Informative post from a fellow blogger that I thought I would pass along. Thanks for the information Ecopolitical Economics!
In 2011, the top five oil companies (BP, Chevron, Conoco, Shell, Exxon Mobil) posted a combined profit of $137 billion. In the first quarter of 2012, these companies earned a combined $33.5 billion.
These windfall profits were enough to put Exxon and Chevron in the first and second spots, respectively, of the Fortune 500 most profitable list.
Last year, fossil fuel companies got $11 billion in government subsidies.
How can we justify giving these companies our tax dollars when budget cuts have forced the de-funding of social programs and the layoffs of over 100,000 teachers nationwide?
Last week, Senator Bernie Sanders (I-VT) and Representative Keith Ellison (D-MN) announced they will introduce the End Polluter Welfare Act to Congress.
“People are sick and tired,” said Sanders, “of seeing the same folks who want to cut nutrition programs for hungry children fight tooth and nail to preserve federal tax breaks that go…
View original post 284 more words