Doing The 'Right' Thing: Oil Subsidies And The Deficit
Turkey Day is coming, and with it, the deadline for Obama’s 12-member “Super Committee,” a group of Congress members tasked with carving $1.2 trillion off our national debt.If the bipartisan group can even reach a deal (so far, they’ve missed their own deadline by at least ten days, flatly refused each others’ proposals and been awfully closed-lipped about possible compromises), it seems like everyone’s going to feel the pinch.Everyone, that is, who can’t buy his or her way out of it.Last week, the American Petroleum Institute — the notorious “Big Oil” lobby representing Chevron, Exxon Mobil, Shell and others — started running ads thanking Republican super committee members for preserving industry-specific tax breaks worth $40 billion over the next ten years. read more