what do oil companies use the money they get from subsidies?

2

Answers


  1. 0 Votes

    They don’t “get money.” Oil companies, and many many others, receive tax breaks for various investments. The money they save thereby is spent on whatever they spend money on.

    Most of these tax benefits are available to all or most industry in the US, though some, such as intangible drilling costs, are specific to the oil industry. See the link for an explanation.

  2. 0 Votes

    Oil companies get an extra 4.4 billion in tax breaks that goes towards their bottom line — they get hundreds of billions annually in profits. They also get subsidies to perform alternative/clean energy research, but these subsidies are research subsidies that go directly towards the designated research.

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