Ohio Farmers Union

Serving Family Farmers and Consumers Since 1934



United to Grow Family Agriculture Since 1934

  • About
    • The Farmers Union Triangle
    • Vision
    • OFU Leadership
  • Issues
    • 2020 Virtual Lobby Days
    • OFU Policy & NFU Policy
    • 2019 Lobby Day Registration
    • Get Involved!
    • NFU Climate Leaders
  • Education
    • 2019 OFU Essay Contest
    • Ohio Farmers Union Scholarships
    • Farm Safety
    • Renewable Energy Curriculum
  • Insurance
    • Hastings Mutual Insurance Co.
    • Health & Other Offerings
    • Ohio BWC Group Coverage
  • Join Us
    • Member Benefits
    • Insurance
  • Blog

NFU: Oil Subsidies Must End

May 2, 2011 By Ron Sylvester Leave a Comment

WASHINGTON – National Farmers Union (NFU) President Roger Johnson sent a letter to U.S. Senate and House of Representatives leadership today urging elimination of tax subsidies for the oil industry.

“At a time when most Americans are pinching pennies, oil companies are posting record profits,” said Johnson. “For example, Exxon Mobil recently reported first quarter earnings of $10.6 billion, a 69 percent increase over profits for the same quarter last year. Other oil companies have posted staggering first quarter profits as well.”

Eliminating subsidies for the oil industry would save nearly $40 billion over 10 years.

“Money saved from eliminating tax loopholes for oil companies should be used to take action to provide consumers relief at the pump by investing in biofuels,” said Johnson. “According to a Michigan State study, increased ethanol utilization can produce a positive net impact, ranging from $55.60 to $193 for individuals and $68.50 to $404.50 for a family of four. Investment in biofuels production and infrastructure makes sense for a stronger economy, greater national security, and a cleaner environment.”

Share this:

  • Twitter
  • Facebook

Filed Under: Blog

Leave a ReplyCancel reply

  • Email
  • Facebook
  • RSS
  • YouTube

Latest News from the Ohio & National Farmers Union

OFU Summer Board Meeting & Member Lunch

Ohio Farmers Union members are invited to participate in the Summer Meeting of the Board of Directors and a luncheon and farm tour on August 19. This … Read More

Ohio Farmers Union Says Vote ‘NO’ on Issue 1

August election would severely erode voter rights in Ohio COLUMBUS – The Ohio Farmers Union is urging Ohio voters to reject state Issue 1 on the A … Read More

2023 County Fair Schedule

Ohioans can start planning visits to all of their favorite fairs across the state. The Ohio Department of Agriculture today released the official … Read More

2022 OFU Special Orders

Annual Policy Priorities For the eighty-eighth year, the Ohio Farmers Union has established the organization's public policy priorities at the … Read More

Check Out the Entire Blog

NATIONAL FARMERS UNION

Click to Take Action



Contact

Ohio Farmers Union
P.O. Box 363
1011 N. Defiance Street
Ottawa, Ohio 45875
Phone: (419) 523-5300
Toll Free: (800) 321-3671

Copyright Ohio Farmers Union© 2023 | Site by: RCS Communications