Sen. Bernie Sanders and Rep. Keith Ellison launched a new piece of legislation that would repeal $113 billion of tax-breaks, handouts, and subsidies for the fossil fuel industry over the next 10 years.
Not only is fossil fuel the richest industry on earth, but any of us who pay taxes write it a hefty check each year. It’s as if we’re paying them a performance bonus for wrecking the climate. We’ll never get to renewable energy if we keep handing gobs of money to oil and coal and gas.[emphasis mine]
The bill would strip away these outrageous subsidies.
It's time to stop subsidizing Exxon-Mobil with your hard earned money.
They'll just ship it overseas. Our prices will go up more, and the oil companies will export because exports don't get taxed. Little do most people know how much our government actually profits from fossil fuels. On average, the US Government gets 57.6 cents per domestic purchased gallon at the pump. That's not including state and local tax. They like to hide that fact. A little over 50% of our electricity comes from coal. Wind energy on average costs 18 cents more per kilowatt than coal power. Other renewable sources with the exception of hydrostatic power follow suit.
I agree, dependency on fossil fuels needs to be managed on a much larger scale, but it is unrealistic at this point in time. I can tell you this: When solar panels and windmills don't cost more than I make in a decade to outfit my residence, I will go to them. When they make a hybrid vehicle that doesn't look like a toastmaster or that ugly Toyota Prius; I'll buy one. Only if it's affordable by my standards.
Until then, about 50% of my paycheck goes into my V8 and V6 pickup trucks which are A) paid off and B) something I actually know how to do A-Z maintenance on. At least with the vehicles I have now, I could even go as far as replacing the engine block and have it turn out fine. Batteries fail and degrade faster than my engine ever will. They also cost more to maintain and replace. The downside is I use a lot of fuel due to my 50 mile round trip commute every day. I think we need the Government to concentrate on getting the economy back on track instead of taxing corporations even more. Do you know why companies outsource and move overseas so much? Because we have so many regulations, taxes and other obstacles that it's not worth having a business or importing workers here. I know of several industrial companies that woud flourish if they got even a few engineers from Germany or China over here. Instead of being welcomed with open arms, they get screened to the point most won't come here. Germany, however, has a provision that anybody working in the country gets permanent stay while conducting business.
Our country and more specifically this Presidential administration, have given no chance for our economy to recover or our corporations to conduct business without monitoring the thousands of regulations, taxes and standards that have been laid upon them. I say shame on them.
we voted for a mass transit rail from at least broward county to tampa.. what a drag...
jeb bush is a sellout to s.american interests and china
now we're stuck w/mr. white collar crime boss rick scott
but hey, i'm just a little guy w/o a wife that seeks to profit from drug testing gov employees
There's one part of your reply on which I have a different slant.
Do you know why companies outsource and move overseas so much? Because we have so many regulations, taxes and other obstacles that it's not worth having a business or importing workers here.
It's true that companies have greater profit margins overseas, where there are fewer "regulations, taxes, and other obstacles". But my perspective is that the greater profit potential is due to the overseas fraud-friendly environment, where workers aren't protected, the local environment isn't protected, profits aren't taxed as much even when you count the kick-backs to corrupt politicians and police, and consumer protections are negligible. Of course it's more profitable to operate that way, but it's immoral and not in the long term interest of either the host company or the US consumers. But in an unregulated global marketplace, short term profit trumps all. Businesses that try to operate morally go out of business.
I guess I had a bit of oversight on that part of it. Well said. Although I partly agree, this administration has placed way too many regulations on businesses. With the experience I have had with OSHA and other regulatory agencies, I can honestly say they'll be telling us how to wipe our noses correctly next. They have extended their power way beyond what it should be. On importing workers: I have an example relavent to this. My father is a quality assurance manager for John Deere's transmission assembly plant in Coffeyville, KS. His basic job description is to find all flaws with products based on certain data and characteristics. He works with metallurgists and mechanical engineers to determine the source of product defects and correct the issue. This is a job which has worldwide coverage for all mid sized John Deere transmissions. Due to growing demand, Q/A engineers are utilized worldwide. One quality engineer such as my father creates positions for metallurgists, mech engineers, industrial process engineers, six sigma reps and others. Now, suppose one of these engineers who is talented at this aspect of the job can come to America where he can open up 50 or more job positions related to Q/A. Only the US won't allow him to come and work here without copious amounts of paperwork, loss of civil liberties and no guarantee that he will be free to work indefinitely at that particular branch of the company. Where is the benefit to that? Most of them stay in their own country because of this. And we're adding more regulations often. We screw ourselves out of job making people with our policy on immigrants who want to work ON the grid, not off. The ones that work off the grid are going to come anyway.
ha.. CFI posted stats on 71 Billion lost to faith based welfare? meaning they keep their mansions while folks are freakin'
and yeah.. fossil fuels the bane of humanity at this point...(intersection cough cough_
wait til the water gets scarce or polluted worse from fracking... well, not in Vermont.. unless it seeps pollution from other surrounding states? hrmmmm
This is the same future we in the US are embracing. If you invest your capital in nuclear instead of renewables, you choose to make yourself dependent upon nuclear. Then when horrible "accidents" occur you have the radiation AND the power shortages at once. Every time we commit to nuclear instead of solar, wind, tidal, or geothermal we start down the same road.
President Clinton puts the failure of wind energy company Solyndra in perspective.
President Clinton also made the point that the money Solyndra received as a DOE portfolio investment has nothing to do with the tax credits given today for organizations and homeowners who install solar systems.
"We've been giving oil subsidies since 1916. Sometimes they dig a dry well, but we persevere. You've got to take chances if you're going to tomorrow's dance."
On the bad press regarding subsidies to renewable energy companies, he said, "There is still $22 spent on other subsidies for every dollar spent on renewable energy."
The author, Graciela Tiscareno-Sato, said
Researching further on this topic, I learned that subsidies to solar, wind, biofuels and other developing renewables industries are about one percent of the subsidies given to fossil fuel industries. (Yes, 1%!) Furthermore, in the U.S., most of the largest fossil fuel subsidies are written into the tax code as permanent provisions. Subsidies for renewables however, are time-limited initiatives via energy bills, all with expiration dates, making them far less useful.
The "Drill, baby, drill" folks would have us extract every ounce of fossil fuels before we begin to develop renewable ones. I'd rather see us use up other countries' resources while working as fast as we can on wind, solar, and lesser renewable energy sources. Oil does have other uses than fuel; when we've burned it all it'll take a long time for the current dinosaurs to die, get buried, and make more oil. So we'll need to learn to make plastics from ... wind? sun? We should stop today subsidizing non-renewable fuels.