Big Oil subsidies are, simply put, indefensible
Conservatives who are dead set against making any investments in new technologies that can help propel our country and its economy forward are famous for using the argument that this is “picking winners and losers”. The irony is that, in order to even be considered for federal government subsidies, new technologies — like renewable energy projects, for example — must have already proven themselves as winners that are simply in need of a kickstart to make them affordable and profitable.
With negotiations over the upcoming sequester — automatic, across the board budget cuts — ready to dominate the headlines, both Senate Majority Leader Harry Reid and the Obama administration are suggesting that it’s time to end one the most glaring examples “picking winners” that we have in this country today: $4 billion in subsidies to Big Oil companies.
More after the jump.