US democrats again vote against American oil production

[User Name]

You don't understand what government welfare is all about. Oil companies do not get corporate welfare. Planned Parenthood, on the other hand, gets corporate welfare and government funding.

Here is a summary of the 2011 oil industry subsidies compiled by Taxpayers for Common Sense in its report, "Subsidy Gusher."

• Volumetric Ethanol Excise Tax Credit - $31 billion.
• Intangible Drilling Costs - $8.9 billion.
• Oil and Gas Royalty Relief - $6.9 billion.
• Percentage Depletion Allowance - $4.327 billion.
• Refinery Equipment Deductions - $2.3 billion.
• Geological and Geophysical Costs Tax Credit - $698 million.
• Natural Gas Distribution Lines - $500 million.
• Ultradeepwater and Unconventional Natural Gas and other Petroleum Resources R&D - $230 million.
• Passive Loss Exemption - $105 million.
• Unconventional Fossil Technology Program - $100 million.
• Other subsidies - $161 million.

What Are Government Subsidies?

Subsidies are cash grants or loans used to encourage or promote certain behaviors. Learn about government subsidies in oil, farming, health care, and more.

www.thebalance.com

Every year, oil companies get to deduct millions of dollars from their tax bills for the cost of new wells, oil exploration, and other drilling and mining expenses.

How Corporate Welfare Hurts You

When corporations get special handouts from the government, we have to pay more in taxes to make up for these hidden tax breaks, subsidies, and loopholes.

prospect.org

 

[marke]

Here is a summary of the 2011 oil industry subsidies compiled by Taxpayers for Common Sense in its report, "Subsidy Gusher."

• Volumetric Ethanol Excise Tax Credit - $31 billion.

Let's look into these unsupported claims, one at a time. The Volumetric Ethanol Excise Tax Credit was established to help farmers, consumers, and producers of alternative fuels, but not oil companies. Anyone claiming the credit is a subsidy to oil companies is lying from either ignorance or deliberately. In any case, lying is inexcusable.

Who Did the Ethanol Tax Credit Benefit? An Event Analysis of Subsidy Incidence

www.rff.org

At the end of 2011, the Volumetric Ethanol Excise Tax Credit (VEETC), which had subsidized the blending of ethanol in gasoline, was allowed to expire. During its tenure, the subsidy was the subject of intense scrutiny concerning who benefited from its existence. Using commodity price data, we estimate the subsidy incidence accruing to corn farmers, ethanol producers, gasoline blenders, and gasoline consumers around the time of expiration. Our empirical approach contributes methodologically to the event studies literature by analyzing futures contract prices (as opposed to spot prices) when possible. Ultimately, we find compelling evidence that, at the date of VEETC expiration, about 25¢ of the 45¢ subsidy per gallon of ethanol blended was captured by ethanol producers and possibly others further up the agricultural supply chain. We find suggestive, albeit inconclusive, evidence that a portion of this benefit (about 5¢ per gallon) was passed upstream from ethanol producers to corn farmers. Most of the remainder seems most likely to have been captured by the blenders themselves. We find no compelling evidence that any part of the subsidy was captured by oil refiners or by gasoline consumers in the form of lower gasoline prices.

 

[User Name]

Let's look into these unsupported claims, one at a time. The Volumetric Ethanol Excise Tax Credit was established to help farmers, consumers, and producers of alternative fuels, but not oil companies.

Not directly, but the Volumetric Ethanol Excise Tax Credit does factor into the hidden cost of a gallon of gasoline.

 

[marke]

Here is a summary of the 2011 oil industry subsidies compiled by Taxpayers for Common Sense in its report, "Subsidy Gusher."

• Intangible Drilling Costs - $8.9 billion.

All industries have been allowed deductions for costs associated with their businesses. Leftist democrats want the oil and gas industry shut down, which is why leftists want to eliminate business expense deductions for oil and gas businesses. Who benefits from the deductions? Businesses and consumers. Businesses because lower taxes leave greater breathing room for growth and sustainability. Consumers, because lower business costs mean lower costs of goods in a free market economy.

The Tax Break-Down: Intangible Drilling Costs | Committee for a Responsible Federal Budget

2013-10-17-This is the eleventh post in our blog series, The Tax Break-Down, which will analyze and review tax break

www.crfb.org

The deduction for intangible drilling costs has been permitted since the beginning of the income tax code, in order to recognize the risks involved in drilling developmental wells—not every well strikes oil. Only IDCs associated with domestic or offshore wells may be deducted; foreign wells cannot be expensed in this way.

What are the Arguments For and Against the Deduction for Intangible Drilling Costs?

Supporters of the deduction argue that oil and gas and exploration and development is a high-cost industry, and allowing expenses to be recovered immediately encourages companies to invest. They explain that altering the deduction could result in job losses, since wages are included in the deduction.

