We hear more and more about the need to end subsidies to oil companies. Not just from Obama and democrats, but from some republicans and conservative pundits. Increasingly, the conventional wisdom seems to be that we ought to get rid of these subsidies.
I found myself wondering recently just what these subsidies are. Are they actual subsidies, i.e., direct money payments from the government? Or are they tax breaks? If they are tax breaks, are they special breaks that only oil companies get? Would ending these breaks help lower the price of a gallon of gas? Do those who advocate the end of subsidies to Big Oil even know what they're talking about?
I think this article provides some clarification:
About Those Oil Company Subsidies
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