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Senator Bernie Sanders proposes to ax fossil-fuel subsidies

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Department of Energy and Climate Change
Department of Energy and Climate Change, Britain

Good for Senator Bernie Sanders, one of the few Senators who actually cares about the average citizen, and our planet…

Bernie Sanders used to be Congressman-at-large from Vermont. Now he’s Vermont’s junior Senator. In so many ways, however, he’s the nation’s Senator-at-large, showing the way when so many others in Congress have lost theirs.

While a good chunk of Congress, including a majority of the freshman class in the House, are climate-change deniers, Sanders has no illusions about where we need to be headed. That’s why he introduced the 10 Million Solar Rooftops bill last June. That bill, now with seven co-sponsors, was approved for a vote by the full Senate in December. It’s also why he introduced legislation to end oil and coal subsidies last year. That bill got just 35 votes in the Senate. But he vowed Tuesday not to give up.

“We’ve got to end all of the tax breaks for the oil companies and coal companies and I’m going to introduce legislation to do just that,” Sanders told demonstrators clad in black-and-white striped referee shirts who rallied to “blow the whistle” on members of Congress and Big Oil. Ending tax breaks and subsidies for oil and gas companies would reduce the deficit by more than $40 billion over the next 10 years. Sanders’ legislation will end those tax breaks and tens of billions of dollars in other special subsidies for the fossil fuel industry.

Besides ignoring Sen. Sanders’s bill last year, and Obama’s budget proposal, Congress refused to go along with the proposal of Sen. Robert Menendez (D-NJ), who wanted to cut some $2 billion in subsidies solely from the five big dogs in the oil business: BP, Exxon Mobil, Shell, Chevron and Conoco Phillips.

Together over the past decade, those five have together put $1 trillion on their bottom lines. And yet some of them have had years in which they not only paid zero income taxes, they actually got rebates. Exxon Mobil paid $39 million in taxes on the $9.9 billion in U.S. profits it made for 2009-2010. Its effective tax rate? 0.4 percent. Outrageous, but perfectly legal.
Sanders told the 350.org crowd, “One of the absurdities that goes on right here in Washington, D.C., is that Congress keeps voting not for the interest of our children, not in the interest of our future, but for the profits of the huge oil and coal companies.”

There’s a good reason for this outcome. In 2011 alone, oil and gas companies spent more than $100 million lobbying Congress, according to the Center for Responsive Politics reports. Since 1990, they have collectively passed out $238.7 million to candidates and parties, three-fourths of it to Republicans. Exxon Mobil alone contributed $872,694 to candidates in 2010-2011. Sitting members of Congress received $12 million in contributions from oil and gas interests from July 2009 through July 2011, according to the non-partisan research group Maplight.

(click here to continue reading Daily Kos: Bernie Sanders proposes to ax fossil-fuel subsidies and add 10 million sun-powered rooftops.)

Standard Oil Co of Ind
Standard Oil Co of Indiana

Outrageous, really, that our tax dollars go to line the pockets of oil industry executives…

Written by Seth Anderson

January 27th, 2012 at 9:24 am

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