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Oil, wind subsidies on the chopping block in U.S.

Smart Planet -- Election year posturing in Washington has the parties locked into competing energy policy priorities with President Obama favoring a multi-billion dollar reduction in oil subsidies and Congressional Republicans content to allow wind energy tax credits expire.

Obama would shift monies from fossil fuels to support renewable energy and conservation programs. The budget proposes cutting more than US$40 billion in oil, coal, and natural gas subsidies. Funds would transfer to raise alternative energy and energy efficiency spending by 25 percent.

Department of Energy research to discover safer ways to obtain natural gas from shale formations would receive more support. Other focus areas include carbon capture, pipeline safety, and more funding for nuclear safety.

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Submitted Feb 19, 2012 By: pzini

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Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 21, 2012 7:46:04 PM Ignore Gnusman53 Report Abuse Seems the Salemite still like his witchhunts...and facts be damned...... or to quote Johnny Carson..."Wrong again, bacon breath" (grin).... [Edited by: Gnusman53 at 2/21/2012 7:48:00 PM EST]
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 21, 2012 7:45:17 PM Ignore Gnusman53 Report Abuse Well said orphancarguy.
Amplion Champion Author Oregon Posts:6,767 Points:1,865,060 Joined:Sep 2005	Message Posted: Feb 20, 2012 4:43:35 AM Ignore Amplion Report Abuse END ALL SUBSIDIES !!!!
rocky23hy Champion Author Massachusetts Posts:2,619 Points:1,862,740 Joined:Sep 2003	Message Posted: Feb 19, 2012 10:19:50 PM Ignore rocky23hy Report Abuse Let them compete the American way. Get the government out.
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: Feb 19, 2012 7:41:40 PM Ignore drpepperTX Report Abuse Leave it to an outfit like Smart Planet to confuse subsidy with tax break.
bullman68 All-Star Author St. Louis Posts:599 Points:366,285 Joined:May 2011	Message Posted: Feb 19, 2012 6:56:24 PM Ignore bullman68 Report Abuse Oil can stand on it's own.
MidNJ Champion Author New Jersey Posts:7,554 Points:1,172,595 Joined:Sep 2009	Message Posted: Feb 19, 2012 6:28:14 PM Ignore MidNJ Report Abuse From the article; "The budget proposes cutting more than US$40 billion in oil, coal, and natural gas subsidies." ========================= It is about time that we stop giving the oil and gas companies our tax money!
Van_Halen Champion Author Atlanta Posts:2,850 Points:641,230 Joined:Apr 2011	Message Posted: Feb 19, 2012 5:00:23 PM Ignore Van_Halen Report Abuse . End ALL subsidies and end them now. They are a waste of Tax Payer dollars, period!
orphancarguyPE Champion Author PEI Posts:3,843 Points:734,015 Joined:Jan 2011	Message Posted: Feb 19, 2012 3:12:52 PM Ignore orphancarguyPE Report Abuse A compelling argument on why there should be subsidies on various alternatives to what we have now ahead of when they are needed is contained within this mini essay, almost as an after thought as a throw away line. This also has answers to many other issues and current questions, BESIDES the idea of 'peak oil' http://physics.ucsd.edu/do-the-math/2011/11/peak-oil-perspective/ An interesting analysis of cost/benefit/opportunity/drawbacks for all sources of energy, alternative AND conventional in contained in this matrix. http://physics.ucsd.edu/do-the-math/2012/02/the-alternative-energy-matrix/
CVA19 Champion Author Salem Posts:2,393 Points:608,700 Joined:Aug 2011	Message Posted: Feb 19, 2012 2:45:30 PM Ignore CVA19 Report Abuse Gnusman, I'm sure you were spouting off that high gas prices were Bush's fault in 2008. And there are just as many democrats (if not more, especially your beloved Senators from California, and the former House Speaker) that are in "bed" with corporate interests and speculators. Get off your high horse--for once. Oil and wind subsidies should disappear... But, don't stop there... All energy subsidies, grants, loan guarantees, tax credits, and tax rebates need to eliminated.
playtimeCLE Champion Author Cleveland Posts:8,555 Points:1,543,400 Joined:Nov 2008	Message Posted: Feb 19, 2012 2:10:41 PM Ignore playtimeCLE Report Abuse At the end of the day, subsidies & tax breaks both leave less money in the governments "care" for the use of the people. This country has been in debt sense FDR was president. I just can't see how either party has done anything about it sense then. Can you?
