In the first three months of 2011, ExxonMobil announced nearly $11 billion in profits, Shell $6.9 billion and BP $5.5 billion.
The five largest oil companies have reaped nearly $1 trillion in profits over the last 10 years. We know oil companies donÂ’t need our hard-earned tax dollars, yet Congress gives $4 billion in tax breaks to Big Oil yearly.
Because of the 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 three months, the Big Five Oil companies contributed a quarter million dollars to members of Congress. You donÂ’t need a crystal ball to see why Big Oil is getting big tax credits.
Too many anti-environmental politicians are willing to accept money from big oil and other dirty polluters who spoil our landscape, pollute our waterways, streams and drinking water, and ignore the warnings of scientists who say time is running out to solve global warming before its effects become irreversible. They and greedy corporations mislead voters with false information by claiming 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 oil company profits, voters didnÂ’t 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 hurting our economy and harming the environment.
A February Wall Street Journal/NBC poll found 74 percent of Americans supported ending tax breaks for Big Oil. Yet, pro-polluter lawmakers led by House Speaker John Boehner voted to continue handouts for Big Oil and cut support for clean energy.
Letter: Don
