Senate Republicans block bill to end oil subsidies
March 29th, 2012
12:08 PM ET
2 years ago

Senate Republicans block bill to end oil subsidies

(CNN) - Senate Republicans Thursday blocked a Democratic measure championed by President Barack Obama to end tax breaks for the country's major oil companies.


Filed under: Congress • gas prices • President Obama • Senate
soundoff (47 Responses)
  1. demwit

    But, but.., we want to pay more for gas now so we don't have to in 2050!! Right??

    March 29, 2012 12:15 pm at 12:15 pm |
  2. Biggge

    The GOP blocks Bill to end to end tax breaks for the country's major oil companies. Again we know who side they are on...
    Obama 2012.....

    March 29, 2012 12:16 pm at 12:16 pm |
  3. grrace

    I hope the President VETOS every Republican scrap that comes across his desk from now on. Because this is WRONG! And, I don't want to hear squat about the "budget' or the "deficit" or "we're broke" from another single Republican for as long as I LIVE, because they really DON'T CARE about ANY of it!

    March 29, 2012 12:18 pm at 12:18 pm |
  4. Jack from Illinois

    Every Republican who voted against ending oil company tax breaks ought ot be required to include that fact on every piece of campaign literature.

    March 29, 2012 12:19 pm at 12:19 pm |
  5. Pam from Iowa

    Of course they did!
    Too much BigOil lobby money lining their pockets to remove those subsidies!!!

    March 29, 2012 12:25 pm at 12:25 pm |
  6. heavyhorse

    Who's yer daddy repubs...big oil

    March 29, 2012 12:25 pm at 12:25 pm |
  7. Linda

    Oil companies are the GOP's bread and butter through their large monetary contributions, so there is no surprise here. Democrats & independents need to vote this November to silent and change this right wing madness they are bestowing upon this country.

    March 29, 2012 12:26 pm at 12:26 pm |
  8. John

    The Republican Party Is For the Rich and big Business and NOT for the Middle Class and the Poor and the old.

    March 29, 2012 12:27 pm at 12:27 pm |
  9. Moderate Sean

    The Party that represents big business and corporations and could careless about the average American. Hey, Republicans, you are in for a rude awakening come November. This moderate won't pull one single lever for a Republican in this upcoming election!!!

    March 29, 2012 12:27 pm at 12:27 pm |
  10. geg

    there should be a law[no exporting oil from north america] why drill baby drill if there just going to export it to china, it don,t make sence

    March 29, 2012 12:28 pm at 12:28 pm |
  11. @demwit

    The oil companies have already stated under oath that ending the subsidies will not substantially affect their profits. We can't afford to keep subsidizing a massively profitable industry in the same way that we can't afford to continue subsidizing the poor without substantial reforms to Medicare, Social Security, and SNAP (formerly food stamps).

    Government subsidies need to be drastically reduced across the board. This would simply be a good starting point.

    March 29, 2012 12:30 pm at 12:30 pm |
  12. kevin

    Remember in November

    March 29, 2012 12:31 pm at 12:31 pm |
  13. B

    Of course they did, who else would cover the corrupt Republican reelection campaigns.. They are in bed together and everyone knew this would happen.

    People also feel that the Oil Companies are raising gas prices to make Obama’s reelection more difficult as a favor to their buddies in Congress.

    The Republicans now own the Supreme Court as you will see in June by the destruction of the Health Care Bill.

    Money and power corrupt everything and will destroy our democracy if it keeps up.

    March 29, 2012 12:32 pm at 12:32 pm |
  14. honeybe

    Oil companies made billions in profits last year. Shame on republicans for continuing to support subsidies for them.

    March 29, 2012 12:33 pm at 12:33 pm |
  15. Voice of Reason

    Funny how the GOP will scream and shout about some grandmother on a fixed income trying to get rent assistance, and act all self-righteous and pious about allowing people access to affordable healthcare – all on the premise that its fiscally irresponsible. That these people are just a bunch of freeloaders...

    And then with the same breath, they defend multi-billion-dollar tax breaks for the most profitable companies in the world.

    I just checked: There's $12 dollars cash in my wallet. That's exactly $12 more than EXXON paid in tax last year. These Republicans are hypocrites.

    March 29, 2012 12:36 pm at 12:36 pm |
  16. Voice of Reason

    GOP = bought and paid for by oil companies. I hope they kept the reciept, cause the TP and a lot of GOP are going to be kicked to the curb come November.

    March 29, 2012 12:38 pm at 12:38 pm |
  17. Pander Bear

    Wow, just wow.

    March 29, 2012 12:40 pm at 12:40 pm |
  18. RDA1009

    Funny how you Obama supporters fail to realize that there isn't a corporation or company out here that pays taxes. ALL taxes will be deferred to the consumer.....How's that going to help the poor or middle class?? So much for HOPE and CHANGE!!

    March 29, 2012 12:40 pm at 12:40 pm |
  19. JIm

    Before you slam the Republicans learn the facts. Obama whats to establish different account and tax rules for oil companies than every other company has. You can't pick a business and say you can't write off loses or depreciation while every other company does it. In the end the costs will just be pushed to consumers.

    March 29, 2012 12:41 pm at 12:41 pm |
  20. Scef

    The repubs just don't get it. They are on the wrong side of every issue, the ex/impbank, the transportation bill, the VAWA, ACA, and now this. The American people have had enough of the repubs declaring war on them. Welcome tn obscurity come Nov.

    March 29, 2012 12:43 pm at 12:43 pm |
  21. Dee1030

    Who's suprised? Republicans are against the minimum wage and are for slashing it, against funding education, against teachers, nurses, fire fighters right to collective bargaining. So it amazes me how they have support from so many brainwashed yahoos.

    March 29, 2012 12:44 pm at 12:44 pm |
  22. Murlin

    So we already know the GOP dosnt care about us.
    They are against anything that would make the Dems look good.
    Gas is up over $1.00 a gallon in the last 30 days yet a barrel of oil is down from $106 a barrel to $103 a barrel
    This will make for more record profits for big oil.
    Yet the GOP is still unable to end a tax break big oil dosnt need.
    Big oil threatens us that it will cause prices to rise, but look at the pump priceses are already going up and crude prices are going down and people belive it.
    Reseves or gas and oil in the USA are rising because we dont use all of the oil we produce and import.
    So if oil is a supply and demand as is claimed the cost of gas should be going down.
    People need to start looking at the whole picture (who really runs america) We have been sold out
    to anyone with a buck to give our politicians the GOP sold out first but the dems are not far behind.

    March 29, 2012 12:44 pm at 12:44 pm |
  23. Dominican mama 4 Obama (the real one)

    Gee, did they state their reasons why?

    March 29, 2012 12:45 pm at 12:45 pm |
  24. david

    With BIG OIL making RECORD quarterly profits, I cannot understand why the Republicans would want to give them "tax breaks" in the form of government subsidies unless they need more contributions for their upcoming politcal campaigns. What do you think ??

    March 29, 2012 12:45 pm at 12:45 pm |
  25. Thomas

    The only way the republicans can win in November is keeping gas prices high.

    400 dollars a gallon gas for the military in Afghanistan , thats what the tax payers are paying .

    March 29, 2012 12:46 pm at 12:46 pm |
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