End unnecessary and unfair tax breaks for big oil companies.

We understand that there is a major push for reforming or eliminating tax breaks for large oil companies in part to record high prices, profits and simple equality in business. While a good bit of tax breaks by Big Oil are manufacturing costs that have been on the books for nearly 100 years, there are certain laws that seem to certainly be useless in our modern society. One example is the fact that oil companies are allowed to write off the vast majority of expenses in drilling and exploring for new oil. This measure was created to motivate companies to expand their businesses, but we can reason that the spike in prices today is motivation enough. This tax break alone amounts to $1.2 BILLION a year! These laws are not only unnecessary, but hinder a legitimate energy competition in the US.