End fossil fuel welfare handouts paid for by taxpayers

[geeker2]

and let's not leave out these Renewable Blood-suckers!

Energy Incentives for Businesses in the American Recovery and Reinvestment Act

http://www.irs.gov/newsroom/article/...209564,00.html

[Riot]

Originally Posted by geeker2

and let's not leave out these Renewable Blood-suckers!

Energy Incentives for Businesses in the American Recovery and Reinvestment Act

http://www.irs.gov/newsroom/article/...209564,00.html

Exactly. Thanks. You've itemized the untenable, massive difference in government choosing winners (Big Oil) and losers.

Multiple billions to the oil companies and their stockholders at our expense, while the rest of the energy industry - inherently less expensive and cleaner to produce - struggles along.

We're broke. The massive subsidies propping up the record profit-taking of the oil industries must stop. Why does the number one company in profit in the country need billions in subsides? Let's end those subsidies, and use that money to pay down the deficit.

Repeal Big Oil Tax Subsidies Act of 2012

S.2204, the Repeal Big Oil Tax Subsidies Act of 2012, would eliminate over $20 billion dollars of annual tax subsidies for “major integrated oil companies” – the five biggest, most profitable private sector companies. Smaller, independent producers will not be affected.

Last year, the five biggest private sector oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell Group — made a record $137 billion, and every additional penny they charge at the pump increases their profits by $200 million dollars per quarter. Yet each year Big Oil receives billions of dollars in taxpayer subsidies. The Repeal Big Oil Tax Subsidies Act eliminates these unnecessary subsidies.

The only way to really prevent gas price spikes is an energy strategy that reduces our dependence on foreign oil by exploring responsibly and investing in clean energy technology. The Repeal Big Oil Tax Subsidies Act uses the savings from unnecessary subsidies for Big Oil to support growing clean energy industries like alternative fuel vehicles, advanced manufacturing, wind, and solar.

The Repeal Big Oil Tax Subsidies Act would renew incentives for clean energy technologies like the Section 1603 grant program and Section 48C Advanced Energy Manufacturing Tax Credit.

Additional savings from the Big Oil Subsidies ended by the Repeal Big Oil Tax Subsidies Act would also be used to help bring down the federal deficit.

[geeker2]

Originally Posted by Riot

Exactly. Thanks. You've itemized the untenable, massive difference in government choosing winners (Big Oil) and losers.

Multiple billions to the oil companies and their stockholders at our expense, while the rest of the energy industry - inherently less expensive and cleaner to produce - struggles along.

We're broke. The massive subsidies propping up the record profit-taking of the oil industries must stop. Why does the number one company in profit in the country need billions in subsides? Let's end those subsidies, and use that money to pay down the deficit.

ah... no not exactly...but nice spin.

You demonize Oil & Coal and yet neglect to mention that Renewables are highly subsidized too.

If you leveled the playing field and let the best form of energy survive - it will - and it won't be Renewables.


If you had to pay the actual cost for Renewable Energy you wouldn't turn on your plasma TV.

If you took away all of the subsidies and prohibited people from dying young of mysterious illnesses that work in renewable energy...

then we wouldn't have a problem. There wouldn't be a need for wars. And Tesla would be God.

[Riot]

Originally Posted by geeker2

ah... no not exactly...but nice spin.

You demonize Oil & Coal and yet neglect to mention that Renewables are highly subsidized too.

I'm not "demonizing". I'm pointing out the fact that they are extremely profitable companies, they pay little to no tax, and they have received, and are due to receive, billions in taxpayer welfare handouts to prop their balance sheet up. They are private companies. Enough. We're broke. Stand on your own, private big oil companies, without government subsidy.

Renewables are nowhere near subsidized as Big Oil (billions over decades in the past, and billions in decades to come) has been, and is. That is the very point.

Big Oil is massively profitable, it no longer needs billions of dollars in taxpayer welfare to exist. Other alternative energy sources should have an equal chance to succeed in the marketplace, without private Big Oil getting massive subsidies and gifts of money from the government (our pockets).

If you leveled the playing field and let the best form of energy survive - it will - and it won't be Renewables.

I'd guess it would be natural gas. And yes - leveling the playing field is exactly what the energy industry should be about, and what this new law is attempting to do. We are broke. We have a deficit we need to fix. Let's stop the corporate welfare checks. We don't have money to prop up Big Oil private profits. Every single conservative and libertarian "against big government welfare" believer should be 100% in favor of this.

[Rudeboyelvis]

Sounds great - good luck with that.

You're logic is flawed, but you don't have the sense to notice it. While you're at it, why are Big Pharma, Big Ag, and the Medical/Insurance machine allowed to still suck off the same teet that you think you can strong arm Big Oil off of?

It's entirely too complex to just say "screw them, they'll just have to do with less".

There is global demand for their product, and they will sell it anywhere but here if it is not as profitable, if not more so, for them to do so.

You have zero leverage to in that regard. It's pretty much comparable to why junkies don't have a lot of say in what their drug of choice happens to be.

[Riot]

Originally Posted by Rudeboyelvis

You're logic is flawed, but you don't have the sense to notice it.

Said the man who thinks the President of the United States birth certificate is a faked conspiracy theory