In Amanda Terkel's Huffington Post article "House Sequester Deal: GOP Insists on No Revenue Increases", she notes, "According to the Congressional Budget Office, the oil industry received $2.5 billion in tax breaks in 2011. The three largest oil companies made a combined profit of $80 billion that year. Last year, Republicans blocked a Democratic attempt to end some $20 billion in subsidies to oil companies. " Mind you, that $80 billion was profit after having paid exhorbitant salaries to the CEO's and other executives. This is absurdity at it's worst!! The $20 billion subsidies should more appropiately be used to help reduce the deficit.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
