Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Oil

Menendez Launches Big Oil Subsidy Tracker

The tracker as it appeared at 10:50 a.m. Eastern on May 25.

As we head into the Memorial Day holiday, and move from one congressional recess to another [PDF], Senator Bob Menendez (D-NJ) has given us something to do with our extra free time: Watch taxpayer subsidies to big oil climb higher and higher.

The clock, dubbed a STOP watch (for "Stop Taxpayer Oil Payouts"), tracks the amount of money that has flowed through a tax loophole for oil companies since the spring of 2010, when the Senate failed to close it even as the Deepwater Horizon wreck spewed crude into the Gulf of Mexico.

According to the senator's website, "The Big 5 oil companies are raking in more than $76.00 a second" thanks to the tax loophole. That means that over $24 million will have been added to the tally after the long weekend.

You can read Menendez's press release here.

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

Tuesday’s Headlines State the Obvious

Governing highlights some of the essential state and local transportation votes that will be on the ballot in November.

October 8, 2024

Six Reasons Why a Big Truck, SUV or Van is More Likely to Kill You in a Crash

We knew massive vehicles were killing us, but some of the reasons why might surprise you.

October 8, 2024

Turn and Face the Strange Ch-ch-changes: Observations and Recommendations from a Week Without Driving

I used my age-appropriate tricycle and quickly discovered that a line on the side of the street is not adequate to let me feel safe riding on a moderately busy street.

October 7, 2024

Monday’s Headlines Pick Up Where They Left Off

Auto designers will have to rethink their approach to pickup trucks in the electric age, according to the BBC.

October 7, 2024

Is Amtrak’s Big Dig Harming West Baltimore’s Black Neighborhoods?

Amtrak's single biggest infrastructure project got hit with a civil rights complaint. How should sustainable transportation advocates get involved in the conversation?

October 7, 2024
See all posts