The American Petroleum Institute is pulling out all the stops to protect over $100 billion in subsidies, tax breaks, and royalty "relief" for the oil and gas industry. The latest gambit is to link oil company profits with pensions for teachers and public employees. The message is textbook toxic stupidity: support our tax cuts or your pensions will suffer.
WASHINGTON — With several major oil companies poised to report big first-quarter profits this week, the oil industry's largest trade group on Monday rolled out a study revealing that those gains translate to big benefits for teachers, firefighters and other state pensioners.
In other words, what is good for the oil and gas industry is good for America. Another word for it is bullshit.