More broadly, supporters point out that the oil and gas industry receives the same treatment that other manufacturing or extractive industries receive, and are merely a target because of the now-controversial nature of reliance on fossil fuels. Finally, supporters of energy independence often support the IDC deduction, as it promotes further exploration and development of wells within the United States.

 

[User Name]

All industries have been allowed deductions for costs associated with their businesses.

Just know that the hidden cost of a gallon of gasoline amounts to almost $4 above the price at the pump when corporate subsidies and other expenses are factored in.

 

[marke]

Just know that the hidden cost of a gallon of gasoline amounts to almost $4 above the price at the pump when corporate subsidies and other expenses are factored in.

You obviously know nothing about how prices at the pump are determined and regulated. It is stupid to think gas prices are high because of a lack of government regulation and control. Democrats may want people to believe that lie but it is a lie and the propagation of that lie is hurting millions of poor people in America.

 

[User Name]

You obviously know nothing about how prices at the pump are determined and regulated. It is stupid to think gas prices are high because of a lack of government regulation and control.

That's not what I said, but I realize that you are too propagandized to understand what I said.

When you factor in the cost of subsidies, environmental pollution, defense of trade routes, etc, those are hidden costs that you don't pay at the pump but which do get paid through taxpayer funding.

 

[marke]

That's not what I said, but I realize that you are too propagandized to understand what I said.

When you factor in the cost of subsidies, environmental pollution, defense of trade routes, etc, those are hidden costs that you don't pay at the pump but which do get paid through taxpayer funding.

All businesses get tax deductions. Tax deductions are not the same thing as subsidies, and tax deductions should not be seen as wrong for businesses that biased government officials don't like and right for businesses that biased government officials do like.

 

[User Name]

All businesses get tax deductions. Tax deductions are not the same thing as subsidies

The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year; with 20 percent currently allocated to coal and 80 percent to natural gas and crude oil. European Union subsidies are estimated to total 55 billion euros annually.

Historically, subsidies granted to the fossil fuel industry were designed to lower the cost of fossil fuel production and incentivize new domestic energy sources. Today, U.S. taxpayer dollars continue to fund many fossil fuel subsidies that are outdated, but remain embedded within the tax code. At a time when renewable energy technology is increasingly cost-competitive with fossil power generation, and a coordinated strategy must be developed to mitigate climate change, the broader utility of fossil fuel subsidies is being questioned.

Direct Subsidies​

Intangible Drilling Costs Deduction (26 U.S. Code § 263. Active)
Percentage Depletion (26 U.S. Code § 613. Active)
Credit for Clean Coal Investment Internal Revenue Code § 48A (Active) and 48B (Inactive)

Indirect Subsidies​

Last In, First Out Accounting (26 U.S. Code § 472. Active)
Foreign Tax Credit (26 U.S. Code § 901. Active)
Master Limited Partnerships (Internal Revenue Code § 7704. Indirect. Active)

Fact Sheet | Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal Costs (2019) | White Papers | EESI

www.eesi.org

 

[ok doser]

Why Keystone isn't coming back

Keystone XL developer says it’s too late to restart pipeline project - Washington Examiner

The crunch at the gas pump exacerbated by the Russian invasion of Ukraine has led to calls in conservative circles to restart the controversial Keystone XL pipeline. But those calls may be nothing more than a pipe dream.The cross-border, multibillion-dollar project fell victim to partisan...

www.washingtonexaminer.com

 

[ok doser]

Keystone was intended to move Albertan crude to American gulf coast refineries. That oil has already found a different path to market.

 

[marke]

The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year; with 20 percent currently allocated to coal and 80 percent to natural gas and crude oil. European Union subsidies are estimated to total 55 billion euros annually.

Historically, subsidies granted to the fossil fuel industry were designed to lower the cost of fossil fuel production and incentivize new domestic energy sources. Today, U.S. taxpayer dollars continue to fund many fossil fuel subsidies that are outdated, but remain embedded within the tax code. At a time when renewable energy technology is increasingly cost-competitive with fossil power generation, and a coordinated strategy must be developed to mitigate climate change, the broader utility of fossil fuel subsidies is being questioned.

Direct Subsidies​

Intangible Drilling Costs Deduction (26 U.S. Code § 263. Active)
Percentage Depletion (26 U.S. Code § 613. Active)
Credit for Clean Coal Investment Internal Revenue Code § 48A (Active) and 48B (Inactive)

Indirect Subsidies​

Last In, First Out Accounting (26 U.S. Code § 472. Active)
Foreign Tax Credit (26 U.S. Code § 901. Active)
Master Limited Partnerships (Internal Revenue Code § 7704. Indirect. Active)

Fact Sheet | Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal Costs (2019) | White Papers | EESI

www.eesi.org

Planned Parenthood gets cash payments from the US government. Oil companies do not.

 

[User Name]

Keystone was intended to move Albertan crude to American gulf coast refineries. That oil has already found a different path to market.

"...a majority of Alberta's heavy oil is exported to the US..."

