Obama Wants To End Oil Subsidies, Use The Money For Alt-Fuels

Every year around tax season, President Obama asks that the taxpayer subsidies that go to oil and gas companies be repealed. The logic being that since these companies are making record breaking profits, they don’t need subsidies. Seems logical to. In addition to abolishing the subsidies, the President also asked to cut tax credits for oil and gas produced from marginal wells.

Notably different this year was Obama’s request for $2 billion for alternative fuel research projects – with the $2 billion coming directly from royalties from oil and gas development on federal land. The federal land catch is an interesting tactic, as companies are lining up to start drilling on federal lands containing once-unreachable natural gas and oil pockets through fracking.The proposal also included new inspection fees totaling $48 million for onshore oil and gas drilling on federal lands, though obviously some people are wary of opening places like George Washington National Forest to fracking.

It's a nice dream,
but unlikely to pass congress ):

Just wonder if this passes what it would do the the all ready High gas and fuel prices? Maybe this would be the final straw that collapses the economy and the dollar?

When someone suggests a good thing, knowing that it would never happen, does that make them a good guy?

reply to post by Quauhtli


One should watch the Netflix series House of Cards to glean why a politician might do this. It's obvious that this proposal will never get anywhere unless corporate money is removed from politics…sooooo that leaves him promoting this solely for appearances. By the way I have a couple family members that are very active in the political scene and that netflix show is the most accurate portrayal of actual politics that I've seen.

reply to post by proob4


By that logic, do you believe Oil and Gas corporations should be paid more welfare from taxpayers? Would that help you? Are you requesting welfare?

According to Paul Ryan, a full stomach from welfare leads to an empty soul. He would know, so watch out.

Why can't the oil companies get by on a little less profit?

Exxon made around $8.35 billion in profits in the past three months.

Rex Tillerson earns over 250 million dollars in yearly salary.

Maybe, just maybe, they can get by without having a taxpayer subsidized profit margin.

Drive up the price of oil and gas which in turn increases the cost for heating homes and filling your car, compounded by the fact food inflation kicks in because valuable land/crops go to bio-diesel production. In the middle of what seems to be economic collapse, thanks mr.politician! driving around an armored tank with a small army everywhere you go, thanks a lot!!

Quauhtli
When someone suggests a good thing, knowing that it would never happen, does that make them a good guy?

Suggestions are worth their weight in gold. In other words, nothing.

Bellor
Drive up the price of oil and gas which in turn increases the cost for heating homes and filling your car, compounded by the fact food inflation kicks in because valuable land/crops go to bio-diesel production. In the middle of what seems to be economic collapse, thanks mr.politician! driving around an armored tank with a small army everywhere you go, thanks a lot!!

edit on 14-3-2014 by Bellor because: (no reason given)

FYI:

Oil companies watch out. Biofuels are on the verge of a breakthrough that will transform the oil market. Not only that: it will also green the planet. In an exclusive interview with CleanTechnica.com and Energy Post, Darrin L. Morgan, Director Sustainable Aviation Fuels and Environmental Strategy at Boeing, reveals that researchers at the Masdar Institute in Abu Dhabi, funded by Boeing, Honeywell and Etihad Airways, may have achieved “the biggest breakthrough in biofuels ever”. Alarmed by the poor quality of fuel made from shale oil and tar sands and frustrated by the blunt refusal of oil companies to provide fuel of better quality, Boeing and its partners have over the past four years sponsored research into alternative fuels that has led to spectacular results. They found that there is a class of plants that can grow in deserts on salt water and has superb biomass potential. “Nobody knew this”, says Morgan. “It is a huge discovery. A game-changer for the biofuels market.

source

reply to post by AlaskanDad


He is just now proposing this?

Does anyone here ever get the feeling that we are all just slaves?

Except that we already heavily subsidize alternative fuels.

So if we're going to end the so-called subsidies on oil, can we also end them on alternative fuels?

Why not charge every single industry and corporation the exact same flat rate, with no after tax subsidy (which is what alternative fuel companies get), no exemptions (which is what oil companies claim)?

Oh, I know, if we did that, then politicians wouldn't be able to create these nifty sound bites to make you think that some businesses are evil while others are good and this pick their own favored winners and losers while also attempting to buy your votes at the same time.

All hail corporatism and the fascist state!

Witness2008
reply to post by AlaskanDad

 

He is just now proposing this?

Does anyone here ever get the feeling that we are all just slaves?

When you live under a corporate Oligarchy, with a Judical system that favors the rich, in fact the whole system is designed to give preferential treatment to those that have money and those that serve them. If you are a small businessman or poor working stiff, you are SOL and there is nothing you can do about it except whine. And no one is listening.

It's a brave new world, welcome to the monkey house. Want to know the future? Read " Player Piano" by Kurt Vonnegut.

While I will love to see government subsidies taken away from no only the oil companies but big pharma and others, that are reaping record profits we most remember that the government have one of the worst records when it comes to funding and financing with tax payers money winners and losers in the Markets

So far under the Obama administration alternative fuel initiative he have given billions of tax dollars to about 20 companies of which 12 have gotten bankrupted while the rest are either failing or in economic distress.

Now he wants to take more millions of tax dollars give away for more waste and abuse.

I don't know about you people, but when you invest billions and it goes belly up that means you are not a very good investor at all, let no forget that many of the people that started those losing companies were very good friends of the Obama's during the first presidential term, I guess is time to reward the ones that help during the second term


www.instituteforenergyresearch.org...

Well, this is sure to raise up prices everywhere.

well that would be nice, but it will drive the cost of oil through the roof.
and it will remain there until another source is found.

and truth of the matter is, most of the major oil companies already have alt fuel programs running, and will continue their strangle hold on fuel, when perfected.

Witness2008
reply to post by AlaskanDad

 

He is just now proposing this?

Does anyone here ever get the feeling that we are all just slaves?

No, I don't think anyone else on this website has ever said that before.

ketsuko
Except that we already heavily subsidize alternative fuels.

So if we're going to end the so-called subsidies on oil, can we also end them on alternative fuels?

Why not charge every single industry and corporation the exact same flat rate, with no after tax subsidy (which is what alternative fuel companies get), no exemptions (which is what oil companies claim)?

Oh, I know, if we did that, then politicians wouldn't be able to create these nifty sound bites to make you think that some businesses are evil while others are good and this pick their own favored winners and losers while also attempting to buy your votes at the same time.

All hail corporatism and the fascist state!

When compared to fossil fuels we in no way subsidize renewable fuels much less heavily. Between 1994 and 2009 the U.S. oil and gas industries received a cumulative $446.96 billion in subsidies, compared to just $5.93 billion given to renewables in those years. If the field was leveled out renewable fuels would be running fossil fuels out of business. But seeing how many lobbyist oil and gas industries have in DC there is no chance of this passing because let's face it people having to squeak by on a few billion a year profit is just plain horrible.

reply to post by buster2010


The way Obama has been using his executive pen I would not be surprised that he may try to do it his way. Lets wait and see.

reply to post by Krazysh0t


I'm pretty sure that there has to be at least a couple of folks here that feel the servitude.

The corporatocracy has robbed us blind. The sad thing is that we let them do it to us.

reply to post by ketsuko

So if we're going to end the so-called subsidies on oil, can we also end them on alternative fuels?

This is the question that should be shouted by everyone at the top of their lungs. Ending subsidies for oil companies just makes since. Adding anything after that statement is politics.

Why not charge every single industry and corporation the exact same flat rate, with no after tax subsidy (which is what alternative fuel companies get), no exemptions (which is what oil companies claim)?

A polar opposite of Reaganomics ... and thinking which would have propelled the United States into becoming the world's current version of the Atlantis of yore.