http://thinkprogress.org/green/issue/
by Daniel J. Weiss Feb 15, 2012 at 11:35 am
As part of the FY 2013 budget released on February 13, President Obama proposed to eliminate $40 billion in tax breaks for oil and gas producers over the next ten years. Yesterday, the Yale Project on Climate Change reiterated its recent finding that Americans of all political stripes oppose subsidies for “coal, oil, and natural gas companies.” They oppose these subsidies by 70 percent to 30 percent – better than two to one. Republicans oppose these subsidies by 67 percent to 34 percent (reflects rounding of percentages).
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This poll was conducted from October 20 to November 16, 2011, before respondents knew that the profits of the big five oil companies – BP, Chevron, ConocoPhillips, ExxonMobil and Shell – would be a record $137 billion in 2011. In addition, gasoline prices averaged $3.38 to $3.44 per gallon during the survey period. This week the average gasoline price was $3.52 and climbing. Imagine how the anticipated higher gasoline prices combined with big oil’s record 2011 profits will intensify opposition to big oil subsidies.
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