AMERIKA: U.S. Taxpayers Subsidizing World’s Biggest Fossil Fuel Companies

stuartbramhall:

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Beats me why taxpayers are subsidizing oil companies to the tune of $10 million a minute – when budget deficits are forcing local communities to close libraries and lay off police and teachers.

Originally posted on RIELPOLITIK:

Source – theguardian.com

– Shell, ExxonMobil and Marathon Petroleum got subsidizes granted by politicians who received significant campaign contributions from the fossil fuel industry, Guardian investigation reveals:

Related…Fossil fuels subsidised by $10 million a minute, says IMF: http://www.theguardian.com/environment/2015/may/18/fossil-fuel-companies-getting-10m-a-minute-in-subsidies-says-imf

– The world’s biggest and most profitable fossil fuel companies are receiving huge and rising subsidies from U.S. taxpayers, a practice slammed as absurd by a presidential candidate given the threat of climate change.

A Guardian investigation of three specific projects, run by Shell, ExxonMobil and Marathon Petroleum, has revealed that the subsidizes were all granted by politicians who received significant campaign contributions from the fossil fuel industry.

The Guardian has found that:

A proposed Shell petrochemical refinery in Pennsylvania is in line for $1.6bn (£1bn) in state subsidy, according to a deal struck in 2012 when the company made an annual profit of $26.8bn.
ExxonMobil’s upgrades to its Baton…

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