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Wednesday, July 18, 2012

Struggling New Mexicans Demand Leaders End Outrageous Tax Giveaways to Big Oil Companies

Following release is from OLÉ Education Fund is a 501(c)3 non-profit organization committed to empowering and improving the economic well-being of working New Mexicans.

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Billboard campaign in Albuquerque highlights how taxpayers foot the bill for billions in big-oil tax breaks

New Mexicans who are struggling to fill their tanks today unveiled a billboard campaign calling attention to Big Oil receiving $4 billion in tax breaks despite raking in $137 billion in pure profits in 2011 alone.

Standing under a billboard featuring a frustrated driver and the message “Big oil gets billions in tax breaks … we pay the price. Why?!” New Mexicans called on elected officials and candidates to take a stand and outline their positions on whether they support preserving tax giveaways for the oil and gas industry.

The billboard campaign is sponsored by the Organizers in the Land of Enchantment (OLÉ) Education Fund.

“We pay high prices and the oil and gas companies get away with huge profits at our expense,” said Luis Garcia who works as a waiter in Albuquerque. “What’s worse? They also get $4 billion in tax breaks rubber stamped by Congress. Oil companies are robbing us at the pump and on tax day.”

Representative Steve Pearce, who represents southern New Mexico in Congress, has voted to preserve these tax giveaways for big oil 8 times since February of 2011 alone.

U.S. Senate Candidates Heather Wilson and Martin Heinrich have issued the following statements on the issue:

Heather Wilson: "Heather Wilson supports a balanced long-term energy policy that will create American jobs and reduce energy prices."

Martin Heinrich: "At a time when big oil companies are pulling in record profits, taxpayer dollars should not be padding the deep pockets of CEO's."

  “It’s nice that we have something from our Senate candidates, but New Mexicans deserve to know what Heather Wilson and Martin Heinrich’s clear positions are on these tax breaks,” said Marie Aragon, resident of Albuquerque. “And with these statements, we’re not quite there yet.”

The billboards aim to call attention to how ordinary New Mexicans are paying the price for oil-company tax breaks and educate the public about politicians who are consistently voting to preserve tax breaks for an industry that raked in $137 billion in profits in 2011 alone.

July 18, 2012 at 02:38 PM in 2012 NM Senate Race, Candidates & Races, Children and Families, Corporatism, Taxes | Permalink

Comments

I spoke to a Republican friend of mine, and he said he wanted to know, not the profits, but the "ROI," or Return on Investment. I ask that the OLE' research this. We have to be able to answer the Republican's questions too.

Posted by: Ellen Wedum | Jul 20, 2012 8:36:32 AM

No tax breaks for oil companies.

Posted by: Jacqueline Hand | Jul 29, 2012 9:19:34 AM

Ask your Republican friend why he or she might not also ask about the "ROI" of coal fired power plants, if you include the exorbitant health costs to tax payers, hospitals etc. and the environmental damage costs...climate change disaster costs etc. If we are going to play with numbers, lets bring ALL the numbers to the forefront.

Posted by: Jo | Jul 29, 2012 3:38:00 PM