In my column in Sunday’s News Sentinel, I supported elimination of the $4 billion in annual tax subsidies enjoyed by the oil industry. It would be a good start toward solving the financial crisis facing the federal government.
My suggestion prompted a call from a spetical reader who wanted to know specifically what tax breaks the oil industry enjoys that aren’t available to other industries.
It’s a good question and I appreciate the call. I was referring to tax breaks of various kinds, some are specific to the oil business and some are also available to other kinds of companies.