The Conscience of a Liberal: Think of the Children

THAT IS SO WRONG, ON SO MANY LEVELS! They insult the American citizens with THEIR STUPIDITY!

But, keep those subsidies for the Super-rich oil companies!
Take from the poor and give to the rich! They are pathetic!

A bill to end millions of dollars in subsidies paid to oil companies was defeated today in the Senate.

The Democratic plan to strip major oil companies of about $20 billion a year in tax subsidies over the next 10 years and use the savings to pay down the deficit was defeated 52-48 in the vote.

"The nation's outdated tax laws currently provide the oil and gas industry billions of dollars per year in these subsidies, even though oil and gas prices are high and the industry is reporting out-sized profits," said the Obama administration in a policy statement released before the vote.

Republicans staunchly opposed the bill, as did Democrats from oil-producing states, including Sens. Mary Landrieu of Louisiana and Mark Begich of Alaska, opposed the bill, and Democratic Sen. Ben Nelson of Nebraska.

According to CNN.com, Senate Minority Leader Mitch McConnell, R-Kentucky, said the Democratic bill would "raise the price of gasoline at the pump, export American jobs and make us more dependent on people like (Venezuelan President) Hugo Chavez because the amount of oil we'll have to import will go up."

The truth, of course, is that subsidies have done nothing but line oil executives pockets and artificially supress fuel prices for decades. In this way, oil companies have managed to back the American people into a corner: "Give us our subsidies or we'll make it painful to drive that SUV!" Besides, the amount oil companies would "lose" if subsidies went away pales in comparison to their profits (see top image).