The US exports almost a half million barrels of gas a day.

I forgot to link a URL...
http://www.tutor2u.net/blog/index.php/economics/C156

Can someone provide a link of the actual subsidy that this industry recieves and how does it compares to other commodities?

FredHayek wrote:

Soulshiner wrote: Thanks for the link, very informative.

The OP link talks about how we've been exporting gasoline since 2008 and we recently hit a record 430,000 barrels of gasoline exported a day. There is a huge supply of gasoline in the US and demand is down 10% from 2007 according to the Money article. I am questioning how gas prices can spike when there is enough of a supply to export almost half a million barrels a day. I also am questioning since there is such a supply, why the companies that are recording record profits are being given such huge tax breaks.

"record profits"? Only in total amounts, not as a percentage of investment. Oil companies make less than Big Pharma and other industries.

Record oil profits? Strange that they should make more money under Obama than the oil men "W" and Cheney. Guess we know who Texaco will support in 2012.

Well stated and easily used in News pieces to incite disagreement within a nation concerning "profits".