Comment by DoctorNo

Entered on: 10/11/2008 7:02:49 AM

A complete accounting of Big Oil puts Gasoline subsidies between $5.60 a gallon of gas and just north of $15 a gallon. $558 billion to 1.7 trillion dollars.
-The Center for Technology Assessment.

The $4 we pay at the pump is only a down payment.

Your income taxes pay the rest.

Comment by DoctorNo

Entered on: 10/11/2008 6:58:51 AM

Little difference in practice that Big Oil gets the 51 cent ethanol subsidy for blending a little bit of gasoline in ethanol.

On top of that, corporations get gasoline at the pump for about $4 while our income taxes subsidize Big Oil to the tune of about $5.60 per gallon of gas.

It seems the $4 we pay at the pump is only a down payment.

Source: The Center for Technology Assessment. I add, their study did not add in the costs of the invasion and occupation of Iraq and the Afghanistan, which is now at about 4 trillion dollars, even if we pulled out tomorrow.

Take away Subsidies, and methane (NG) and Ethanol would be king of transportation fuels.