, Hudson Star-Observer
In the first three months of 2011 ExxonMobil announced nearly $11 billion in profits, Shell $6.9 billion and BP $5.5 billion. In all, the five largest oil companies have reaped nearly $1 trillion in outrageous profits over the last ten years! We know that oil companies don't need our hard-earned tax dollars yet Congress gives $4 billion in tax breaks to big oil each year.
Because of the sharply divided 5-4 Citizens United decision by the Supreme Court, corporations like ExxonMobil have money to burn and can now spend unlimited amounts of money to influence elections. In just the first three months of 2011 the big five oil companies contributed a quarter million dollars to members of Congress. You don't need a crystal ball to see exactly why big oil is getting those big tax credits.
Too many anti-environmental politicians are willing to accept money from big oil and other dirty polluters who spoil our beautiful landscape, pollute our waterways, streams and fresh drinking water and ignore the warnings of scientists who say that time is running out to solve global warming before its effects become irreversible. They and greedy corporations mislead voters with misleading and false information by claiming that measures to protect our environment are bad for the economy and job killers.
In the face of huge budget deficits, budget cuts, painful gas prices and shocking oil company profits, voters did not authorize Congress to give tax dollars to Big Oil. They would rather invest in renewable energy sources, clean air and water to reduce our dangerous dependence on oil that hurts our economy and harms the environment.
A February Wall Street Journal/NBC poll found that 74 percent of Americans supported ending tax breaks for big oil. They know that oil companies don't need them. Yet pro-polluter lawmakers led by House Speaker John Boehner voted to continue handouts for big oil and cut support for clean energy. They care more about their self-interest than our interest in a clean environment.