The American Petroleum Institute, a umbrella lobbying group for the oil industry, has new ads out thanking GOP members of the super committee for preserving billions in oil subsidies. The ads, posted on the industry group’s YouTube page last night, thank GOP super committee members Sens. Rob Portman (OH) and Pat Toomey (PA) and Reps. Dave Camp (MI) and Fred Upton (MI), and for opposing efforts to eliminate wasteful taxpayer subsidies to oil companies. API, which represents ExxonMobil, Shell Oil, Chevron, and other major oil corporations, calls the attempt to cut the subsidies “new job-crushing energy taxes!” Watch a sample of the Orwellian ads below:
As NPR has reported, the oil industry is moving into hyperdrive to crush any attempt to get rid of its subsidies.
Meanwhile, the world’s largest oil companies recently posted quarterly profits of $24 billion.