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?