One Huge Whopper

“Big Oil” has become a favorite Obama target. On March 29, 2012, Obama said, “Congress up until this point has thought it was a good idea to send billions more of your tax dollars to the oil industry.” Obama appealed to Congress to “stand with the American people” and vote to end subsidies to the oil and gas industry. But there is one problem: “Big Oil” receives tax incentives. In no sense can what “Big Oil” receives be called a subsidy — the sending of “billions more of your tax dollars to the oil industry.” Further, the incentives (sometimes referred to as tax breaks) are available to any US company.