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Posted: 2/17/2006 4:06:26 AM EDT
this is unbelievable! right now, RIGHT NOW!!! big oil is pulling 264 BILLION DOLLARS out of the gulf of mexico. the federal govt provides those companies $24,000,000,000 EVERY YEAR in gimmee gimmee welfare subsidies. turns out this has been going on since the early '80's. at that time, oil was $10/barrel and it wasn't worth the "time and effort" to drill/explore in the gulf. the fed govt wanted to encourage exploration so they provided the subsidy as an incentive. it's been going on ever since. do ya think they still need the incentive???

some members of congress are trying to end the subsidy because of the huge profits big oil has been raking in the last 5+ years and they are screaming about it, they are even threatening to sue the govt to keep their handout and our fearless leader has threatened to veto any legislation that comes across his desk trying to end this abuse of the taxpayers dollars.
Link Posted: 2/17/2006 4:20:02 AM EDT
Link Posted: 2/17/2006 4:25:08 AM EDT
There is no such thing as coporate welfare.
Link Posted: 2/17/2006 4:28:20 AM EDT
Link Posted: 2/17/2006 4:34:10 AM EDT
Link Posted: 2/17/2006 5:20:42 AM EDT

Originally Posted By hardcorps1775:
turns out this has been going on since the early '80's. at that time, oil was $10/barrel and it wasn't worth the "time and effort" to drill/explore in the gulf. the fed govt wanted to encourage exploration so they provided the subsidy as an incentive.



How can that be? I keep hearing from people on Arfkom and the Democrats that far from providing a commodity whose price is set by supply and demand on exchanges, the oil companies set the price of oil by fiat, and thus are maliciously and intentionally screwing the American consumer. Now you're telling me just 20 years ago oil companies were on the skids and getting handouts from the government? Lay off the Fox News, you freeper!
Link Posted: 2/17/2006 7:53:18 AM EDT

Originally Posted By captainpooby:
There is no such thing as coporate welfare.



of course there is.
Link Posted: 2/17/2006 7:54:45 AM EDT
In before the "Welcome to capitalism" bullshit.
Link Posted: 2/17/2006 7:54:48 AM EDT

Originally Posted By bastiat:

Originally Posted By captainpooby:
There is no such thing as coporate welfare.



of course there is.




It's the only reason we have as many airlines as we do.

Amtrak may or may not be an example as well.
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