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Senator Boxer: Ending Tax Breaks for Big Oil
Thursday, March 29, 2012
Dear Friend:
This week I spoke on the Senate floor in support of legislation to end billions of dollars a year in tax breaks for big oil companies. It is stunning that Republicans are blocking this effort at a time when oil companies are making record profits and consumers are being hurt by rising prices at the pump.
To view my remarks, please click here.
Sincerely,
![Barbara Boxer, US Senator, California](https://webarchive.library.unt.edu/web/20130309225142im_/http://boxer.senate.gov/en/press/updates/images/bbsig_blue.gif)
U.S. Senator Barbara Boxer
Your Voice Counts: Californians Respond to This Message +
(NEW) Thank you for your efforts to end tax subsidies for oil companies. 74% of the American people think this should happen, even a majority of Republicans think this should happen. The oil companies make billions and past $45 a barrel need no breaks to make a profit, and they are over $100 barrel. When testifying before Congress, the CEO's of the top five oil companies admitted that they do not need any subsidies. So why does this happen?
Nola, Irvine
(NEW) Thank you for trying to end this ludicrous tax break. Why should the tax payer subsidize big oil companies who are making record breaking profits? Only confirms to the taxpayer that the lobbyists rule congress rather than main street.
Kurt, Ventura
(NEW) Please urge our legislators to show their moral courage to vote for ending tax breaks for big oil companies, corporations, and those in the high income brackets.
Sue, Los Angeles
(NEW) Keep up the good work. Big oil doesn't need its tax breaks any more than Mitt Romney does. Continuing to subsidize oil production and consumption not only distorts our economy, it exacerbates the negative environmental effects of carbon pollution.
Lee, San Carlos
(NEW) Thank you for standing up for the American People in requesting the end of tax breaks for Oil Companies. It is very sad greed has shadowed the American Dream for most Americans. It is sad many members of the political parties are being bought out by big business. Our country is not for sale.
Theresa, Signal Hill
(NEW) So glad to hear you are in support of legislation to end billions of dollars a year in tax breaks for big oil companies. We need to continue to wean ourself off of oil and if anything, oil companies should be paying more taxes for all of the destruction their product causes. This is undoubtedly a step in the right direction. Thank you.
Christian, Paradise
(NEW) I generally vote Republican candidates; however, you received my vote in your last re-election. Why? Because you have demonstrated a solid understanding of military and National issues that affect National Defense and our economy. It is ridiculous to continue a subsidy for oil companies who continue to rip off the general public. The subsidies should have been cancelled on the same day that regulating the oil companies was lifted. Because oil directly affects our National economy, it would be appropriate to re-regulate the oil industry and to establish regulatory control over those on Wall Street who speculate on oil futures resulting in artifical increases in oil prices. So long as the oil companies continue to ship oil overseas at the same time as we are importing oil for foreign countries, the United States will never be able to become independent. Please continue your efforts to stop the subsidies to oil companies and find ways to regulate the industry and Wall Street. It directly affects National Defense (fuel/oil lubricants for military aircraft, ships, vehicles) and the military industrail complex that directly supports military operations.
Charles, Tehachapi
I just wanted to express my gratitude for not wasting any more of our badly needed tax dollars on such an undeserving bunch. It's too bad we couldn't take the money we used to spend subsidizing them and spend it on public education and lowering college tuitions. Maybe we can spend it like that instead! If we can then please do. Thank you for your representation.
Bruce, Oxnard
Your comments covered all the points, including unused acres, U.S. oil exports, etc, yet I cannot comprehend why Republicans are not voting in the interests of their constituents, since it will result in reduction of deficit. Horrible. Thanks for your efforts.
Karen, Vallejo
Ending a oil tax break will just increase the cost of our gasoline. Regards,
George, Irvine
I applaud your stand on removing the tax breaks for the oil conglomerates. As if the gas prices aren't high enough, legislation should be passed to stop it. I'm one of the little fish suffering with the high gas prices. Today I had to borrow $5 to put same amount in my gas tank, from a buddy to go to the store a couple of miles away.
Juan, Long Beach
It is stunning to me that, in today's dire situation, with gasoline costing over $4.00 a gallon, that you would think that taxing oil companies more makes sense!!!
Fred, Woodside
You stay strong against Big Oil. Who do they think they are fooling? Removing their "tax breaks" is NOT a "new" tax!!! It is simply saying they do not need "tax breaks" anymore. It is like when you let you child enjoy a "break" from the house rules when they are going through a rough patch. Re-instating the house rules when life gets back to normal is NOT creating new rules. Only a 5 year old sees it that way.
Nancy, Rescue
I admire the stand you are taking and the opinions that you express on this subject. I am so grateful that there is someone to give a voice to those who oppose the rapacious operations of corporations claiming our planet as their personal property.
