Who has publicly stated that oil companies do not need tax credits?

  • 74% of the American public (27% people answered this)
  • Top executives at each of the 5 Big Oil companies (18% people answered this)
  • President Obama (0% people answered this)
  • President Bush (0% people answered this)
  • All of the above (54% people answered this)

11 people answered.


Correct answer is: All of the above

President Bush, President Obama, and top executives at each of the 5 Big Oil companies BP, Chevron, ConocoPhillips, ExxonMobil, and Shell, have all stated publicly that oil companies do not need tax credits. An MSNBC News poll showed that 74% of the American public would like to eliminate tax credits for the oil and gas industries. And yet, the oil companies continue to receive these tax breaks. Opposition from the majority of the American public, Congress, and our last two Presidents has not been able to resolve this issue. In our democracy, how could this be?


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For the past decade, the big 5 oil companies BP, Chevron, ConocoPhillips, ExxonMobil and Shell have enjoyed more than $1 trillion in profits. Last year alone, these oil giants made a record-high $137 billion in profits. At the same time, Big Oil continues to benefit from billions in taxpayer-funded government handouts, while paying lower tax rates than most US taxpayers. This tax money could be used for countless other applications. Why do oil companies continue to be subsidized?
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