Political Quotes

“With regard to the subsidy issue, the simple fact of the matter is that the Republicans are not for free markets. But what they are for is Big Oil co-opting free markets. In fact, 70 percent of all energy-related subsidies go to fossil fuels like oil and coal. Less than 5 percent of subsidies go to renewable energies like wind and solar. The gentleman from Utah pointed out that many of these subsidies help small drillers, and, in fact, that can be true. But it is easy to apply changes only to the Big Oil companies and not even affect independent producers. There's simply no excuse not to end this corporate welfare which keeps taxes for all Americans who pay their taxes artificially high. In fact, at the same time that BP was reaping sizable tax benefits from leasing the Deepwater Horizon rig, it turned out that the company was using the tax break for the oil industry to write off 70 percent of the rent for Deepwater Horizon. That tax subsidy cost American taxpayers $225,000 a day since the lease for Deepwater Horizon began. And that's just one example of many. I also want to address some misperceptions regarding President Obama's policies regarding oil resources. The Obama administration is allowing, on average, more drilling than the Bush administration did. In fact, the Obama administration approved more leases in 2010 than the Bush administration did in any year except one of his presidency.…”