Does the US government subsidize oil companies?

Question

Everyone throws that out there, like it's a given, but I don't see any evidence of it. I'm not saying the government doesn't do it for sure, I'm just looking for evidence. i.e. how many dollars went to which company and when. Be specific. I'm asking about direct subsidies or specific tax breaks that aren't available to other industries.

And I'm not talking about military action in the middle east, either.

hottotrot1_usa · Accepted Answer

general overview:

http://en.wikipedia.org/wiki/Petroleum_industry

http://en.wikipedia.org/wiki/United_States_oil_politics

There are tax breaks for oil companies, but so far, I haven't found specific dollar amounts by company...

Heretic · Answer

No, subsidies are price supports.  What government gives the oil companies are grants for exploration, research and development.  These grants allow the oil companies to maintain investor profits without having to spend their own money.

? · Answer

No direct subsidizes  like they do to Agriculture but many special tax breaks are given just like they are to almost all industries

RockHunter · Answer

Democrats like to spread that lie around, but avoid the fact that the government DOES subsidize so-called green corporations that contribute to Democrat candidates, like GE and Solyndra.

Does the US government subsidize oil companies?

4 Answers