Boyda votes to end subsidies for Big Oil

We want American businesses to make a profit. But we have a pair of words for it when a company jacks up prices for consumers just to line the pockets of their executives: price gouging.

The big five oil companies recently reported record profits for 2007, with ExxonMobil earning $40.6 billion - the largest corporate profit in American history. That’s earnings of more than $111 million a day or $77 thousand dollars a minute! While oil company profits have quadrupled, high energy prices continue to squeeze American families – gas prices have skyrocketed and home heating oil has jumped along with other household costs.

Record profits tied to the rhetoric of "We have to increase prices because of lack of supply" is ludicrous. Big Oil is taking us for a ride- and at $3 a gallon, it's a ride that's too expensive for a big chunk of Americans.

Sad thing? Even as they gouge us to the point of record profit, we, the American people, are giving them subsidies- yes, we've been giving them our tax dollars.

In a historic vote in late February, Congresswoman Nancy Boyda joined with a bi-partisan majority to end tax subsidies to Big Oil and reinvest the money into renewable energy.

'Course, the bill didn't just do the commonsense thing that is ending tax breaks to companies seeing HUGE profits, it also directly infused money into the Kansas economy.

Boyda said, "Renewable energy offers tremendous promise for our state's economy. Kansas has the soil to grow crops to be converted to biofuels, the skies to harvest wind energy, and the research base to nurture new technology. Now all we need is a national commitment to energy independence. That's what today's bill is all about. It should be called the ‘Kansas Economic Development Act’ – that's how important it is to our businesses and communities."

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“I can understand why someone from New Jersey did not vote for this bill, but I cannot fathom why anyone from Kansas would vote against our own best economic interests. It’s really disappointing.” said Boyda. “I have spoken with hundreds of people during 40 Congress on Your Corners throughout the Second District of Kansas. I have yet to hear even one person say they believe their hard-earned tax dollars should go toward helping ExxonMobil, or any of the big oil companies, earn record profits.”

Of course, you haven't, Nancy- because no sensible person thinks our hard-earned tax dollars should be given to businesses that obviously don't need them.