On Monday, Cenk Uygur of The Young Turks, eager to once again demonstrate his leftist bona fides, issued a tweet celebrating Hurricane Harvey for destroying millions of dollars invested by oil companies.
Somehow Uygur felt that the oil companies had committed some grave sin causing climate change that was returned measure for measure by the hurricane.
Less than 20 minutes later, Uygur doubled down:
Uygur is so absorbed in his leftist perspective on the environment that he said of Al Gore’s documentary, An Inconvenient Sequel: Truth To Power, which was a sequel to Gore’s fact-challenged An Inconvenient Truth, (see here, here, and here for documentation of the numerous falsehoods), “I care about people seeing it because I want them to get educated on the facts.”
Uygur’s hatred of oil companies is so deep that he manufactures facts that don’t exist. As Chris Prandoni noted for Americans for Tax Reform, Uygur once stated, “It’s estimated that every year the United States Government gives approximately 4 billion dollars in tax subsidies to oil and gas companies.”
Fact: Unlike other sources of energy—wind, solar, ethanol, etc—the government does not give oil and natural gas producers any grants or loan guarantees, nor does it impose any consumption mandates. Since oil and natural gas companies receive none of the above actual subsidies, Uygur targets deductions these companies can write off on their income statement.
Uygur also asserted: “Meanwhile, we all know that these companies are pulling in absurd profits. Last year alone, the top five oil and gas companies earned a total of $77.4 billion in profits.” Prandoni summarily dismissed that claim:
Fact: Implicit in this statement is the sentiment that oil and natural gas companies are not “paying their fair share,” and gaming the system to achieve profits. This could not be farther from the truth: paying nearly $100 million a day in income taxes—and $300 billion in total income taxes between 2004-2008—the oil and natural gas industry tax expenses averages 48 percent, compared to 28 percent for other S&P Industrial companies. This number does not include an additional $60 billion in non-income taxes or $350 in excise taxes paid on petroleum products.
But hey, facts are unimportant when you’ve got an axe to grind. For leftists, the oil companies have been a target for decades, and Uygur knows his audience.
But facts? They’re an inconvenient truth.