The Hill News

In September 2010, engineers successfully capped BP’s ruptured Deepwater Horizon oil rig, after it spilled estimated 4.9 million barrels of crude oil into the Gulf of Mexico. This month, one year after a milestone in the worst environmental disaster in America’s history, its effects continue to devastate the region’s economy and the families who live there.

Adding insult to these American’s injuries, BP was able to write-off a whopping $13 billion of its clean-up costs on its taxes, forcing American families to pay the tab for the damage the oil company created.

This summer, an ExxonMobil pipeline rupture polluted at least 10 miles of Montana’s Yellowstone River. And like BP, lawyers and politicians will make sure that Americans pay the damages by permitting the world’s most profitable corporation to write-off clean up costs on its taxes.

That’s in addition to the $15 billion Americans pay every year in taxpayer-funded subs! idies and special tax breaks to the oil and gas industry.

Read more...