Norm10 Champion Author British Columbia Posts:3,342 Points:162,925 Joined:Dec 2010	Message Posted: Feb 19, 2012 12:36:59 PM Ignore Norm10 Report Abuse I would hope so!
md11capt Champion Author Denver Posts:3,558 Points:709,980 Joined:Mar 2011	Message Posted: Feb 19, 2012 12:23:54 PM Ignore md11capt Report Abuse Gnusman you expect too much from clowns and no-nothings. All they know greed, greed, greed.
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: Feb 19, 2012 12:00:13 PM Ignore drpepperTX Report Abuse Absolutely correct again doeslayersr. If Obama and the Dems really wanted to do something they could impress on the Fed to quit printing money and devaluing the dollar and they could suspend the federal gas tax. They are in control and have been since 2006.
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 19, 2012 10:28:10 AM Ignore Gnusman53 Report Abuse After all...the GOP loves high gas prices so they can blame Obama while their "patrons" (another word may be political "johns") make billions off what taxpayers have to pay at the pump. If the GOP was really interested in lowering gas prices...they would have restricted outside groups, firms and companies from speculating on oil. So every vote for the GOP is a vote for high gas prices......and high corporate profits....... while financially castrating consumer buying power.
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 19, 2012 10:19:12 AM Ignore Gnusman53 Report Abuse So many wrongheads spouting again on this one...especially doeslayer's specious claim... Facts can be your friends guys.....leave fantasyland...you might like it (grin) [Edited by: Gnusman53 at 2/19/2012 10:22:28 AM EST]
MontanaMac Champion Author Washington Posts:1,736 Points:410,050 Joined:May 2011	Message Posted: Feb 19, 2012 10:15:31 AM Ignore MontanaMac Report Abuse Doeslayersr is right on yhis one.
paguy2012 Sophomore Author Pennsylvania Posts:109 Points:22,185 Joined:Jan 2012	Message Posted: Feb 19, 2012 10:06:48 AM Ignore paguy2012 Report Abuse finally but will never happen
fowlcan Champion Author Oklahoma City Posts:2,110 Points:683,615 Joined:Feb 2011	Message Posted: Feb 19, 2012 9:43:02 AM Ignore fowlcan Report Abuse The funds should stop! It is time too let it work or move on.
doeslayersr Champion Author Illinois Posts:9,111 Points:871,030 Joined:Dec 2010	Message Posted: Feb 19, 2012 9:36:45 AM Ignore doeslayersr Report Abuse Good. All true subsidies and rebates need to end. Let the product/service survive or not on its own merit and feasibility. However, the article is wrong (not a surprise when you consider the source) as the oil industry is not subsidized and never has been. They use tax credits which are available to ALL companies, not just oil companies. They do not received subsidies or humongous grants or tax payer secured loans like the so called "green" energy companies do. [Edited by: doeslayersr at 2/19/2012 9:41:30 AM EST]
MN1 Champion Author Twin Cities Posts:3,359 Points:650,590 Joined:Jun 2011	Message Posted: Feb 19, 2012 9:27:39 AM Ignore MN1 Report Abuse Ok
bar1035 Champion Author Charlotte Posts:9,152 Points:1,297,245 Joined:Aug 2006	Message Posted: Feb 19, 2012 9:25:47 AM Ignore bar1035 Report Abuse If we eliminate all subsidies then all users can pay for the product instead of just the golden 53% that pay taxes. Just a thought. [Edited by: bar1035 at 2/19/2012 9:26:47 AM EST]
123cowboy Champion Author Maine Posts:1,833 Points:403,570 Joined:Mar 2011	Message Posted: Feb 19, 2012 9:14:40 AM Ignore 123cowboy Report Abuse grandpadon28110 is right on...
