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Author Topic: Fossil Fuel Subsidies - The Invisible Ones are Worse Than the Obvious Ones!  (Read 2637 times)

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AGelbert

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German Government plans to phase out support for fossil fuel heating systems by 2020 

The federal economy ministry (BMWi) plans to phase out support for heating systems that run entirely on fossil fuels by 2020, as part of its new “Energy efficiency and heat from renewable energies” strategy.   

Industry opposition to the plans is inevitable, Dana Heide writes for Handelsblatt.

The government aims to clean up the current parallel, and sometimes muddled” support for energy efficiency measures in buildings, Heide says.

In a press release, state secretary Rainer Baake said the plans “implemented an important measure of Germany’s Climate Action Plan 2050”. But it remains to be seen if the strategy will be carried through by a new government after the federal elections in September, the article says.

https://www.cleanenergywi...-state-vote-key-coal-exit

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AGelbert

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Agelbert NOTE: ALL of the following events are part and  parcel of just ONE aspect of the PREDICTED Catastrophic climate change activity from having TOO MUCH CARBON DIOXIDE in our Atmosphere. There will be a LOT MORE of them. This is just the leading edge. Catastrophic climate Change is HERE NOW. Every COST we incur because of these storms is a HIDDEN SUBSIDY for the fossil Fuel Fascist Polluters. 

Have a nice day.   



Sky split open: Moscow hit by ‘downpour of the century’ (VIDEOS, PHOTOS)   
 

Published time: 30 Jun, 2017 15:18

Moscow Region has been hit by a powerful storm that brought heavy torrential rains and hail. The capital has not seen such a storm in almost 100 years, according to meteorologists.  :o                     

https://www.rt.com/news/3...6-moscow-storm-hail-rain/


Driving home today (in NY State) I was in the hardest downpour I have ever seen. I was driving uphill on had 6 inches of water on the road. There was rain mixed with sleet and small branches. Two lanes reduced to 5 MPH all with flashers on. Then after about 15 minutes it stopped.

There will be more of these events and they will occur more often. They are called microbursts. Their increasing frequency and duration are part of the predicted Catastrophic climate Change now arriving thanks to the fossil fuel polluter fascists.

We had a couple of them recently in Vermont:

Quote
Two Microburst Event on 18 May 2017
1.) Introduction:
On 18 May 2017 scattered strong to locally severe thunderstorms erupted across portions of the Champlain Valley, as well as parts of central and northern Vermont. A warm, moist, and unstable air mass was in place from the Eastern Adirondack Mountains into Vermont with surface temperatures in the mid-80s to lower 90s. The temperature reached 93 degrees in Burlington, VT, which tied the all-time record for warmest maximum temperature for the month of May, along with breaking the daily maximum temperature for the date. This impressive heat helped to fuel the afternoon and evening showers and thunderstorms.

This severe weather event had three areas of concentrated that included Western Addison County on Potash Bay Road, South Burlington/Williston area, and across the Northeast Kingdom near Barton, VT. The NWS Burlington Office determined from a storm survey the damage which destroyed a camp and knocked down trees and powerlines on Potash Bay Road in the town of Addison, VT was caused by a microburst with estimated wind speeds of 80 to 100 mph. Another microburst occurred in South Burlington causing trees and power lines to come down, along with a measured 58 mph wind gust at Burlington International Airport, before we lost power to the observing equipment. Additional damaging thunderstorm wind gusts blew over a tractor trailer in Barton, VT with areas of trees and powerlines down in parts of the Northeast Kingdom. Figure 1 below shows a plot of storm reports across the North Country on 18 May 2017.
See Appendix A for entire listing of severe weather reports received by NWS BTV.
 

Read more at link:

http://www.weather.gov/media/btv/events/2017-05-18%20Microbursts/summary.pdf


The Fossil Fuelers   DID THE Climate Trashing, human health depleting CRIME,   but since they have ALWAYS BEEN liars and conscience free crooks, they are trying to AVOID   DOING THE TIME or     PAYING THE FINE!     Don't let them get away with it! Pass it on!   
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

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http://www.youtube.com/wa...mbedded&v=kY-ZnpWbJdw

The fossil fuel industry is NOT PAYING IT; WE ARE! 

   
« Last Edit: July 23, 2017, 02:43:43 pm by AGelbert »
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AGelbert

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The Republican Crocodile Tear "Tax Reform" SCAM to get more SWAG for Rich Corporate Welfare Queens

"Skinny Repeal" Failed  ;D, So Watch Out for "Tax Reform" Next (w/Congressman Keith Ellison)


July 28, 2017

Thom is joined by Congressman Keith Ellison (D-MN, 5th District, Deputy Director - DNC) to talk about the failure of "Trumpcare" and what tricks republicans will be up to next that we'll need to shut down.

Congressman Ellison and Senator Sanders will counter the Republican attempt to cut more money from badly needed social services by offering a bill that REALLY can cut Government costs a LOT  (but the Repukians will be quiet as DEATH about that OBVIOUSLY excellent TAX REFORM Bill because it CUTS the subsidy SWAG from the fossil fuel "Industry" polluter  WELFARE QUEENS).

Yeah, I know. The Bought and paid fors like Pelosi and the other Blue Dog and **** Devilcrats will not support the Sanders/Ellison Bill either. 

