Big Oil Wants to Keep Its Tax Breaks Despite Very Profitable Winter

www.americanprogress.org/issues/green/news/2014/05/05/89012/big-oil-wants-to-keep-its-tax-breaks-despite-very-profitable-winter/
"The big five oil companies made a combined profit of $23 billion in the first quarter of 2014, and had cash reserves of $68 billion. They do not need the $2.4 billion in annual special tax breaks that could otherwise pay for approximately 658,000 Pell Grants for college students or 42,000 additional public school teachers; that amount of money could also increase federal funding for the National Cancer Institute by 50 percent. Any of these investments would benefit Americans far more than the handouts to oil companies, particularly when those companies use one-third of their profits to buy back their own stocks, and their five CEOs have a combined salary of $89 million annually."