Big Oil's big subsidies
Oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process. BP, for example, was getting a tax deduction of $225,000 a day for renting the Deepwater Horizon drilling rig.
The New York Times
Prohibition's continued hold
In the Bible Belt, the fight over Prohibition goes on: One in nine counties in the U.S. still prohibits the sale of alcohol, but in Texas, Tennessee, and Kansas, dozens of “dry” counties have voted to go “wet” in recent years.
Time out for the World Cup
Work in European and South American nations comes to a virtual standstill during World Cup games. The Netherlands sent all employees home at 1 p.m. so fans could watch its team play; Italian auto workers went on strike rather than miss a game; Brazil closes all offices and schools. All told, the Cup’s TV audience has totaled 26 billion viewers.
The value of a stiff scotch
Diageo, the maker of Johnnie Walker whisky, has dedicated 2 million barrels of whisky in Scotland to its employee pension fund. The whisky, valued at $645 million, will ensure that retirees get a check even if the company were to go bankrupt.
The New York Times
States raise billions in taxes and fees
States, which may not run deficits, have been busy enacting tax and fee hikes to balance budgets. Over the last two years, 36 states have raised $25 billion in new taxes and fees.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How academia's liberal bias is killing social science
- Diagnosing the Home Alone burglars' injuries: A professional weighs in
- 43 TV shows to watch in 2014
- Why Pakistan won't hunt down the terrorists within its borders
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- How Wall Street is chipping away at reform
- How I lost all my money
- 10 things you need to know today: December 21, 2014
- You should be furious about Hollywood's gutless retreat on The Interview
- Are there dogs in heaven? Let's hope not.
Subscribe to the Week