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Subsidies

Organizations which profit from pollution spend lots money on lobbying and campaign contributions. 

 

Is it worth it?   

"Fossil  fuel  subsidies are  a  form  of  corruption  that  enrich  fossil  fuel  shareholders."

Government subsidies are monies given to, or not taken from, private companies. 

To learn more about the non-cash benefits companies obtain, go to the political influence page.

When asked about Exxon's seemingly unethical political activities, one of their lobbyists replied,

 

"But  there's  nothing  illegal  about  that...We  were  looking  out  for  our  shareholders."

In "the  oil,  gas  and  coal  industry,  it’s...business  as  usual...

For  every  $1  [spent]  on  campaign  contributions  and  lobbying...it  gets  back  $119  in  subsidies."

"The  U.S.  was  a  real  all-star  of  giving money  to  dirty  industries...giving  $72  billion...to  oil,  gas,  and  coal."

 

"Estimates  put  U.S.  direct  subsidies  to  the  fossil  fuel  industry  at  roughly  $20  billion  per  year;

  with  20  percent...allocated  to  coal  and  80  percent  to  natural  gas  and  crude  oil."

"Tax  preferences  and...subsidies  push  nearly  half  of  new,  yet-to-be-developed  oil  investments  into  profitability."  

Over the years, legislative friends of polluting organizations have found myriad ways

to financially help these companies - using our tax dollars.  Here's a short list:

- "tax  breaks  (which  go  back  at  least  to  the  Revenue  Act  of  1916)" 

- "the  Deepwater Horizon oil spill...settlement  turned  out  to  be  tax-deductible,       meaning  that  BP  could  write  off  $15.3  billion  of  the  penalty"

 -  "$14.5  billion  in  subsidies  to  bring  down  gas  prices  and  utility  bills"

 -  "ExxonMobil...has  been  overvaluing  its  U.S...assets  by  as  much  as  $56 billion"

 - "...systematic  theft  of  oil  by  mis-measuring  amounts  removed  from  storage              ...the  feds  declined  to  prosecute"

 - Leasing rights for drilling and mining 

 - Land sales

 - "military  expenditures  to  protect...U.S.  oil  companies  overseas"

 - Defense dept. purchases of beef, gas, kerosene, oil, gasoline, dairy products

 - Most recently funds were doled out via Pandemic Assistance programs

There's also government help for pollution-related production at the state level, 

 as well as at the international level.

You can get in on these deals yourself - if you "fly...or  rent  a  car...you  can  deduct  the  expense."

Or you can join the Boycott.

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