Michael, Los Angeles
Thank you for standing up to an industry that takes billions in subsidies while socking it to consumers and making billions!
Sarah, Fresno
I agree that the oil that the oil companies don't need the tax breaks, but since this will increase there cost of doing business will the try to make it up in higher prices to the consumer. Don't blame the higher gas prices totally on the refiners. If the oil producers only sold oil to the refiners directly, without the speculators in the middle, the prices at the pump would be much lower.
Dennis, Auburn
We applaud any efforts on your part to end the oil subsidies, we would also encourage efforts to end subsidies to all the other mega industries, viz. agriculture for one. Thank you.
Vitaly, Pacific Grove
I think Barbara Boxer Rocks! Love how she stands up in Congress - statistics in tow - against Big Oil, and for the American people.
Sita, Los Angeles
Competition for dollars and oil comprise the two largest factors in the price of oil. Equally important is refining capacity. If you stop and think about it, the oil companies do make a huge dollar amount of profit. The question no one seems to be able to answer is what is their rate of return. It is easy to say to the constituents that we are going to tax the profits of the oil companies, but the issue of high gas prices goes deeper than net profit.
Sam, Bonita
Just a note to express my appreciation for your recent and past efforts on the matter of my subject line [Big Oil].
Carroll, Laguna Beach
And who do you think will end up paying for the money that you want to take from the oil companies? I agree that they probably don't need to have the subsidies but it will just get passed on to the American people. How about we produce more of our own oil increasing the supply of oil and therefore lowering the global cost...that will do so much good on so many fronts.
Travis, Buena Park
I appreciate your fine efforts Senator, but I was deeply disappointed in the failure of the Senate to limit or end the taxpayer support of the oil industry. They post larger and larger record profits year after year at the expense of working Americans and with serious damage to the American economy.
Donald, Walnut Creek
Quite honestly any time taxes are raised on business we, the consumer pays the difference. Prices at the pump will not change due to this legislation. We need oil companies to prosper, drill the oil we have here in the U.S. and thrive. My car won't run on algae, and by the time it can (if it ever can) I will be too old and broke to drive.
Diane, Tahoe City
As seniors who have been married for 50 years and are trying our best to keep our home and small car we THANK YOU. All the money that will be saved from giving it to the OIL COMPANIES should be used to pay off our debts to China, etc. I cannot see why anyone smart enough to be in Washington can't see what a great RIPOFF this is to the American taxpayers. Good luck and keep up the good work supporting the American people.
Marie, Reseda
You are spot on with your comments. In these days of the Republicans calling for the gutting of vital programs in the name of "budget needs" it is hypocritical to be giving billions to the oil industry which has never been in a better financial position.
Chris, Vista
It is outrageous that the republicans fight for the rich corporations with deregulation, subsidies, tax breaks and corporate welfare and then turn around and say we need to fix the deficit by taking the safety nets from the poor. This terrible ideology has left the 99% without a voice, in economic trouble and a future of environmental problems.
Lee, California Hot Springs
I'm tired of us all being labeled "anti-business" just because we expect oil companies to pay their fair share of taxes on their profits.
Douglas, Palm Springs
Thank for standing against greed! The oil companies want tax breaks not offered the rest of the citizens then use scare tactics regarding price increases if they don't get them. Their logic doesn't hold. If that were the case fuel would still be affordable . It's insulting also that they want to destroy prime wilderness for pipelines for "US" citizens fuel needs yet they are selling 60% of what is taken from our drilling resources to sell overseas. We get more efficient and less dependent so they get more crafty. Disgusting.
Valerie, Lake Elsinore
Until you have researched the effect of removing the tax breaks for oil companies, I believe you should leave it as it is. Not that I know everything, but I do believe that if you take off the tax breaks that gas prices at the pump would jump even higher than it presently is.
Richard, Sacramento
I completely agree that all subsidies to oil companies should be ended. There is no economic reason for retaining them at a time of record profits and long after the reason for granting them in the first place ended. There are plenty of environmental reasons not to continue them--air pollution, health, climate change.
John, San Jose
To get the price of oil down, you need to push for more oil exploration and possibly nuclear power. Sun and wind power, to a much lesser degree, would also be helpful. A very simple, straight forward solution.
Justin, Newport Beach
Keep fighting. Don't give up. There are so many people that support your efforts. I'm a mother of 5. All of us believe in you. Every one of my kid's spouses and their children are hoping and praying that you are successful in your fight.
Barbara, Vista
I just watched the video of you speaking on the Senate floor on legislation to stop the big oil handouts and I just wanted to say THANK YOU for standing up for our environment, for the average American, for new energy and for what's right.
