Jesse C. Moore: Should the United States subsidize fossil fuel companies?

  The world needs a reliable supply of energy. To ensure that, many countries have granted subsidies and tax breaks to fossil fuel companies to help develop energy resources. However, with the concern over our carbon emissions and over the economic crises that many countries are facing, the wisdom of continuing those subsidies needs to be examined. The fossil fuel companies are now quite profitable. The five most profitable companies in the United States are Ford ($20 billion), Microsoft ($23.2 billion), Apple ($25.9 billion), Chevron ($26.9 billion), and Exxon Mobil ($41.1 billion). The two most profitable companies are oil companies with Exxon Mobil greatly exceeding the profitability of the other four.