while the consumers continue to pay record prices at the pump, the Big Oil companies are once again pocketing all-time record profits; yet they disavow any correlation to those high gas prices. But do they really expect the American people to believe that? During the first six years of the Bush administration, Congress pursued policies that furthered our dependence on oil. They showered the Big Oil companies with billions of dollars in taxpayer subsidies but never explained why those corporations deserve corporate welfare. Since regaining control of Congress, Democrats have twice passed legislation to redirect every penny of those taxpayer subsidies into research and development on alternative sources of fuel. For years, Republicans in Washington have supported a policy of corporate welfare for Big Oil that clearly hasn't worked. It's time for a new direction on energy policy.
Editor's note · Context
Addressing high gas prices and corporate welfare for Big Oil during a speech on energy policy.
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