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It turns out taxpayers have a hand in oil companies like BP, whose leak continues to hemorrhage into the Gulf of Mexico. A recent New York Times article reveals that the oil industry is one of the most heavily subsidized by the U.S. government, with tax breaks at mostly every stage of the oil process. On average, oil companies receive about $4 billion a year in tax breaks, says the article. BP, for instance, rented the drilling platform with the current spill crisis for only 30 percent of the cost. Seventy percent was covered by tax breaks—a write-off of more than $225,000 for each day since the beginning of the lease.

Read the full story at NYTimes.com.

Everything you’d ever want to know on oil and going green.

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