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Media Matters: "Stu Varney Hated Oil Subsidies Before He Loved Them"

1 min. read

This is mildly amusing, that is if you have a dark, ironic sense of humor.

Fox News' business commentator Stuart Varney scolded President Obama yesterday for saying that oil companies enjoy "subsidies" at the expense of taxpayers. We shouldn't use the word "subsidies," Varney said, because they're actually tax breaks. He added: "Drilling deductions are an encouragementto drill. Take them away? Less encouragement. Less drilling"...

[...]

Less than a year ago, Varney not only called the oil tax breaks "subsidies," he agreed we need to "get rid of them" and specifically rejected the notion that oil companies would be less inclined to drill without the tax preferences.

Got that? According to Fox News commentator Stuart Varney, oil tax breaks were subsidies less than a year ago, but somehow in the past 300+ days they're not subsidies anymore. What changed since then, other than higher gasoline prices due to a recovering world economy and tension in the Middle East?  Maybe someone should ask Stuart Varney, because we're stumped.