Oil and Gas Subsidies are Entitlements

For over a century the oil and gas industry has been receiving entitlements. Entitlements are something that one feels they have a continuing right to receive. During this current discussion about ending the Social Security "entitlements" and Medicare "entitlements" for all the "little people" we should instead be ending the oil and gas entitlements.

“In the United States, credible estimates of annual fossil fuel subsidies range from $10 billion to $52 billion annually, while even efforts to remove small portions of those subsidies have been defeated in Congress.....” (1)

Pat Garofalo on Sep 13, 2010 wrote .... "I would submit that the only thing “ridiculous” about this situation is that the federal government gives tax subsidies to one of the most mature, profitable industries in the country. Many oil companies have little to no federal corporate income tax liability, yet they still receive taxpayer handouts, something that a supposed free market devotee like (Paul) Ryan should be staunchly against." (2)

“Earth Track estimates that annual oil, gas and coal subsidies total about $52 BILLION annually.” (3)

http://priceofoil.org/fossil-fuel-subsidies/

(2) Ryan: Cutting Taxpayer Subsidies To Oil And Gas Companies Is 'Ridiculous Economics'
thinkprogress.org/economy/2010/09/13/173515/ryan-ridiculous/

(3) http://priceofoil.org/wp-content/uploads/2012/05/FIN.USCapitolSubsidyGraphicFlyer.pdf