Human population control is a huge issue.
Replacement breeding is a good thing.
This is my problem with immigration.
Off this topic though.
Originally Posted by Cyclist
Benefit/Cost try to keep up.
against because I don't want more calls wanting to sell me something, in this case power
For if those who push it so they can sign up with green energy sources don't get to piggy back off the traditional sources when the wind dies down, sun goes down, ect ect ect.
also, kill subsidy's for all and let the free market determine pricing.
FACT: Oil Companies Receive Several Industry-Specific Subsidies
Originally Posted by HomerSimpson
MYTH: Conservative Media Claim Oil Companies Receive The Same Deductions As Everyone Else.
Fox News correspondent Jim Angle said: "Though tax deductions for oil companies are the same every industry enjoys, the President likes to call them subsidies." [Fox News, Special Report, 3/13/12, via Nexis]
Fox's Elizabeth MacDonald said that oil companies "get the same tax breaks that manufacturing companies get, but the President is moving to yank those tax breaks for just oil and gas companies." [Fox News, Happening Now, 3/16/12]
Fox's Andrea Tantaros said oil companies "get the same tax credit that G.E. gets, that Apple gets. They are manufacturing tax credits. And these are the same tax credit that the president touted in his own State of the Union." [Fox News, The Five, 3/29/12, via Nexis]
Reuters: "Experts Across The Political Spectrum" Say Drilling Deduction "Is A Clear Exception Made For Oil." Reuters reported:
One major tax break for energy companies is a nearly century-old benefit letting them deduct "intangible drilling costs" (IDC) immediately rather than over time.
Most of the IDC is for the labor costs of drilling a well.
Legislation drafted by Democratic Senator Robert Menendez would limit this break, among others. Ending it completely would raise $14 billion over a decade, according to the White House.
Energy companies liken this benefit to the research and development tax break employed by companies like Apple Inc.
"All the labor (that) tech companies spend on research and development, everything that Apple spends designing the next new product, they recover," said Brian Johnson, a tax expert at the American Petroleum Institute. "Cost recovery is cost recovery."
Not exactly. Many tax experts across the political spectrum said the IDC is a clear exception made for oil. As a rule, expenses that produce income in the future are not immediately deductible. [Reuters, 3/26/12]
Even The Heritage Foundation Acknowledges That Oil Companies Receive Some "Special Tax Treatments." The Heritage Foundation rejects calling "broad tax policies that apply to many industries" subsidies, but acknowledges that the oil industry receives "Special Tax Treatments," such as the depletion allowance for oil and gas producers, and the Enhanced Oil Recovery and Marginal Well Production tax credits. [Heritage Foundation, 5/12/12]
CRS: "There Are A Number Of Tax Incentives" For Fossil Fuel Production. From the Congressional Research Service's April 2011 report on energy tax policy:
There are a number of tax incentives currently available for energy production using fossil fuels. They can be broadly categorized as either enhancing capital cost recovery or subsidizing extraction of high-cost fossil fuels. Between 2010 and 2014, the total cost of tax expenditures related to fossil fuels is estimated to be $12.2 billion.
Another CRS report identified several oil and gas industry specific tax deductions. Oil companies have been able to expense "intangible drilling costs" since 1913, deduct "tertiary injection expenses, including the the injectant cost," and deduct "geological and geophysical costs." Certain oil companies can use the percentage depletion allowance, which is designed to "provide an analog to depreciation for the oil industry," by treating oil in the ground as capital equipment. [Congressional Research Service, 4/14/11] [Congressional Research Service, 3/3/11]
NY Times: "Oil Production Is Among The Most Heavily Subsidized Businesses." The New York Times reported in July 2010 that "an examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process." [The New York Times, 7/3/10]
CRS: Oil Companies Receive Manufacturing Subsidy Even Though It Has "Little Effect" On Employment. One tax subsidy that Obama has proposed eliminating for oil companies is the manufacturing tax deduction. While other industries receive this deduction, the Congressional Research Service explains why the provision, "enacted in 2004 as part of the American Jobs Creation Act," is unique when applied to the oil industry:
Although the oil and natural gas industries are classified as manufacturing industries for data reporting and tax purposes, they differ from traditional factory manufacturing in a number of ways. For example, the production of petroleum products at a refinery is only indirectly related to the level of employment.
This implies that if wage costs go down due to the tax deduction, there is less chance that the result will be increased output due to higher employment. Even if employment did increase, it would have little effect on national employment levels due to the capital intensive nature of the industry. The Bureau of Labor Statistics reports that oil and natural gas extraction industries employed approximately 165,000 workers in 2009, of which fewer than 100,000 were classified as production workers.
The period since 2004, while difficult for American manufacturing as a whole, has been one of record profits for the oil industry. The generally high prices for oil prevailing since 2004 that have helped generate the record profits are seen as the critical factor in oil investment. Oil exploration tends to increase when prices are increasing, and expected to remain high, and decrease in times of falling prices that are likely to remain low. The variability, and level of, expected oil and natural gas prices is likely to be a more important factor in determining capital investment budgets, and hence exploration and production development budgets, than the repeal of a tax benefit that is capped by a relatively low wage bill. [Congressional Research Service, 3/3/11]
If energy were free and able to be gathered from the air or something for your own use, the government would require meters that track our usage and we would be taxed on it that way. Believe that.
Originally Posted by gandrfab
Fact: If any subsidies are taken from oil companies the cost will be passed on to consumers. I am not opposed to that but it will raise cost.
The heck you say! You tryin' to tell me that suppliers will pass additional costs to consumers?
Originally Posted by Zonian