EDITORIAL: A Return on the Big Oil Campaign Cash Investment

"If only taxpayers had that kind of sway in Washington." The Mercury News hits the nail on the head in their editorial on the debate on tax subsidies for Big Oil. 

From the editorial: "This isn't about lowering gas prices. It's about giving campaign donors a return on their investment. A recent report by the Center for Responsive Politics showed that the 67 co-sponsors of the Restarting American Offshore Leasing Now Act, the bill that passed last week, have received nearly $9 million from the oil and gas industry in their careers. If only taxpayers had that kind of sway in Washington."

The big debate in Washington, D.C. right now is how best to reduce the national debt and reign in federal spending. One simple way to take a large chunk out of spending would be to adopt a plan proposed by Senate Democrats yesterday; end the tax subsidies for the hugely profitable oil industry.

This seems pretty simple. Big Oil companies continue to rake in record profits ($36 billion in the first quarter of 2011 alone), and are further subsidized by taxpayers to the tune of $21 billion. Meanwhile, Americans are struggling to fill up a tank of gas.

Question: why not cut the subsidies to this ridiculously profitable industry, who clearly don't need the help? Answer: Members of Congress don't want the overflowing well of Big Oil campaign contributions to dry up. Putting big money campaign cash ahead of the needs of voters and our national interest? Noooo, not Congress...SHOCK!

Click here for the full editorial.