I dug into data about Amplify Energy, which owns the leaking pipeline near Orange County. It turns out their subsidiary has received $20M from taxpayers to prop up unprofitable oil wells, with $11M more on the table. Where's the help for small businesses hurt by this disaster?
@RepKatiePorter Why are we subsidizing fossil fuel companies? Why are we subsidizing unprofitable fossil fuel companies? Why are we subsidizing dangerous/damaging fossil fuel companies?
@BowmanNancy @RepKatiePorter So that we only pay an average of $3.50/gal prices for gas rather than $5.60 average that Europe pays. People driving gas guzzlers would be up in arms if they had to pay the real cost of gas. There’d also be tons of pressure to make more fuel efficient vehicles.
@BigCatFan_Fast @BowmanNancy @RepKatiePorter Europeans don't pay more b/c their gas is more expensive. It is heavily taxed as a major revenue source & as an incentive to buy fuel efficient cars. That's why some of their cars offer certain engines only over there & not in the US.
@CALUSA18 @BigCatFan_Fast @RepKatiePorter same in Canada - higher taxes
@BowmanNancy @CALUSA18 @BigCatFan_Fast @RepKatiePorter Although, if oil companies had to "pay their way" to do business - like most businesses - gas might be $5.60 without the high taxes. It sucks, but one way or the other, they'd get their money.
@BriereBear @BowmanNancy @BigCatFan_Fast @RepKatiePorter To have the proper effect, taxes on oil companies s/b as surtaxes on profits, so they can't be passed on to consumers.