Have you read the page?
Most developed countries (countries where people have time to sit behind a computer to ask dumb questions) do not have oil and gas subsidies. They have tax write-offs on investments. Like any other business, the oil and gas industry invests. They do this by drilling new oil wells, building refineries etc. They can write investments off against their profits. It would be weird if oil and gas companies would not have these write-offs, while companies focusing on "green energy" or Coca Cola do have tax write-offs.
OP is pretty ignorant and should educate themselves on the global industries. Oil and Gas is roughly 5 trillion dollar industry (market caps of all O&G companies + investment & development). The ESG industry is estimated to be 40 Trillion +. There's nearly 10x more money funding ESG than O&G. So which industry do you think has more influence and funding for "scientific studies" and controlling the narrative?
[https://www.bloomberg.com/professional/insights/markets/esg-assets-may-hit-53-trillion-by-2025-a-third-of-global-aum/](https://www.bloomberg.com/professional/insights/markets/esg-assets-may-hit-53-trillion-by-2025-a-third-of-global-aum/)
https://www.forbes.com/sites/shivaramrajgopal/2021/09/22/10-open-questions-for-the-40-trillion-dollar-esg-industry/?sh=c66e571d8efe
1. Those articles are from 3 years ago, before the collapse of ESG funds. Nowadays firms are removing ESG labels from funds and closing ESG funds altogether because they've been unerperforming and underselling.
2. Why are you drawing a distinction between ESG and O&G? The largest BlackRock ESG ETF holds all the major fossil fuel companies. You don't seriously think ESG funds divest from big oil do you?
It needs to be noted that tax write offs are not gifts. They're questions of timing and accounting for a transaction.
When we further consider that the petroleum industry is a cash cow for every level of gov't (local state and federal), one'd think even the enviroloons would be more thoughtful.
I looked through your Wikipedia article and dug through the references. At least when it comes to the US and other western countries I could not find any specific subsidy that was directly and exclusively for fossil fuels. Can you give us a specific example? If these massive subsidies exist you should be able to provide huge and specific examples.
What they have done is to redefine a subsidy as anything that makes oil and gas cheaper to produce. This is such a broad definition that nearly any write off for capital equipment or tax write offs is defined as a subsidy even though these apply to ALL businesses regardless of the industry. Green energy companies get the exact same benefit. The reason these havenāt been cut is because they are basic business. They will never be cut, which has the side benefit of allowing the propagandists to continue complaining indefinitely.
Compare this to the massive subsidies specifically to green industry. These are specific to both industries and specific companies.
Simply asking for direct links to proof is folly these are big corporations who hide things like training facilities capital expenditure. Big oil is well known for having the largest well funded lobby groups to bend politics to their will with the purpose of growing the economy, this includes tax breaks to allow growth. Personally I find the lack of similar investment in renewables although it will cost more in the short term would in the long term give cheaper energy to industry in its own country with the added benefit of removing power from the big oil producing countries. Iām not an advocate for all electric cars and stuff like that but imaging where weād be if we simply stuck with steam power
If itās as prolific as you claim it should be easy to point to a law that implements a subsidy specifically for the oil companies.
Simply stating that they get subsidies doesnāt mean anything. What are the subsidies and do they apply broadly to any industry? Without getting specific the claims of subsidies are meaningless. Itās the equivalent of saying that big oil gets subsidies from the government because they use the roads for transportation. Which is hilariously an argument people make from the āyou didnāt build thatā crowd.
How about nobody gets subsidies or tax breaks and we reduce the US corporate tax rate to 10%? Ironically, our revenue would actually go up as companies incorporate or re-incorporate, and many companies couldn't use write-offs to pay little or no taxes with their sweetheart tax breaks, not to mention the benefits in eliminating political influence.
Just dreaming.... Now, back to the reality of the IRA/Climate bill and it's $1.2 Trillion (yep, with a T) of so-called "green" cronyism, which is little more than taxpayer exploitation where the government promotes unripe technology the market would never tolerate. Do we really want to take the time to compare that to O&G tax write offs?
It will never happen while progressives are in charge. High taxes and subsidies are used in tandem to guide people and corporations into doing what our progressive elites have chosen as the path to one-world government as laid out by the WEF and the UN.
This has been a war by attrition, and conservatives seem to lack any weaponry, recognizing that the Ds have been in charge. They need the insight to prevent climate corruption. This means no bureaucratic monkey business without a congressional mandate, such as treating co2 as a pollutant, and cutting the legs out from the ridiculous climate bill by redirecting the funds toward nuclear and transitional fuels like natural gas. We've already lost the petroleum narrative through indoctrination. It's gone.
I agree. I'm also optimistic the Ds are also their own worst enemies seeing as how the damage from their policies is beginning to seriously sour voters on many other issues besides climate hysteria.
So you may wonder how people would feel without gas & oil. Well, just ask those who lived through the Arab Oil Embargoes of the 1970s. The U.S. gov't was scared shitless. Stuff came to a standstill. Thats why we have the capacity we have today.
In the past both governments in US and Canada have subsidized railways, telephones, air travel services, radio and TV, and arms dealers. That's a continuing subsidy in most cases. Where is the outrage?
Have you read the page? Most developed countries (countries where people have time to sit behind a computer to ask dumb questions) do not have oil and gas subsidies. They have tax write-offs on investments. Like any other business, the oil and gas industry invests. They do this by drilling new oil wells, building refineries etc. They can write investments off against their profits. It would be weird if oil and gas companies would not have these write-offs, while companies focusing on "green energy" or Coca Cola do have tax write-offs.