Amber, Long Beach
With gas prices nearing $5.00 a gallon, it is unconscionable for big oil corporations to receive millions of taxpayer dollars to ensure their continued high profits. Those of us who often feel that we have no voice are grateful to you for representing our views. Sincerely,
Marcia, Idyllwild
Respectfully, you are wrong again. Take a look outside and be proud that oil companies are providing all the energy that we need to run automobiles, factories, generate electricity, and provide side products like plastics and pharmaceuticals and packaging products, etc. Also, the governments makes more in taxes from every gallon of gas than oil companies take in profits. We should encourage oil exporation within our own boundries. we can do that safer and cheaper than anybody else. I doubt that this will ever reach your eyes but I feel better having said my small piece. Thank you, Respectfully,
Gerald, Palmdale
I listened to your message about the urgent need to end tax payer subsidies to the oil companies. These tax sucking behemoths would sooner choke on their own greed and destroy the planet than give up once cent of their 100-year subsidies. Welfare queens indeed! It is unnerving, even in these cynical times, to see the Senate behave as it did today in filibustering this important bill.
Karend, San Diego
Instead of making oil companies and Republicans out to be the bad guys point your arrows at the oil speculators. Those are the guilty guys that are driving up oil prices and gouging us! The amount of record profits speculators are making are truly obscene. This is where we need some limitation and regulation. You want to get this economy moving? Reduce taxes. Encourage US Companies to bring their hoards of money home by not imposing penalizing taxes on them.
Dominic, Anaheim
You summed it up in one sentence. "Rich big oil companies are making record (billions) profits". Oil prices are unbelievably high for no apparent reasons other than speculation. It's time to cut the tax break, and use the money generated for funding schools and state & local governments infrastructure projects.
Joe, San Bruno
It is truly inconceivable that in this economy any one (regardless of their party) believes that in giving billions of dollars in tax breaks to big oil companies, any good for the American people will come out of it. I would love to see the next step in creating alternative fuels that will enable American dependence on oil to fade away. The first step in breaking the hold of big oil is by your efforts. They are greatly appreciated. Sincerely,
Roberta, Glendale
It is equally as stunning that you and the administration or willing to misrepresent the case concerning the oil companies. You are not sending money to the oil companies. They are getting the same sorts of tax breaks that other companies get.
Charles, Folsom
I agree, subsidies to oil companies is not right. They are pumping more oil now, importing less, but the price of oil/gasoline doesn't drop. No oil company is truly a "US" oil company. They will sell at what the world market price is.
Randy & Janet, Milpitas
You are right, they are making HUGE profits on the high price of oil and do not need any more money from the taxpayers.
Pamela, Santa Maria
I've always been under the impression that government subsidies were meant to help start-up companies succeed, not for established companies who make billions on their own while paying no taxes, all while contributing to the climate change issues we face today.
Dena, Newbury Park
I am in favor of eliminating the tax breaks to Big Oil. When thinking about what is happening to prices of almost everything because of the price of gasoline and the Oil Companies influence, why should we continue the tax breaks to big oil.
Donald, Riverside
When you raise taxes on big oil, who do you think will pick up the difference? The consumer will, thats who, the form of higher gas prices. We need an Energy policy that will reduce our dependency on foreign oil and increase energy and job production in our own country.
Dan, Newbury Park
I fully support ending these tax breaks for all the oil companies. Especially at a time when they are experiencing record profits, and the prices at the pump make it very hard for not only me, a disabled worker who has to live on SSDI payments for only working 28 years.
Taho, San Diego
I agree with the fact that tax breaks for rich oil companies are shameful. What concerns me is this: If we make them pay the taxes, won't they just pass those "costs of doing business" onto us? Thanks for what you do,
Nancy, Oceanside
I agree with your position on removing the tax breaks from big oil. The logic behind subsidizing these very profitable private companies is absurd as is the rhetoric of the republicans on why they need to stay in place.
Milton, Berkeley
We thank you for promoting the end of big oil subsidies. We must end their stranglehold on Americans. We support conservation, highly fuel-efficient cars (at least 70-100 mpg, if we are going to continue to use petroleum for transportation fuel), and finding alternative forms of energy. Our economic model needs to change to sustain our population and protect the health of the people and environment!
Jim, Bishop
I do not agree with you regarding remove tax deductions for oil companies. Oil companies deserve the same deductions as any other American company. If you want to help, change the way it is speculated.
Victoria, Bakersfield
Thank you so much for addressing the Senate yesterday about reducing tax incentives to Big Oil companies, and preventing their authority to drill along the California, Oregon, and Washington coast, and in the pristine Arctic.
Darlene, Spring Valley
Please reconsider your stance on the oil subsidies to the oil companies. As you know our country needs these companies, and we need do drill, and explore our own country for more oil. If we take away some of these companies incentives, they will raise their prices possibly. We are dependent on oil, and we will always be. Let's get creative, and process our oil in a clean enviormentally safe way, that would put a lot of people to work here in the US and we could enjoy our current lifestyle, and we wouldn't be looking at all of us driving around in these tiny smart cars that are so tiny, they are dangerous...Thank you for listening..
