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Big Oil: Obscene profits with subsidies on top

By Erik Curren | February 16, 2011

While the GOP House leadership seeks $60 billion in savings from programs including food-aid for pregnant women, public transportation and the EPA, Democrats say they can find most of that amount just from cutting oil subsidies. In his State of the Union address, President Obama proposed cutting nearly $40 billion worth of handouts to the oil and gas industry. All told, … [Read more...]

Filed Under: Politics Tagged With: American Petroleum Institute, Barack Obama, oil industry, plutocracy, Shell, subsidies, US Congress

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