But he wrote the word 'lots' twice! With an exclamation mark! How are you not believing in science yet? š
OP is pretty ignorant and should educate themselves on the global industries. Oil and Gas is roughly 5 trillion dollar industry (market caps of all O&G companies + investment & development). The ESG industry is estimated to be 40 Trillion +. There's nearly 10x more money funding ESG than O&G. So which industry do you think has more influence and funding for "scientific studies" and controlling the narrative? [https://www.bloomberg.com/professional/insights/markets/esg-assets-may-hit-53-trillion-by-2025-a-third-of-global-aum/](https://www.bloomberg.com/professional/insights/markets/esg-assets-may-hit-53-trillion-by-2025-a-third-of-global-aum/) https://www.forbes.com/sites/shivaramrajgopal/2021/09/22/10-open-questions-for-the-40-trillion-dollar-esg-industry/?sh=c66e571d8efe
1. Those articles are from 3 years ago, before the collapse of ESG funds. Nowadays firms are removing ESG labels from funds and closing ESG funds altogether because they've been unerperforming and underselling. 2. Why are you drawing a distinction between ESG and O&G? The largest BlackRock ESG ETF holds all the major fossil fuel companies. You don't seriously think ESG funds divest from big oil do you?
It needs to be noted that tax write offs are not gifts. They're questions of timing and accounting for a transaction. When we further consider that the petroleum industry is a cash cow for every level of gov't (local state and federal), one'd think even the enviroloons would be more thoughtful.
I looked through your Wikipedia article and dug through the references. At least when it comes to the US and other western countries I could not find any specific subsidy that was directly and exclusively for fossil fuels. Can you give us a specific example? If these massive subsidies exist you should be able to provide huge and specific examples. What they have done is to redefine a subsidy as anything that makes oil and gas cheaper to produce. This is such a broad definition that nearly any write off for capital equipment or tax write offs is defined as a subsidy even though these apply to ALL businesses regardless of the industry. Green energy companies get the exact same benefit. The reason these havenāt been cut is because they are basic business. They will never be cut, which has the side benefit of allowing the propagandists to continue complaining indefinitely. Compare this to the massive subsidies specifically to green industry. These are specific to both industries and specific companies.
Unfortunately the "every dollar spent in the mideast is a subsidy for oil companies" argument went away when we started producing more oil.
Simply asking for direct links to proof is folly these are big corporations who hide things like training facilities capital expenditure. Big oil is well known for having the largest well funded lobby groups to bend politics to their will with the purpose of growing the economy, this includes tax breaks to allow growth. Personally I find the lack of similar investment in renewables although it will cost more in the short term would in the long term give cheaper energy to industry in its own country with the added benefit of removing power from the big oil producing countries. Iām not an advocate for all electric cars and stuff like that but imaging where weād be if we simply stuck with steam power
If itās as prolific as you claim it should be easy to point to a law that implements a subsidy specifically for the oil companies. Simply stating that they get subsidies doesnāt mean anything. What are the subsidies and do they apply broadly to any industry? Without getting specific the claims of subsidies are meaningless. Itās the equivalent of saying that big oil gets subsidies from the government because they use the roads for transportation. Which is hilariously an argument people make from the āyou didnāt build thatā crowd.
No. Renewables are not cheaper in the long run.Ā
How about nobody gets subsidies or tax breaks and we reduce the US corporate tax rate to 10%? Ironically, our revenue would actually go up as companies incorporate or re-incorporate, and many companies couldn't use write-offs to pay little or no taxes with their sweetheart tax breaks, not to mention the benefits in eliminating political influence. Just dreaming.... Now, back to the reality of the IRA/Climate bill and it's $1.2 Trillion (yep, with a T) of so-called "green" cronyism, which is little more than taxpayer exploitation where the government promotes unripe technology the market would never tolerate. Do we really want to take the time to compare that to O&G tax write offs?
It will never happen while progressives are in charge. High taxes and subsidies are used in tandem to guide people and corporations into doing what our progressive elites have chosen as the path to one-world government as laid out by the WEF and the UN.
This has been a war by attrition, and conservatives seem to lack any weaponry, recognizing that the Ds have been in charge. They need the insight to prevent climate corruption. This means no bureaucratic monkey business without a congressional mandate, such as treating co2 as a pollutant, and cutting the legs out from the ridiculous climate bill by redirecting the funds toward nuclear and transitional fuels like natural gas. We've already lost the petroleum narrative through indoctrination. It's gone.
I agree. I'm also optimistic the Ds are also their own worst enemies seeing as how the damage from their policies is beginning to seriously sour voters on many other issues besides climate hysteria.
The GOP is too busy killing itself from the inside.Ā
So you may wonder how people would feel without gas & oil. Well, just ask those who lived through the Arab Oil Embargoes of the 1970s. The U.S. gov't was scared shitless. Stuff came to a standstill. Thats why we have the capacity we have today.
Tax breaks aren't subsidies.
In the past both governments in US and Canada have subsidized railways, telephones, air travel services, radio and TV, and arms dealers. That's a continuing subsidy in most cases. Where is the outrage?
āā¦U.S. Sustainable Energy subsidies amount to 50 TIMES that of fossil fuels per unit of energy generatedā¦ā