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I am posting the truth. Why do you find it so hard to believe Petroleum has enjoyed 50 years of sweetheart taxpayer support from friendly congressmen? Do you honestly believe one oil refinery or pipeline was ever built without large government subsidies? Yo might also ask yourself why Oil Giant BP put 600 million dollars into green algae research. Just a tax write off maybe? Now you want to kill the messenger because the facts do not support your preconceived bias. I guess Jerome Corsi was as easily fooled me an them lefties: http://www.wnd.com/index.php?fa=PAGE.view&pageId=111304 FROM JEROME CORSI'S RED ALERT Slippery tactics: Obama declares war on oil Calls to end 'fossil-fuel' subsidies, impose new tax I suppose you will say this is a lie too: http://www.lecg.com/about/publications/PublicationDetail.aspx?pub=e3c2b607-e4b1-4be3-96c7-99360d2b9993 Ethanol Tax Credit – An Unequivocal Economic Success, Says New Analysis November 17, 2008 – Wayne, PA – The federal investment in ethanol over the past three decades has yielded billions of dollars of economic gain, according to a report released today from economic consulting firm LECG, LLC. The report concluded that each dollar invested in America’s ethanol industry in the form of the federal excise tax credit returned nearly $5 to federal, state and local government and the economy as a whole . According to the analysis, the tax provision has not only increased federal tax revenues, but also reduced imported oil expenditures and put more money into consumer pockets. The analysis, conducted by LECG Director John Urbanchuk on behalf of the Renewable Fuels Association (RFA), found that America’s ethanol industry has: ”...generated an estimated $33.4 billion (2008$) in tax revenue for the Federal government and nearly $17 billion (2008$) of additional tax revenue for State and Local governments since 1978, reduced America’s tab for imported oil by $97.5 billion, helped reduce farm program payments by more than $3 billion annually since 2006, and put some $66 billion more into the pockets of Americans in the form of increased household income since its inception in 1978.” Professor, I could teach you much about the emerging World Wide Age of Bio Technology, were you willing to learn. Obviously you would be shocked and amazed were you to open your mind to the realities of the Bio Tech world. And yes, we do need to drill here drill now, as I have consistently said for many years.

Ethanol is a different animal entirely. Ethanol has huge subsidies and mandates. Ethanol is an enviromental and economic disaster. We agree that ethanol is a subsidy king.

I do not know the history of oil refinery development. Even if some subsidies were provided, the refineries are not subsidized now. It is very difficult to build new refineries or expand existing refineries. If you look broadly, you will see that the oil and natural gas industries pay very large amounts of taxes and are subject to onerous regulations. I do not doubt that some tax breaks still exist. However, on balance the taxes and regulations far exceed any subsidies. The industry has begged to expand but the rats have only put up obstacles.

The left indicates that the gulf wars were a subsidy to big oil. This ridiculous statement is laughable. The military has always protected commerce in any form. Iraq wanted to sell oil so the wars were not necessary to stop Iraq from hoarding oil. Oil was the source of Iraq’s wealth, enabling it to wage war on its neighbors.

I do not understand your hostility to the oil industry. This industry has developed innovative products that support our standard of living. The product is difficult to find, develop, and deliver. The industry pays far more in taxes than profits. The industry adheres to strict environmental standards (in this country). Let the left trash this industry. We should thank the industry for its wondrous products.