In just 24 hours, we’ve collected more than 5,000 signatures on our declaration to end Big Oil’s dependence on taxpayers.
The support makes it clear that taxpayers don’t want to be paying an extra $4 billion in subsidies on top of the $4 a gallon we pay at the pump. The big five oil companies announced $34 billion in first-quarter profits earlier this year. That’s $258,752 a minute, in profits! They don’t need our subsidies to keep them afloat.
If left untouched, these subsidies will cost taxpayers $43 billion over the next 10 years.
The debate over budget deficits has put a spotlight on these subsidies, and the more you look, the worse they seem. We are facing steep cuts to mass transit and high-speed rail projects — exciting and forward-thinking transportation choices for the 21st century — while maintaining unnecessary subsidies to oil and gas.
The stark contrast provides an unprecedented opportunity to end oil subsidies once and for all. The president has proposed cutting these handouts in his budget. Fifty-two senators including both Democrats and Republicans voted to end the subsidies.
We need to keep the pressure on, and make sure Congress hears from us now.
And then please forward this message on to your friends and family.
U.S. PIRG Executive Director
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