Here is an easy question: Exactly who authorized the $4 billion in annual federal subsidies and tax breaks that the oil and gas industry receive?
Congress, of course!
So doesn't it seem strange that Congress recently hauled "greedy" oil industry executives before a committee to chastise them for getting those taxpayer-funded benefits?
Look at it this way: If you're a homeowner and you get a mortgage interest deduction that reduces your tax bill, do you reject or accept that break? Most of us accept it - gladly!
So is it surprising that when Congress makes tax breaks available to the oil industry, the companies happily take advantage of those deals?
Where does the fault for this wasteful spending lie: with companies for accepting that "free money" or with Congress for authorizing it? We think its Congress' fault.
Some will argue that the (mainly) Democrats who are now pushing to end the subsidies would be able to do that if only the Republican majority in the House of Representatives would let them. But that claim doesn't hold water.
Prior to the 2010 elections, Democrats had total control of Congress, and a Democrat was in the White House. They could have ended the subsidies if that had been a priority for them. But they did not choose to do so, and now they are using their minority status in the House as an excuse to blame Republicans.
We favor an end to all energy subsidies - whether to oil or to costly, impractical wind, solar and ethanol.
But if Congress is determined to find someone to blame for the subsidies, it doesn't need to hold extensive hearings and grill oil industry executives. It needs to look in the mirror.