End fossil fuel welfare handouts paid for by taxpayers

[Riot]

It is important that the American people understand just how egregious these fossil fuel handouts are:

A Tax Deduction for an Oil Spill? -- We all remember the BP oil disaster in the Gulf of Mexico, the worst oil spill in U.S. history. What is less well known is that BP is claiming a 9.9 billion tax deduction on the money they had to spend cleaning up their own mess and paying for damages they caused. That is absurd.

They Manufacture What? -- Coal and oil lobbyists added fossil fuels to a bill aimed at helping American manufacturers, so they too could claim 'manufacturing' tax deductions. The added cost for taxpayers:12 billion over the next ten years.

Good Enough for Big Oil, but not Clean Energy -- Most of us have not heard about Master Limited Partnerships. These special financing arrangements allow oil and gas investors to avoid paying certain corporate income taxes, but are not available to clean energy businesses. Ending this fossil fuel loophole not only starts to level the playing field for clean energy investment, it saves the government an estimated 2.4 billion over the next decade.

Free Federal Oil and Gas Leases? -- Fossil fuel corporations are supposed to pay the government fair market royalties in exchange for the right to drill on public lands or in federal waters. But thanks to a loophole in federal law, some oil and gas corporations drilling in the Gulf of Mexico pay zero in royalties. The non-partisan Government Accountability Office estimated this could cost taxpayers up to 53 billion over the life of these loophole leases.

"Let's End Polluter Welfare"

http://www.huffingtonpost.com/rep-be...b_1531880.html