Thursday, March 29, 2012

Senate Republicans Protect Big Oil Subsidies As Gasoline Profits Soar

I inserted a clarifying clause (in brackets & italics) since at first I mis-read the meaning, since others might have the same problem.

http://thinkprogress.org/green/2012/03/29/454789/senate-republicans-protect-big-oil-subsidies-as-their-gasoline-profits-soar/

By a nearly party-line vote of 51-47, the U.S. Senate failed to get the 60 votes needed to eliminate $24 billion in taxpayer subsidies for the five richest oil companies. The Republicans filibustered legislation by Sen. Bob Menendez (D-NJ) which would have cut the subsidies [and used the savings] to pay for investment in wind power and energy efficiency. Democrats who joined the Republicans included Sens. Mary Landrieu (D-LA), Ben Nelson (D-NE), Mark Begich (D-AK), and Jim Webb (D-VA). Sen. Susan Collins (R-ME) and retiring Sen. Olympia Snowe (R-ME) broke ranks and voted to cut the tax breaks.

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