Differentials Explained: Why Alberta crude sells at a deep discount | Oil Sands Magazine

There are hundreds of crude streams produced around the world, each selling at a different price. Although prices largely rise and fall together, discounts vary due to quality differences, marketability, and delivery costs to the final customer.

www.oilsandsmagazine.com

 

[User Name]

Keystone was intended to move Albertan crude to American gulf coast refineries. That oil has already found a different path to market.

Rail route 'looks promising' after cancellation of Keystone pipeline:

Canadian oil producers see new route to Gulf Coast refineries coming from CP Rail deal

Rail route 'looks promising' after cancellation of Keystone pipeline

financialpost.com

It will still get here, but by way of other means of transport.

 

[marke]

Rail route 'looks promising' after cancellation of Keystone pipeline:

Canadian oil producers see new route to Gulf Coast refineries coming from CP Rail deal

Rail route 'looks promising' after cancellation of Keystone pipeline

financialpost.com

It will still get here, but by way of other means of transport.

The Keystone Pipeline never killed anyone, but oil transported on rails owned by Warren Buffet has killed dozens.

 

[ok doser]

The Keystone Pipeline never killed anyone, but oil transported on rails owned by Warren Buffet has killed dozens.

Pipeline is best, oil tanker ship is second best, then rail, then truck

 

[marke]

Pipeline is best, oil tanker ship is second best, then rail, then truck

Shutting down the Keystone Pipeline has greatly increased emissions, dangers of injuries or deaths, costs to be passed onto energy consumers, and other negative impacts.

Opinion: The shallowness of the opposition to Keystone XL

One reality is eternal: The arguments against Keystone XL are as weak today as ever, Zycher writes

www.detroitnews.com

Accordingly, without Keystone XL, the heavy oil will be produced, but transported by rail or truck, to be refined in northern or eastern refineries. Lighter oil from U.S. hydraulic fracturing operations will be sent to the Gulf Coast refineries despite the fact that those facilities are optimized for heavier crudes. So, the net effect of stopping Keystone XL will be an inefficient allocation of crude oil geographically. In short: Without the pipeline, railroad capacity will grow, overall safety will decline, and economic costs will be higher. Who would benefit from that outcome?

 

[User Name]

The Keystone Pipeline never killed anyone, but oil transported on rails owned by Warren Buffet has killed dozens.

Pipelines in the US have resulted in the following:

• more than 5,500 total incidents
• almost 600 injuries
• more than 125 fatalities
• more than 800 fires
• almost 300 explosions

Pipeline Incident Statistics Reveal Significant Dangers

The US needs to stop the fossil fuel epidemic and transition as quickly as possible to clean energy sources that do not leak, spill, or explode, and will help protect our clean air, clean water, communities, and wildlands.

www.nrdc.org

 

[User Name]

Planned Parenthood gets cash payments from the US government. Oil companies do not.

Planned Parenthood receives more than $500 million annually in government funding, mostly through Medicaid and grants. Most of this money goes toward providing low-income women with family planning services like STD screening and contraceptive coverage. Planned Parenthood is, without a doubt, one of the largest providers in this space: Of the 6.7 million women who rely on public programs to pay for contraceptives, 2.4 million of them — 36 percent — do so at Planned Parenthood's 817 clinics across the country.

Planned Parenthood gets over $500 million annually in public funds. Here's where it goes.

Vox is a general interest news site for the 21st century. Its mission: to help everyone understand our complicated world, so that we can all help shape it. In text, video and audio, our reporters explain politics, policy, world affairs, technology, culture, science, the climate crisis, money...

www.vox.com

 

[marke]

Pipelines in the US have resulted in the following:

• more than 5,500 total incidents
• almost 600 injuries
• more than 125 fatalities
• more than 800 fires
• almost 300 explosions

Pipeline Incident Statistics Reveal Significant Dangers

The US needs to stop the fossil fuel epidemic and transition as quickly as possible to clean energy sources that do not leak, spill, or explode, and will help protect our clean air, clean water, communities, and wildlands.

www.nrdc.org

The Keystone Pipeline has not killed anyone. But what of pipeline accidents? Do you think the US should do away with pipelines? What about trucks? Do you think trucks should be banned because of accidents? You claim there have been more than 125 deaths associated with pipelines over almost 9 years. There were more than 4,000 deaths from truck accidents in just one year with those numbers rising every year.

Truck Accident Statistics (2021 Edition) | Policy Advice

A comprehensive collection of the latest truck accident statistics, including death rates, common causes, and preventive measures and provisions.

policyadvice.net

5. There were 4,102 deaths in truck wrecks in 2017, showing a 52% increase since 2009.​

According to data from the U.S. Department of Transportation’s Fatality Analysis Reporting System (FARS), there have been a total of 4,102 casualties in multiple-vehicle crashes involving a truck. This number shows a significant 52% rise from the lowest point back in 2009 since the report was first drawn up when only 3,147 were killed in the same manner.