Subsidies for oil and natural gas began in 1916 with the federal government creating its first tax breaks for oil and gas production. After almost 90 years of taxpayer-funded subsidies, the oil and gas industries are flourishing but taxpayers still continue to contribute billions annually to the energy sector.
Instead of requiring energy companies to stand on their own feet, the government has set up a perpetual subsidy system. Large energy companies act as if they cannot survive without taxpayer handouts, perpetuating an endless cycle of subsidies. The government should stop giving taxpayers' dollars to powerful energy companies.
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