Today I had the below letter responding to this article in the The Santa Fe New Mexican:

Readers should know to be leery of any group that uses "For Common Sense" as part of its name, and they should understand that more often than not it possesses very little of it.

A case in point is the group Taxpayers for Common Sense and its absurd assertion that governments subsidize the oil and natural-gas industry. The truth is that this industry contributes some $86 million a day to the federal government in royalty payments, rents and bonuses. Tax provisions available to this industry are legitimate deductions for business costs, to which other businesses are entitled. And oil and natural-gas companies pay effective income tax rates that are, on average, considerably higher (41 percent) than thos... more »

When oil companies do well, who benefits? Is it solely the companies' management? Or do average investors benefit as well? Consider this question:

What percent of U.S. oil companies' stocks are owned by corporate management?

Test your Energy IQ to answer this question and others, and watch the video to see what other people thought about U.S. oil company stock ownership.

So if you're wondering who owns the oil companies chances are--you do. In fact, only 1.5 percent of company shares are owned by industry executives.

It's a common misperception that oil executives are the only benefactors of industry success. Instead, the bulk of oil company benefactors are hardworking men and women across America who invest in mutual fund accounts, IRAs or personal retirement accounts. If... more »