Why Paul Ryan Loves Oil Subsidies

Paul Ryan thinks converting Medicare to a voucher system in order to save money is OK, despite the fact that vouchers will not keep up with cost, and Seniors will end up paying higher and higher bills over the years.  That’s all part of the Paul Ryan plan to eliminate the deficit, a plan praised in the right-wing media for being “bold” and “brave.”  Alas, Paul Ryan loves tax subsidies for the oil, mining and energy industries, subsidies that help drive our deficits higher.  Mr. Ryan voted as recently as February to keep those precious subsidies for the oil industry, currently suffering from record profits. 

Why does Paul Ryan love oil industry tax subsidies, but seemingly has no problem bankrupting seniors?  Let’s just say he’s conflicted.  From the Daily Beast:

It turns out a constituency within his own personal investments stood to benefit from those tax breaks, Newsweek and The Daily Beast have learned.

The financial disclosure report Ryan filed with Congress last month and made public this week shows he and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that benefit from the tax subsidies in Ryan’s budget plan.

Ryan’s father-in-law, Daniel Little, who runs the companies, told Newsweek and The Daily Beast that the family companies are currently leasing the land for mining and drilling to energy giants such as Chesapeake Energy, Devon, and XTO Energy, a recently acquired subsidiary of ExxonMobil.

Everyone who is surprised at this turn of events, a Republican actually voting in his own interest rather than in the interest of the country, please raise your hands.  Give me a break.  House Republicans are currently working hard at keeping conflict of interest alive.  I’m sure Paul Ryan, the Republican fair haired boy, would approve. 


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1 thought on “Why Paul Ryan Loves Oil Subsidies

  1. I saw this and had not had time to get to it so thanks! These stories need to be told of what a true weasel paul ryan is. Even though he has worked tirelessly against the 1st congressional district and Janesville, WI in particular we now know he works hard to make sure his “in-laws” are making good money.

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