19 May '11, 7pm

"The common thread between all these actions: Oil companies benefit. A lot. People don't." Great piece by @phaedrael

Look at the debates that have taken place on Capitol Hill in recent weeks. At a time when Americans are spending more and more of their hard-earned money on gas--and oil companies are making incredible profits--members of both houses of Congress voted to keep giving these corporations billions of dollars in tax breaks. Currently, the "big five" oil companies--Exxon, Chevron, ConcocoPhillips, BP and Shell--receive $4 billion in subsidies every year. These companies made $32 billion in profit during the first three months of the year, And, although 74% of Americans want to eliminate these handouts --they remain. The House leadership recently proposed a budget in which two-thirds of the cuts would come from programs that serve low-income Americans, according to the Center on Budget and Policy Priorities . The Pell Grant Program, which currently helps 9 million low-income stud...

Full article: http://www.treehugger.com/files/2011/05/on-oil-drilling-s...

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