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White House: Oil firm subsidies ‘crazy’ amid corporate profit reports

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cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 01:22 PM
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White House: Oil firm subsidies ‘crazy’ amid corporate profit reports
http://thehill.com/blogs/e2-wire/677-e2-wire/157593-whi...

White House Press Secretary Jay Carney on Monday said major oil-and-gas company profit reports that will begin rolling out this week make the case for the administration’s push to end billions of dollars worth of industry incentives.

Companies including Exxon Mobil Corp., Chevron Corp. and ConocoPhillips Co. are slated to report their first-quarter earnings later this week, and the run-up in crude oil prices is expected to generate strong profits.

“I think most Americans would agree with the president that it is simply crazy and unsustainable to continue to subsidize the oil-and-gas companies when we need to reduce our deficit and invest elsewhere,” Carney said at a briefing.

(snip)
“And when Americans are going every day of the week to their local gas station and filling up and seeing a tank of gas cost $60, $70, $80 or more, I think they would be appalled to learn that major oil-and-gas companies will be announcing record profits this week,” Carney added.
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patrice Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 01:29 PM
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1. K&R
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Amonester Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 01:39 PM
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2. Shareholders Want More!
Isn't This What Capitalism Is Supposed To Be All About?

Cutting Their Socialist Incentives Will Result In Them Harvesting LESS, Not MORE!

:sarcasm:
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Andy823 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 02:44 PM
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3. Time for some TV ads
Show the huge profits the oil companies are making, and then show how hard these prices are on the average american, it will work! Also they need to start putting up bills in congress to stop the speculators from manipulating the prices of oil. Make republicans in the house, and senate, vote "against" any bills that would either cut subsidies for oil companies, or put tough regulations on how oil, and food, are bought on the commodities market! Force theme to vote, and then make more TV ads showing how the voted for the oil companies and wall street and "against" the average citizens! Flood the airways!
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