The government tax incentives that were put in place years ago to encourage new drillers and expand the economy were never allowed to expire and turn out to be huge tax bonus incentives for the Big 5 Oil Companies. It doesn't take a good accountant to find these never ending government subsidies.
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Elio Wiping Out Tesla!
- Thread starter Keith Dahl
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WilliamH
Elio Addict
So when you do your income tax and take deductions for each child should we call that "procreation incentives"?
And when you claim you mortgage deduction should we call that a "real estate incentive"?
How about your deductions for "Real Estate Tax"? Should those be called "Home Ownership incentives"?
How about your "charitable deductions"?
And should I now talk about the deductions for the most profitable organizations on the planet? "Organized Religion". Should those be called "God incentives"?
Cause they are in essence no different than "big oils" oil depletion allowances and their other deductions.
And "Big Oil" creates good paying jobs, the income of which is also taxed
Don't forget the money Washington rakes in on "oil leases" which bureaucrats then won't let oil companies drill on.
And never forget that the state and federal government takes more money from each gallon of gas that you buy than the oil companies make in profit.
Recommended reading ------------
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Search string ------- "How much tax does big oil pay per year?"
outsydthebox
Elio Addict
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How much tax does BigOil AVOID and EVADE world-wide is the more informative question.
CompTrex
Elio Addict
Maybe not the pool, but the ocean? Sure. Knock yourself out.Please don't take this as a personal attack, because I do value your contributions here. But, you're OK with everyone "peeing in the pool" as long as they don't stand next to you?
ks6c
Elio Addict
Simple physics will actually stop wind & solar, the two "in vogue" fads of the moment.
When wind farms and solar fields are designed, engineers use what is called a "Capacity Design Factor" to determine how much of the installed capacity will actually be achieved. For wind in North America, the CDF is ~25% and for solar it is ~15%, meaning that for every megawatt of wind generation installed, the turbine will generate (as an integral over time, get out your old calculus textbooks) 250kw. Why? Cuz when the wind doesn't blow hard enough the turbines don't spin, and when the winds blow too hard the props are feathered to avoid damage to the turbines, and because the turbine produces at a variable rate when the wind is blowing hard enough to spin the turbine but not at peak power generating speed (think hp @ rpm). Solar is even worse, given the sun isn't shining at peak power producing levels except for a window in time around high noon.
IOW, the energy generated is incredibly variable, or conversely, cannot be depended upon at any given point in time. You, as a customer, won't accept a 15% probability that the lights will turn on when you flip the wall switch in your home, so what's the solution?
For every megawatt of wind or solar "alternative energy" installed, there is a megawatt of conventional capacity installed, and since the ramp-up time to bring a cold boiler up to temps, and generators up to speed is measured in HOURS & DAYS, not milliseconds, that traditional capacity is staffed, online & idling because if there weren't, the power in you home would be flickering non-stop. You - WE - are paying for energy TWICE!
And let's not talk about storing power generated from alternative energy sources. AC can't be stored - full stop - and while DC can be stored, transmission and conversion losses make it entirely impractical. Did you know that when electrical distribution systems were being invented, Edison actually proposed and installed DC systems, but "booster/regenerating stations" were needed every few miles because of line losses (imagine those dotting today's landscape!). DC failed.
No, I find that folks who are promoting solar and wind alternatives can generally be divided into 2 camps: 1) those who consider Popular Science(fiction), (Un)Scientific American and untrained journalists to be credible technical sources of information, and 2) those who have an agenda to intentionally mis-lead (campaign donors, solar/wind industry).
WilliamH
Elio Addict
satx,
You need to stop doing partial quotes. It is dishonest. Like San Antonio politics.
It is also offensive.
really ???? .... the answer is simple .... they pay as little in taxes as they can .... while there is bound to be some odd ball that pays more taxes than they have to, the same is true for every business, every charity, every individual in the country .... we have a growing number of low income people who follow the law and pay little or no income taxes .... what the law says we must pay is what we must pay .... we take advantage of every tax break we can, so do the energy companies and everyone else .... its a bit disingenuous to blame any company, organization, or individual for following the law .... if someone wishes to attach blame, attach it to the folks who write the tax laws
I personally don't give a rats butt about the fact that government tax incentives favor BIG oil. I do have issues with fairness. My feeling is that renewables/alternative energy options need and deserve the same tax break incentives and consideration so there are future options/alternatives for those that want and/or need them by reducing the demand on BIG foreign oil while creating new jobs and expanding OUR USA's economy...........not the league of Arab Nations.
My only point is that people bitch about tax dollars going to encourage the development of renewables and EV's and don't acknowledge the fact that big oil has gotten it's share of incentives and continues to do so.
Your listed examples of tax incentives are not relevant to BIG oil & renewable energy. Granted, it does take energy to procreate and even more energy to raise children. Many parents stop at drill baby, drill procreation and forget about parenting.
Currently the US only imports 27% of it's oil from other countries; most of it from Canada
Here's the numbers from the US Energy Information Administration http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
And we export a few barrels ourselves because we (the US) make more money that way. For a long time the oil from Alaska was going to Japan because we made money on it then.
Here's the numbers from the US Energy Information Administration http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
And we export a few barrels ourselves because we (the US) make more money that way. For a long time the oil from Alaska was going to Japan because we made money on it then.