Big Oil Doesn't Need Handouts

[Crazy Dave]

By Ted Danson and Andrew Sharpless on HuffPost

Here's a scary fact: Last year, the biggest five oil companies alone scored $76 billion in profits.
And here's an even scarier fact: Last year, the oil industry received more than $4 billion in tax breaks.

These numbers don't lie -- it's clear that Big Oil doesn't need billions in handouts.

That's the message we're sending today on Capitol Hill as we join forces with lawmakers to urge an immediate end to the subsidies and tax loopholes that fill the coffers of oil companies such as ExxonMobil, BP and Chevron.

In case you need further proof that these companies have enough money to pay their fair share of taxes, Exxon just reported $10 billion in profits this quarter, a 40% increase over last year, and Chevron reported almost $8 billion, double last year's profits for this quarter. We simply can't afford to give handouts to Big Oil; in fact, our federal deficit is growing as a result of these irresponsible tax breaks.

Full story here:
http://www.huffingtonpost.com/ted-danson/big-oil-doesnt-need-hando_b_1071658.html?ref=yahoo&ir=Yahoo