Oil & Gas Subsidies
Congresswoman Alexandria Ocasio-Cortez (D–NY) claims that oil and gas “enjoy an obscene wealth of tax giveaways in this country.”
IN FACT, federal “tax giveaways” and other “subsidies” for oil and gas actually penalize their production at a rate of $0.002 per gallon. Oil and gas are also penalized by excise taxes and regulations, which drive up costs and impoverish consumers.
