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      06-09-2013, 10:31 AM   #61
bbbbmw
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Anything from the ny post should be dismissed without reading it IMHO.

The Forbes article is interesting, but confirms that they do in fact receive subsidies. But I agree, the democrats are equally to blame for this. To me both parties are the same bunch of crooks and liars.

The current administration is a shit show.... at least we are all in the same meta database now. [/quote]


The primary "subsidy" for oil companies is the same tax deductions that any manufacturer gets - things like the cost of labor and other expense deductions. The oil companies also pay an average of 41% of their net income in taxes, vs. 26.5% for the S&P 500. I am amazed, however, that anyone is surprised at the price of gas today, when candidate Obama said he had no problem with gas at $4/gal, and that energy prices would "necessarily skyrocket" under his plan. His Energy Secretary said he wanted to see our energy prices like that of Europe.

I'm not pro or con for the oil companies, but like the big Pharma companies, they have become a political target to try and gain votes.

Also agree about the current administration - what a mess.
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