Tell the Senate to Cut Oil Industry Subsidies

During its first 100 hours, the new House of Representatives passed groundbreaking legislation that would cut off $14 billion in handouts to the oil industry and invest that money in alternative energy.  We don’t need to tell you that development of alternative energy such as wind and solar power is absolutely crucial to solving our global warming crisis.  It is also imperative that we move away from our addiction to unstable foreign sources of oil. 

The House Bill now sits stalled in the Senate – blocked at the behest of the White House and Big Oil lobbyists.  We need your help to get it passed. 

Now is the time to take the money we are giving the oil companies and invest it in energy for our childrens’ futures.     

Under the House Bill, the $14 billion now being given away to Big Oil would pay to promote renewable fuels such as solar and wind power, alternative fuels including ethanol and biodiesel and incentives for conservation.

The industry can afford it.  They are gushing money.  For example, Exxon's profits were nearly $40 billion last year. That was more money than had been made by any corporation in history. 

Now the industry says it needs the $14 billion federal handout to explore for new sources of oil.  Let’s look at how Exxon spent its profits.  Roughly $25 billion went to buy back the company’s stock.  A miniscule portion of their profits are being spent on wind, solar or other forms of alternative energy. 

Simply put, the oil industry does not need help from the taxpayers. 

Write your Senators and tell them to support the House Bill to cut Big Oil subsidies and put that money where it will do the most good: into alternative energy. 

July 18, 2018


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