Lucas,
ExxonMobil, Chevron and ConocoPhillips reported last week that they earned $18 billion in just the first three months of this year.
The five largest oil companies have reaped nearly $1 trillion in profits in the past decade.
While Americans struggle with rising gas prices, the major oil companies continue to profit from them. What's worse, Big Oil is not only taking our money at the pump, it is being rewarded to the tune of $4 billion a year in tax credits and subsidies.
Sign the Citizen's Petition to End Dirty Energy Subsidies.
Over the past two years, President Obama has attempted to repeal the massive giveaways to Big Oil, but the companies and their lackeys in Congress have successfully lobbied to kill the proposals every time. However, rising gas prices, budget woes and outrageous oil company profits are making it harder for policymakers to defend continued handouts to the oil industry.
In fact, defenders of oil handouts may be starting to crack under pressure. On Monday, House Speaker John Boehner said that repealing oil subsidies "is certainly something we ought to be looking at" and that oil companies "ought to be paying their fair share.".
Sustained pressure to crush brazen support for Big Oil handouts is needed now more than ever.
Public Citizen is working with its allies to generate hundreds of thousands of signatures to demonstrate public outrage toward unwarranted tax credits and subsidies for oil companies.
Please join this movement by signing the Citizen's Petition to End Dirty Energy Subsidies.
Ending these handouts is about more than justice. President Obama has signaled that the money reclaimed from Big Oil would play a significant role in clean energy investment. Ending dirty energy handouts and transitioning to a clean energy economy is long overdue.
The moment for change is now!
Thank you for all you do,
Allison Fisher
Outreach Director
Public Citizen's Climate & Energy Program