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Return on Investment

28 Mar 2012  |   Lea Brumfield

As gas prices rise higher the closer we get to summer, Big Oil is raking in record profits –making $200 million more per quarter for every penny increase in gas prices.  The big five oil companies and other oil and gas firms spent over $146 million lobbying Congress in 2011 –for which they were handsomely rewarded with continued tax breaks. 

Last year’s Senate vote on repealing oil subsidies failed to gain 60 votes with a split of 52 to 48.  Those 48 senators who voted with Big Oil received over $21 million in career oil contributions, while the 52 senators who voted to protect the American people received only $5.4 million. 

This week, the Senate will be voting again to end handouts the oil companies that made $137 billion last year.

Tell your Senator to stop letting Big Oil buy its way in Congress.



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