End of Giveaways to Big Oil

The Obama budget proposal released February 26, 2009 contains a super proposal to slash about $30 billion in taxpayer giveaways to the oil and gas industries. The days of Big Oil earning record profits while feeding at the taxpayer trough are coming to an end. President Obama's decision to put an end to these giveaways would be a huge victory for taxpayers and the planet if Congress approves.

The Obama budget proposal includes:

• A tax on oil and gas companies that are failing to pay oil royalties on Gulf of Mexico leases issued between 1996 and 2000.
• The repeal of former Representative Tom Delay's "Sugarland" deepwater oil and gas research program.
• Repeal of eight land standing oil and natural gas tax breaks some of which date back to the creation of the tax code and masquerade under obscure names such as intangible drilling costs and depletion allowances.

Send the letter below to urge Congress to approve this budget! The Senate has blocked similar efforts to trim giveaways to Big Oil in the past. They need to hear from you today!