Debbie Stabenow: Profitable oil companies should share in sacrifice of bringing down national debt

WASHINGTON — Sen. Debbie Stabenow said today that highly profitable oil companies need to do their part to help the United States government lower its $14 trillion in debt.

Speaking to reporters by phone this afternoon, the Democratic Senator from Michigan said the government should eliminate tax breaks and other subsidies for the top five largest oil companies.

"This is a huge issue for families" Stabenow said. "We're paying top prices at the pump. At the same time, out of the other pocket, we're paying the oil companies" with an estimated $4.4 billion a year in subsidies.

Stabenow said the Democrat-led U.S. Senate will vote on a proposal next week that would eliminate the subsidies for the five largest oil companies — ExxonMobil, Chevron, BP, Royal Dutch Shell and ConocoPhillips. .............(more)

The complete piece is at: http://www.mlive.com/news/index.ssf/2011/05/debbie_stabenow_calls_for_end.html

:rofl:

Wealthy corporations and individuals in general should share in the sacrifice needed to reduce the national debt. I've yet to see them sacrifice anything. Everyone else has. It's their turn now.

get rid of the subsidies and tax give-a-ways.. then do it.. Its just a big circus act for Senators to get their sound bites to press giving the ceo's of their yacht friends a drubbing.. and the price goes down 50 cents, people get amnesia, and the free tax payer money keeps going to those who need it the least.