State of the Union - Kill Oil Subsidies!

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AndyH

Well-known member
Joined
Apr 23, 2010
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Location
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Did the President really say that he's going to ask the Congress to eliminate subsidies to the oil industry?!

Time to write some letters and make some phone calls! It's About Time!
 
I find it hard to watch political speeches (even Obama's) - but I expect the next two years to be a complete grid lock :(
 
AndyH said:
Did the President really say that he's going to ask the Congress to eliminate subsidies to the oil industry?!

Time to write some letters and make some phone calls! It's About Time!


We can dream!
 
Flash from the Past...

http://environment.about.com/od/environmentallawpolicy/a/end_oil_subsidy.htm
January 19, 2007 – The U.S. House of Representatives, under new Democratic leadership, yesterday passed legislation that would end more than $14 billion in subsidies and tax breaks for oil companies and earmark that money to help develop renewable energy, alternative fuels and conservation technologies.
In the late 1990s, the U.S. Interior Department signed drilling leases that, because of errors in the documents, allowed oil companies to avoid paying billions of dollars in royalties for a decade.
“Big Oil is hitting the taxpayer not once, not twice, but three times,” according to Rep. Nick J. Rahall II (D-WV), chairman of the House Natural Resources Committee. “They are hitting them at the pump. They are hitting them at the Treasury through the tax code. And they are hitting them with royalty holidays.”
 
AndyH said:
sjfotos said:
We can dream!
Yeah Buddy! But then we have to get off our butts and make it happen! :shock: :lol:

Oh yes, I do agree and have written all of my reps on this as well. I also promote the Pickens Plan. A solution that covers the long haul and trucking industry.

I want off of oil for both environmental and national security reasons.
 
AndyH said:
Did the President really say that he's going to ask the Congress to eliminate subsidies to the oil industry?!
Yes, and that's not all:

President Obama said:
At the California Institute of Technology, they're developing a way to turn sunlight and water into fuel for our cars. At Oak Ridge National Laboratory, they're using supercomputers to get a lot more power out of our nuclear facilities. With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have a million electric vehicles on the road by 2015.

We need to get behind this innovation. And to help pay for it, I'm asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don't know if — I don't know if you've noticed, but they're doing just fine on their own. So instead of subsidizing yesterday's energy, let's invest in tomorrow's.
 
Every president since Nixon has claimed we will do what it takes to reduce our dependance on foreign oil.

I'll believe it when I see it.

(sadly, I'm disgruntled, jaded, and cynical)

:evil:
 
I just wrote my Congressperson, telling her that I was thrilled to hear about cutting oil subsidies and expanding the role of electric vehicles in the SOTU address. I asked her if she had experienced an electric vehicle herself, and if she would like me to bring mine over to her district office next time she's in town. So she could see that it really could be part of the solution when it comes to America's transportation needs.
 
mwalsh said:
I just wrote my Congressperson, telling her that I was thrilled to hear about cutting oil subsidies and expanding the role of electric vehicles in the SOTU address. I asked her if she had experienced an electric vehicle herself, and if she would like me to bring mine over to her district office next time she's in town. So she could see that it really could be part of the solution when it comes to America's transportation needs.
I like that idea to give them a hand on touch feel.

What I would like and it will be to late for me is have them make the $7,500 rebate to roll forward like solar. I wonder who thought it was a good idea to only give the break to rich people. Probably a way to limit the money paid out or not collected.
 
Interesting piece on SOTU posted on Yahoo

But Obama offered far more examples of where he would spend than where he would cut, and some of the areas he identified for savings are not certain to yield much if anything.

For example, he said he wants to eliminate "billions in taxpayer dollars we currently give to oil companies." Yet he made a similar proposal last year that went nowhere. He sought $36.5 billion in tax increases on oil and gas companies over the next decade, but Congress largely ignored the request, even though Democrats were then in charge of both houses of Congress.
 
http://action.priceofoil.org/p/dia/action/public/?action_KEY=5897

http://priceofoil.org/
The President’s budget proposes to cut more than $4 billion in taxpayer subsidies to the oil industry.

We need your help to convince Congress to make these cuts.

It won’t be easy. Over the last two years, Congress received more than $12 million from the oil industry. And for every $1 that Big Oil invests in campaign contributions to Congress, they get a payback of at least $332 in the form of subsidies.

That’s an unbelievable bargain. It’s no wonder that Big Oil and their allies in Congress are doing everything they can to keep those subsidies. But it's not their money, after all, it's yours.

To make matters worse, these are the same politicians who say we need to stop spending and balance the budget. It's time for them to stop talking out of both sides of their mouths. It's time to pay back the American people, not the oil industry.

Please send a letter to your representatives in Congress to demand that our government stop supporting Big Oil and Coal.

The oil industry wants you to ignore the way they buy your government, remain ignorant of their massive profits, overlook your pain at the pump, and forget about the environmental consequences caused by this dirty industry.

But we won’t forget, and neither will you. It’s time to take action to eliminate the billions of taxpayers’ dollars going into the pockets of Big Oil.

That’s what Oil Change International is fighting for and here is how you can help: Tell your Senators and Representatives to stop using your tax dollars to support this dirty industry.

It’s time for some payback of our own, as we remind Congress who they should be working for.

Yours,
Steve, Traci, Elizabeth, and Lorne – the staff at Oil Change International
 
I've got an idea. We have electric utilities that have to request rate changes through locally elected "Corporation Commissioners". Why couldn't the same be done with the oil companies on a national basis. However, they would be allowed to charge what the market will bear just as it is now. What the government would do is to tax away the subsidies that they were given and the oil companies keep the rest. If the subsidies are part of the profit then, like the Corporation Commission, they would set a fair (not excessive) return for the stockholders. This may not eliminate the subsidies altogether but it could blunt the argument by the oil companies that no subsidies would lessen exploration and development and put thousands out of work.

Fat chance of this ever happening, so I guess we can only lead by example with the LEAF and hope that eventually a significant amount of the population sees the light.
 
Don't know. I've been trying to wrap my mind around the oil and coal industry's complaints and still can't connect the dots.

Corporations get paid, pay their bills, depreciate those assets that can be, and pay taxes on what's left. And in spite of the increased costs of extracting more scarce products, they continue to make significant profits.

Look at BP as one example - in spite of added deep-water expenses and a $40 BILLION loss from the GoM oil spill - they're returning to profitability and have reinstated their dividend payments to shareholders.

Using Oil Change International's numbers - a $332 return on every lobbying dollar - means the entire oil and coal industry receives just under $40 Billion in subsidies from We the People.

The BP spill proves that a single large oil company can stay in business if the US government killed all subsidies instantly and aimed the cuts at a single oil company!
 
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