1momsunshine Champion Author Ottawa Posts:5,488 Points:1,000,540 Joined:Mar 2010	Message Posted: Feb 19, 2012 9:01:14 AM Ignore 1momsunshine Report Abuse OK
wildddkattt80 Champion Author Phoenix Posts:2,143 Points:432,145 Joined:Jun 2011	Message Posted: Feb 19, 2012 8:57:56 AM Ignore wildddkattt80 Report Abuse k
coughlin Champion Author San Jose Posts:5,180 Points:1,117,640 Joined:Sep 2009	Message Posted: Feb 19, 2012 8:48:55 AM Ignore coughlin Report Abuse Hydrogen!
grandpadon28110 Champion Author Charlotte Posts:4,716 Points:1,142,310 Joined:Sep 2008	Message Posted: Feb 19, 2012 8:47:34 AM Ignore grandpadon28110 Report Abuse If it is viable private industry will make it work.
dorisntx Champion Author Fort Worth Posts:2,079 Points:645,855 Joined:Apr 2011	Message Posted: Feb 19, 2012 8:39:18 AM Ignore dorisntx Report Abuse ok
YaBassa Champion Author Michigan Posts:2,425 Points:516,125 Joined:Nov 2011	Message Posted: Feb 19, 2012 8:36:34 AM Ignore YaBassa Report Abuse Eliminate all subsidies to Big Oil and Gas.
1WI All-Star Author Appleton Posts:818 Points:274,255 Joined:Jan 2012	Message Posted: Feb 19, 2012 8:29:47 AM Ignore 1WI Report Abuse Okay
derKraut Champion Author Ontario Posts:2,094 Points:1,226,805 Joined:Dec 2008	Message Posted: Feb 19, 2012 8:15:58 AM Ignore derKraut Report Abuse Dump the subsidy on Ethanol before it hurts my car.
Luckylindy Champion Author Milwaukee Posts:4,514 Points:1,127,070 Joined:May 2008	Message Posted: Feb 19, 2012 8:15:14 AM Ignore Luckylindy Report Abuse When they say subsidies it sounds like the government is giving them tax dollars which isn't the case. All they did is reduce the tax rate. So the companies are paying less taxes, but are still paying them. Smoke and mirrors. Lets try less government and less taxes for all.
Rockyguitar Champion Author Tampa Posts:2,557 Points:1,201,595 Joined:Sep 2008	Message Posted: Feb 19, 2012 8:14:51 AM Ignore Rockyguitar Report Abuse I'm not sure I agree with the term "subsidy." Tax insentives for exploration are different from direct handouts ala Solyndra.
Joeski1 Champion Author New Jersey Posts:9,992 Points:1,741,610 Joined:Dec 2004	Message Posted: Feb 19, 2012 8:06:34 AM Ignore Joeski1 Report Abuse oil subsidies??? better get dr pep from Tx or doe killer on this..... only renewables get subsidies according to the TX fossil fooler bible....
JamesCalvin Champion Author Lancaster Posts:3,181 Points:518,480 Joined:Nov 2011	Message Posted: Feb 19, 2012 8:02:07 AM Ignore JamesCalvin Report Abuse Blow wind blow!
pscamp Champion Author Ottawa Posts:3,277 Points:474,385 Joined:May 2011	Message Posted: Feb 19, 2012 7:50:55 AM Ignore pscamp Report Abuse Yulp
jrs4125 Champion Author Indiana Posts:2,753 Points:590,770 Joined:Sep 2011	Message Posted: Feb 19, 2012 6:48:01 AM Ignore jrs4125 Report Abuse Sounds like a good plan. That's reason enough for it to fail in the beltway.
