Skip to content

Should The US Stop Giving Tax Breaks To Oil Companies

May 15, 2011

The US government gives tax breaks to oil companies to spur production of oil in the United States. That is a good thing. However when oil is at $4.00 or more per gallon you don’t need government intervention to spur oil production in the United States. Simply the price will spur production. The high prices are better than any tax bread for helping production efforts. They let companies go into fields that were only marginally profitable at $2.00 gas and now suddenly those fields are very profitable again. So I’m just one blogger of many who think these tax breaks should be done away with.
I don’t believe all tax breaks for industry are a bad thing. We need them to spur development just like with the oil industry. However when the tax breaks have outlasted their usefulness it’s time to move on and give the break to another industry that could use the help. By doing that we will help with job growth and everyone knows we need more jobs in this country right now. So what industries do you think could use these tax breaks?

Advertisements

From → money, people, Science

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: