The left loves to bash the fossil fuels industry, consumers love to accuse the sector of gouging customers, and politicians just see a group to target and tax.
But why are the oil and gas companies vilified so much?
Just think about it: a company invests in equipment and manpower to extract oil from the ground, then they pack, transport, refine, ship, and sell the energy source to customers for a few bucks a gallon. That’s remarkable.
Here is another interesting statistic: the Texas oil and natural gas industry forked over $14 billion in state and local taxes and royalties. This represents $38 million per day to pay for schools, construct roads, fund universities to indoctrinate students, and cover the cost of first-responders.
If leftists hated the crude companies so much, then why take their money?
Texas Oil and Gas Association president Todd Staples said in a statement:
“As we celebrate 100 years of oil and natural gas, we are proud to report that the Texas oil and natural gas industry has paid $133 billion in state and local taxes and state royalties just since 2007. Last year alone, the Texas oil and natural gas industry paid the equivalent of $38 million a day to fund our schools, roads, universities and first responders. More tax and royalty revenue from the oil and natural gas industry means our lawmakers have more to work with to meet the needs of our growing state.
In addition to taxes and royalties, Texas oil and natural gas companies are investing billions in advanced technologies that are protecting and improving our environment – proof that we can grow our economy, protect the environment and enhance our energy security at the same time.”
Thanks, Big Oil.
The US is a police state now. Americans should be out in the streets with pitchforks and torches, but instead they would rather shut up, cover their ears, and put their heads in the sand.
Weird.