Why are they subsidized? ExxonMobil profits rise 41% to $10.33 billion last quarter.
http://situationroom.blogs.cnn.com/2011/10/28/blitzers-blog-exxonmobils-profits-soaring-why-are-they-subsidized/?hpt=sr_mid
"ExxonMobil is doing just fine, and that is good. It employs thousands of hardworking people, and I’m happy about that.
"But these impressive profits also raise an important question: Why should hardworking American taxpayers continue to subsidize ExxonMobil? Like other oil giants, ExxonMobil continues to get hefty tax benefits."
The old answer for both Big Oil and Big Pharma is that we won't get any more oil or drugs if they aren't subsidized. Remember, this profit is after R & D write-offs. And is only quarterly.
Arf