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Friendly policies keep US oil and coal afloat far more than we thought
Gwad
Member Posts: 2,855
in Tug Tavern
Most energy subsidies go not to renewables but to producing more of the dirty stuff.
The coal industry and its allies in the Trump administration have devoted considerable energy to arguing that subsidies to renewable energy have distorted energy markets and helped drive coal out of business. “Certain regulations and subsidies,” Energy Secretary Rick Perry has said, “are having a large impact on the functioning of markets, and thereby challenging our power generation mix.” You can guess which regulations and subsidies he’s talking about.
This is nothing new, of course. It is in keeping with a long conservative tradition of challenging the economic wisdom and effectiveness of energy subsidies.
At least, uh, some energy subsidies.
Energy analysts have made the point again and again that fossil fuels, not renewable energy, most benefit from supportive public policy. Yet this fact, so inconvenient to the conservative worldview, never seems to sink in to the energy debate in a serious way. The supports offered to fossil fuels are so old and familiar, they fade into the background. It is support offered to challengers — typically temporary, fragmentary, and politically uncertain support — that is forever in the spotlight.
https://www.vox.com/energy-and-environment/2017/10/6/16428458/us-energy-coal-oil-subsidies#targetText=Adding everything up: $14.7 billion,Extraction gets the most.
The coal industry and its allies in the Trump administration have devoted considerable energy to arguing that subsidies to renewable energy have distorted energy markets and helped drive coal out of business. “Certain regulations and subsidies,” Energy Secretary Rick Perry has said, “are having a large impact on the functioning of markets, and thereby challenging our power generation mix.” You can guess which regulations and subsidies he’s talking about.
This is nothing new, of course. It is in keeping with a long conservative tradition of challenging the economic wisdom and effectiveness of energy subsidies.
At least, uh, some energy subsidies.
Energy analysts have made the point again and again that fossil fuels, not renewable energy, most benefit from supportive public policy. Yet this fact, so inconvenient to the conservative worldview, never seems to sink in to the energy debate in a serious way. The supports offered to fossil fuels are so old and familiar, they fade into the background. It is support offered to challengers — typically temporary, fragmentary, and politically uncertain support — that is forever in the spotlight.
https://www.vox.com/energy-and-environment/2017/10/6/16428458/us-energy-coal-oil-subsidies#targetText=Adding everything up: $14.7 billion,Extraction gets the most.
Comments
It also leaves out subsidies for overseas fossil fuel projects ($2.1 billion a year).
Most significantly, OCI’s analysis leaves out indirect subsidies — things like the money the US military spends to protect oil shipping routes, or the unpaid costs of health and climate impacts from burning fossil fuels. These indirect subsidies reach to the hundreds of billions, dwarfing direct subsidies — the IMF says that, globally speaking, they amount to $5.3 trillion a year. But they are controversial and very difficult to measure precisely.
Garbage in, garbage out.
Imagine if Trump cut this program
Last in first out accounting is now an “oil and gas subsidy”? MLP structures (which are designed to distribute all earning as dividends that get taxed and basically the same as REIT real estate structures) are now an “oil and gas subsidy”? R&D credits and Domestic Manufacturing (which all domestic businesses get) are now an oil and gas subsidy?
Fucking eh...HondoFS poast this?
Commit to the fucking cause
We are not the problem! Call China, India, Russia etc. Whine at them it'll have far more impact than trying to take everyone's straws.
They had nothing to do with it. Just like us
But you want to fuck poor people based on your irrational fear
Fuck off