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Fuels America Highlights How the Oil Industry Rigs the Tax Code
Posted 3 June 2014 in
The Fuels America coalition launched a significant, targeted digital advertising campaign to highlight over a century of sweetheart tax breaks for oil companies at working Americans’ expense.
The ads are running around The Woodlands, Texas, where oil companies are holding their annual forum to discuss industry strategies around taxes – a celebratory day for an industry that takes billions in subsidies out of taxpayers’ pockets to repurchase their own stocks and pay their CEOs tens of millions of dollars.
The advertisements, which warn viewers not to “let Big Oil rig the tax code,” links to a page on the Oil Rigged webpage that highlights the over $470 billion that’s been injected into oil industry coffers at Americans’ expense, just so oil companies can turn around and rig the system to block competition from America’s homegrown renewable fuels.
“While the oil industry enjoys a gusher of income from a rigged tax code, you pay more at the pump – and Big Oil enjoys outsized profits,” says the Oil Rigged page. “Don’t let Big Oil keep rigging the tax system against homegrown renewable fuels – which save money at the pump, burn cleaner, and create jobs at home.”
While the oil industry reaped $93 billion in profits last year and continued dodging the tax burden the rest of us have to shoulder, renewable fuels generate $14.5 billion in tax revenue every year.
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Fuels America Highlights How the Oil Industry Rigs the Tax Code
