Majority of Senators Vote to End Big Oil Tax Subsidies

Mar 29, 2012

Today’s vote on repealing subsidies for Big Oil proves there is strong support in the Senate for ending oil subsidies that are wasted on the largest oil companies instead of targeted on future clean energy substitutes that could break our long-term dependence on oil, according to The Wilderness Society.  The following statement can be attributed to David Moulton, senior director of legislative affairs for The Wilderness Society.

“Today’s vote again showed that a majority of the U.S. Senate supports repealing tax breaks that the oil industry doesn’t need.  Standing in the way of this overdue energy policy pivot is a very powerful oil industry and its minority of allies in the Senate who are intent on protecting Big Oil welfare at the expense of consumers and taxpayers.   The measure failed only because arcane Senate rules allow a minority to filibuster and block a bill even when the majority is in favor of the bill. Nevertheless, this bipartisan vote proved the support for innovation into ways to free Americans from the tyranny of the gas pump.

“The solution to high prices at the pump will not be found at the bottom of yet another oil well.  An AP study showed that increased drilling had no impact on the price at the pump. Meanwhile oil companies have been selling more and more gasoline overseas rather than keep prices low here at home.  On top of that, the oil industry continues to hoard American lands and drilling permits without using them, and still asks for more. 

“We shouldn’t be looking to sacrifice iconic American places like the Arctic National Wildlife Refuge so that oil industry can pad its profits.  Ending the subsidies and devoting those resources instead to meeting our transportation and energy needs without fossil fuels is the only way to end Americans’ pain at the pump.”