Debunking the big oil subsidy myth

[Simpletruther]

Debunking Myths About Federal Oil & Gas Subsidies

In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.

www.forbes.com

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

 

[JMB802]

Debunking Myths About Federal Oil & Gas Subsidies

In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.

www.forbes.com

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

No, I didn't read it. Because ...

The writer is employed by an oil company. Len Tesoro is Director of Land Products at Drillinginfo.

This article is more than 6 years old.

 

[bluesmoke]

So, debunk the next to zero lease rates of govt property to extract oil.

 

[jnug]

Debunking Myths About Federal Oil & Gas Subsidies

In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.

www.forbes.com

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

You boys really think you have a hot issue here with this oil thing....that much is apparent.

 

[CaughtInThe]

Debunking Myths About Federal Oil & Gas Subsidies

In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.

www.forbes.com

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

"First, let’s consider just the direct subsidies for fossil fuel production—money that flows directly from the government to fossil fuel companies to support activities like exploration, extraction, and development. A conservative estimate from Oil Change International puts the U.S. total at around $20.5 billion annually, including $14.7 billion in federal subsidies and $5.8 billion in state-level incentives. A whopping 80 percent of this goes to oil and gas (with the rest supporting coal), and most of the subsidies are in the form of tax deductions and exemptions and other “obscure tax loopholes and accounting tricks” that result in massive avoided costs for fossil fuel producers."

 

[Mr Person]

No, I didn't read it. Because ...

The writer is employed by an oil company. Len Tesoro is Director of Land Products at Drillinginfo.

This article is more than 6 years old.

@Simpletruther cited a Q & A from an oil employee in 2016 to "debunk" statements made about oil companies taking advantage of subsidies in 2022?

That doesn't even rise to the level of simple truther. It's just plain idiotic.

 

[MamboDervish]

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

Debunking the OP

Bullshit, made all the more ironic since your OP cites healthcare, when the impact of the toxicity of fossil fuels in the environment has an incalculable effect on the healthcare of the nation. Healthcare costs are actually yet another unaccounted for subsidizing of the oil industry.

 

[JMB802]

@Simpletruther cited a Q & A from an oil employee in 2016 to "debunk" statements made about oil companies taking advantage of subsidies in 2022?

That doesn't even rise to the level of simple truther. It's just plain idiotic.

Apparently he was spoonfed this garbage on a far right wing website and ran to DP to "school the libs" with it.

How else would one actually find a six-year-old Forbes article during their daily perusal of news and commentary on the web?

 

[PeacefulWarrior]

Forbes....LOL.

What does the WSJ say?

 

[code1211]

Debunking Myths About Federal Oil & Gas Subsidies

In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.

www.forbes.com

They even call subidies to farmers as subsidies to big oil. The overall tax rate after subisides is still considerably higher for oil than for the health care industry. Big oil is paying it's fair share. This is a nothing burger, pushed because it is good populist politics aimed a certain subset of the voters that can't stand seeing rich people prosper or just lack knowledge of economics.

The entire Green agenda is based on fear, lies, punishments and cruelty to those least able to handle the costs.

 

[Mr Person]

The entire Green agenda is based on fear, lies, punishments and cruelty to those least able to handle the costs.

Do you bother to read anything in a thread before you post? You keep doing this. OP cited an article from 2016, and worse, it's a Q&A from an oil company employee.

 

[bluesmoke]

"First, let’s consider just the direct subsidies for fossil fuel production—money that flows directly from the government to fossil fuel companies to support activities like exploration, extraction, and development. A conservative estimate from Oil Change International puts the U.S. total at around $20.5 billion annually, including $14.7 billion in federal subsidies and $5.8 billion in state-level incentives. A whopping 80 percent of this goes to oil and gas (with the rest supporting coal), and most of the subsidies are in the form of tax deductions and exemptions and other “obscure tax loopholes and accounting tricks” that result in massive avoided costs for fossil fuel producers."

Fed royalty rates haven't been raised for 100 yrs. That's a subsidy. The Fed leasing program is absurd.

 

[code1211]

Do you bother to read anything in a thread before you post? You keep doing this. OP cited an article from 2016, and worse, it's a Q&A from an oil company employee.

The Green Agenda is based on the foundation of making fossil fuel products prohibitively expensive so the prohibitively expensive Green Sources will be competitive..

"The Rich" are able to afford the prices of fossil or green energy quite easily.

The poor are not.