Molly, Lakewood
Thanks for supporting removal of tax breaks for oil companies. Our country needs to invest in green energy, not oil. Sincerely,
Kim & Alexandra, La Crescenta
I am thankful that the majority of the Senate voted down the proposal to end the oil company subsidies. To do so would further erode the situation. What you need to do is to get behind the Republican proposals to open oil exploration in the US, end the continuous regulation that stifles our energy companies and get on board with the pipeline project. We need to be more energy sufficient and put people back to work.
Donald, El Dorado Hills
The Oil companies don't need these tax breaks! That's billions of dollars that could be spent on developing new and supporting current alternative energy sources, fixing our nation’s infrastructure, making education more accessible for everyone, tweaking social security so it survives to my sons retirement and bunch other things that are waaaaaaaaaaaaaay more important than giving barrels of money to a handful of guys that are spending it on an energy source that we been using for the past 150 years.
Steve, Santa Monica
I respect your intentions, but I feel the content and the approach is wrong. If you were successful in passing this legislation and remove the tax break, all the oil companies would do is to compensate that on pricing. The price of gas would go up and the consumers would be worse off.
Sam, Pasadena
Thank you, once again, for trying to do the right thing by Californians and Americans alike and speaking against and voting to end oil subsidies.
Barbara, Roseville
If you take tax breaks away from big oil, they will only pass on the loss to the consumers. We will continue to pay higher prices. Don't make a mistake at this time by thinking more taxes will work. Who pays in the end. The consumer. We need to drill here and become energy independent.
Kim, Fresno
Thank you so much for your efforts in trying to eliminate the tax break for oil companies. Please don't give up the fight.
Carolyn, Valencia
We need the oil companies on our side. Punishing them tends to make them our adversary. They will just pass on their tax increases to our increases at the gas pump. Thus we'll have higher gas prices than ever. We both know that increased taxes don't increase government revenues so what is the point of taking away tax incentives? Respectfully,
Howard, Lake Forest
As you must know the government subsidy to which you refer is given to all manufacturers but at a lower rate to "big oil". I am retired and I depend on the profits from stock ownership for my income.
Herbert, Rancho Santa Fe
Big oil needs no more tax breaks. Give it to middle class Americans instead. We need to be allow middle income Americans to survive. Big oil is rich enough. They need to pay their fair share.
Sami, Rancho Palos Verdes
I appreciate the fact that someone is standing up to the gas companies. The consumers that have to depend on oil conglomerates have no say in the price of a gallon of gas. I understand that they are trying to find new resources but I am sure that their pockets are more than stuffed with profits that are over exuberant and unfounded.
Steven, Pacifica
I entirely concur with your position that tax subsidies to the oil companies should cease, but with one huge caveat. I will support abolishing the subsidies on oil companies when subsidies cease across the board extending to ALL companies and entities. Tax subsidies are a sick perversion of the tax code, repugnant and should not exist.
Mark, Ukiah
Thank goodness for your efforts to get rid of these tax breaks for corporations. These corporations are making record profits, giving their executives big salaries, bonuses and other perks; but they have done nothing to provide much needed jobs.
Susanna, Los Angeles
Thank you for your comments on Big Oil, and rescinding their tax breaks! I think the public needs those tax breaks, rather than Big Oil.
Gayna, Garberville
I don't think taking subsidies away from oil companies will necessarily benefit the general public. I think quite the contrary will occur. They will pass the loss of subsidies along to customers in increased prices for thier products and your little plan will backfire! I think they call it "the rule of unintended consequences"!!
Dan, Oxnard
I couldn't disagree with you more. The large oil companies provide millions of jobs, and continue to strive for better ways to produce energy in this country. They are not only "oil" companies, but natural gas, and petroleum products... Offshore drilling, shale gas...we have all the energy resources we need in the US, and you and your fellow Senators keep us from accessing it. Should we develop alternative sources, of course, but that is a long term solution...
Diane, Escondido
I am outraged over the way oil companies are gouging Americans. Thank you for standing up to them. I encourage you to support subsidies for alternative energy. I am building an electric motorcycle which I will use for daily transportation. Please fight for tax credits for alternative energy systems (like my motorcycle) that can end our dependence on oil. We can, and we must end our dependence on oil.
Leo, Vista
Any tax the government imposes on big oil, it is tax on the common worker at the pump.
Binh, Redlands
I 100% agree that big oil should not get any tax break or funding from the government. I am neither a Rep or Dem but the Reps talk a great deal about wealth transfers and free markets without big government and it would seem to be that taking money from me .. to give to big oil puts them at odds with their core beliefs. Instead, that money .. every penny should go to pay down the debt.
Jorge, Santa Clarita