Dems, GOP Spar On Oil Drilling, Subsidies

As GOP readies bills that would expand offshore drilling, Dems push for vote on repealing tax breaks for oil companies.

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"I think there are already clear divisions within the House Republican caucus on how damaging it would be to vote to keep tax subsidies for an industry where the top five companies made more than $30 billion in the first three months of the year," an unnamed House Democratic aide told the Hill on Wednesday.

 

 

 

Indeed, leading Republicans have shown some willingness to budge on the matter. In an interview last week, House Speaker John Boehner told ABC News that oil and gas companies are "gonna pay their fair share in taxes - and they should." (Boehner's office later walked back the comments.) And leading Republican Rep. Paul Ryan, of Wisconsin, has voiced support for potentially ending the subsidies.

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Barbara said on Wednesday, May 4 at 2:57 PM

I say we pull all permits, have the Governments take control of the oil and we hire employees to do what they are doing right now. And we should all get Dividend checks to pay us for the product that belongs to us.

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barbara said on Wednesday, May 4 at 2:55 PM

for me this is all BS. They raise our rates at the pumps to show control of their product. Personally, that oil is coming from the earth that is called America, Mexico, etc. and for me, this means the products belong to the citizens. It's like bottling air and selling it. BS

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