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Rep. Ed Markey: "Stop Big Oil From Drilling for Free, Save Taxpayers $53 Billion"

1 min. read

This past Friday night, the U.S. House of Representatives voted to give big oil $53 billion in corporate welfare. Here's video of Rep. Ed Markey of Massachusetts declaring that "[t]he biggest oil companies are already getting 100 year-old tax breaks to sell $100 a barrel oil to make $100 billion a year in profits," and that [t]hey don’t need a $53 billion windfall courtesy of American taxpayers and our national deficit."

Another Representative, Lois Capps of California, added in a statement:

This should have been a no-brainer – make the nation’s biggest oil companies pay to keep drilling on the public’s land, or they won’t be able to buy new leases from the federal government. But Big Oil and their friends in Congress continue to stand in the way of fixing the royalty relief law. And as a result, taxpayers will keep pouring billions of dollars into already stuffed oil industry coffers. It’s long past time to end this windfall and protect taxpayers.

That just about sums it all up.