cash being fungible = the same dollar bill given to them as a subsidy is the same dollar bill given to shareholders in the form of dividends, buybacks and appreciation in share value
The tawny emperor (Asterocampa clyton)
Ice Age National Scientific Reserve Unit, Wisconsin, USA
2020-06-29 _F2A9706aaa
Govt subsidies to big oil are theft of taxpayer property by politicians:
Cash is a fungible good.
Therefore It can be said that Democrats’ and Republicans’ subsidies to shell were the free and clear profit they made and subsequently transferred to rich shareholders. In other words, Shell laundered a handout from Washington to the rich. How much did you get?
“BREAKING NEWS: Shell reported its highest profits in 115 years this week, all while raking in billions in subsidies from your taxes.
Sign the petition to end fossil fuel subsidies!”
Quote:
“Shell just announced that it raked in $42 billion in profits in 2022. This comes a day after ExxonMobil released its profit report for last year, a record-shattering $56 billion.
While the planet burns and consumers are slammed with skyrocketing energy prices, we all are footing the bill for subsidies to the fossil fuel industry, totaling $5.9 trillion in 2020 alone!
It’s ridiculous — we are literally paying to destroy our own planet. Yet virtually all governments around the world are complicit in this catastrophic swindle.”
Most Washington Politicians are shareholders in Big Oil:
“Asking our political representatives to help us take back our planet is like asking the fox to help us take back the hens that he stole !”
“Oil and Gas Money to Congress”
Subsidies to Big Oil are outright, flat-out theft. Our politicians are merely laundering taxpayer resources through corporations that will pay it to them as dividends, buy backs and growth in stock value.
“Members of Congress Own Up to $93 Million in Fossil Fuel Stocks
As dire climate change projections mount, one in four members of Congress is invested in oil, gas, or coal interests.”
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