NGC4565 Champion Author Reading Posts:3,749 Points:746,915 Joined:Mar 2011	Message Posted: Feb 19, 2012 6:14:21 AM Ignore NGC4565 Report Abuse Nothing of substance here, just more election year posturing.
ReddevilNO Champion Author New Orleans Posts:3,365 Points:580,340 Joined:Aug 2011	Message Posted: Feb 19, 2012 6:00:59 AM Ignore ReddevilNO Report Abuse Say What?
wendy1john32 Champion Author Los Angeles Posts:1,757 Points:1,054,745 Joined:Jul 2009	Message Posted: Feb 19, 2012 4:14:41 AM Ignore wendy1john32 Report Abuse We can't afford these subsidies for wind.
djgunrunner Champion Author Salt Lake City Posts:10,099 Points:2,348,605 Joined:Apr 2005	Message Posted: Feb 19, 2012 4:04:02 AM Ignore djgunrunner Report Abuse Obama had better get his head out of the sand and start paying attention to what work and does not work. He should be supporting Natural Gas not some lame maybe or if stuff. While he is at it he should quit wasting money on trash like sloyndra and the others that have cost the taxpayers about 3 billion bucks.
Amplion Champion Author Oregon Posts:6,767 Points:1,865,060 Joined:Sep 2005	Message Posted: Feb 19, 2012 3:22:58 AM Ignore Amplion Report Abuse END ALL SUBSIDIES ....... OBOZO'S CRONIES HAVE ENOUGH OF OUR MONEY !!!!!
PuddinPal Champion Author California Posts:3,426 Points:671,365 Joined:Dec 2008	Message Posted: Feb 19, 2012 3:20:17 AM Ignore PuddinPal Report Abuse We should spend that money to go and get our own oil so we can quit buying it from the people that only want to kill us.
SilverDodge2000 Champion Author Spokane Posts:1,036 Points:185,390 Joined:Feb 2011	Message Posted: Feb 19, 2012 3:15:19 AM Ignore SilverDodge2000 Report Abuse Nobody, no group, no product should get subsidies. Let the market stand on it's own value and worth as defined by the people that need the product.
Bruno44 Champion Author Texas Posts:7,075 Points:1,768,195 Joined:Sep 2007	Message Posted: Feb 19, 2012 1:43:45 AM Ignore Bruno44 Report Abuse Sounds like "smart planet' is a greenie company.
Vetteblu Champion Author Denver Posts:2,670 Points:779,845 Joined:Oct 2010	Message Posted: Feb 19, 2012 1:36:05 AM Ignore Vetteblu Report Abuse With all the bending over I'm doing, I should be a thin shadow soon.
bills299 Champion Author Atlanta Posts:3,366 Points:904,490 Joined:May 2005	Message Posted: Feb 19, 2012 1:17:56 AM Ignore bills299 Report Abuse Wow!!!
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 19, 2012 1:09:08 AM Ignore SkyWarnTX Report Abuse --- INVESTORS have moved out of FINANCIAL STOCKS into OIL FUTURES which should be ILLEGAL. INVESTORS have moved BILLIONS of DOLLARS into OIL FUTURES to BET that OIL will be higher in MONTHLY BLOCKS but they NEVER TAKE DELIVERY instead SPECULATORS continuously ROLLOVER their DELIVERY DATE to the NEXT MONTH. ---
cloud23465 Champion Author Virginia Beach Posts:8,304 Points:1,616,300 Joined:Aug 2008	Message Posted: Feb 19, 2012 12:47:40 AM Ignore cloud23465 Report Abuse I can't run my car on anything but gas. Most of america can't either. I can't afford a hybrid/electric car... they're way out of my price range... same for alot of americans... smart move obozo... like your grants for green companies that have gone out of bussines.
jetskijerry Champion Author North Carolina Posts:3,896 Points:772,270 Joined:Mar 2011	Message Posted: Feb 19, 2012 12:46:35 AM Ignore jetskijerry Report Abuse Our taxes are already close to the highest in the nation..