Sorry Grandma. Meals on wheels was just cancelled so that subsidies for our loyal servants, the Fossil Fuel Industry, would not be. Have another banana, Grandma. 
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AGelbert

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The U.S. Tax Code — $4.6 Billion In U.S. Oil Company Subsidies    Per Year

October 14th, 2017 by Cynthia Shahan

In a new study of 800 undeveloped U.S. oil fields, researchers found that about half of the fields will never go into production … if oil company tax breaks are taken out of the picture. In related matters, without a shadow of a doubt, renewable energy offers jobs. Renewable energy offers jobs with a future — not temporary part-time work, but jobs that are probably sustainable well on into the future.

Obama was supporting such policies — an end to oil and other fossil fuel subsidies, solar power for low- and moderate-income families that also created jobs, a program to train 25,000 veterans for new solar jobs, and much more. He was pushing for a fresher, more productive future.

What person does not want pure air to breathe, clean water to drink, a future for their children that makes them less likely to get cancer, heart problems, etc.? Yet, we still have oil subsidies — taxpayers covering oil company costs in a variety of ways.

“In a new study Monday in Nature Energy, SEI researchers looked at newly discovered U.S. oil fields that have not yet been put into production — all 800 of them,” Tim McDonnell of The Washington Post reports.

Quote
“The researchers found that about half of these undeveloped fields would never go into production, (assuming an oil price of $50 per barrel, close to where it is today) — if oil company tax breaks are taken out of the picture. The study is based on the current range of subsidies and doesn’t account for changes that could result from the new GOP plan.

“But if the range of subsidies offered today remain, those new wells could produce up to 17 billion barrels over the next few decades, SEI found, which in turn would produce around six gigatons of carbon dioxide. To meet the goal set out under the Paris climate agreement to keep warming ‘well below 2 degrees C above pre-industrial levels,’ the United States can emit no more than 30 to 45 gigatons of CO2 between now and 2050.”

A society of sustainable, productive work in clean energy is inspiring. Instead, sacrificing jobs, the economy, and American health and well-being, the current White House wants to go in the wrong direction. It is something akin to the infamous delusion of a young, uneducated queen saying, “Let them eat cake.” That is what the administration sounds like too many days of the week. Fortunately, useful information continues to stream.

This is how you create jobs:




Tax reform is a vitally important issue. It can help fight climate change. McDonnell clearly points out, “Just not the kind of tax reform Trump and Republicans are proposing.”

Going on: “the oil industry is still calling it a win, citing proposals that would make it easier for oil companies to recover their investments in exploration and to shield profits earned from drilling overseas, in addition to lowering the corporate tax rate to 20 percent.”

Can someone please ask Trump on what kind of planet he sees his grandchildren and great-grandchildren living if he continues to ignore clean air initiatives?

Maybe an imploding planet is a metaphor for the president’s state of health.


“The tax blueprint also expands Trump’s reversal of Obama-era climate measures. In 2009, President Barack Obama joined other Group of 20 leaders in a pledge to phase out fossil fuel subsidies eventually. The GOP tax plan gives little indication of keeping that commitment — and that could have significant implications for U.S. oil production and the climate.”

Backwards, backwards, backwards — into a quicksand of confusion and tragedy for the well-being of the general population. This heartless tax shelter for the profiteers of future pre-existing conditions — and not a few dollars to help hungry children in schools. Ignoring solar job potential while subsidizing some of the richest companies in the world.

McDonnell continues, “Already, the U.S. oil industry benefits from a dozen specialized subsidies adding up to about $4.6 billion per year, according to a 2015 review by the Obama administration. Among other things, the subsidies reduce the costs of labor and equipment involved in drilling — and shield some of the profits earned on the oil itself. Those tax breaks and other subsidies don’t just help the industry a little bit. In many cases, they determine whether it’s even worth drilling in the first place, according to a study earlier this year from the Stockholm Environment Institute, a nonprofit research organization.

Without federal and state subsidies, nearly half of U.S. oil production — about 45 percent — would be unprofitable at current prices, the researchers found. So, unless oil prices go rocketing up, reducing or eliminating those subsidies would likely lead to a significant reduction in oil production over time".

https://cleantechnica.com...mpany-subsidies-per-year/

Agelbert NOTE: These God Damned (and I'm not swearing here) Fossil Fuel Polluter WELFARE QUEENS go out of business or most humans die, PERIOD.
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AGelbert

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Scott Pruitt    says subsidies give renewables an unfair edge, and here’s why he’s a monumental hypocrite

LAST UPDATED ON OCTOBER 10TH, 2017 AT 4:37 PM BY ALEXANDRU MICU
Mom says I’m good at Photoshop, ok?  ;D Image credits me / ZMEScience, free to use with attribution.

In a pioneering display of cognitive dissonance, EPA chief Scott Pruitt said on Monday that he would to do away with subsidies for renewable energy and let them “stand on their own and compete against” other sources of energy, such as fossil the latter being heavily subsidized, and has been so for decades. 
 




Another week, another Pruittism This Monday, the Environmental Protection Agency Administrator said that he believes federal tax credits for wind and solar power should be eliminated in the interest of fair play on the energy market.

I would do away with these incentives that we give to wind and solar,” he told attendees at a Kentucky Farm Bureau event.

“I’d let them stand on their own and compete  ;) against coal and natural gas and other sources, and let utilities make real-time market decisions on those types of things as opposed to being propped up by tax incentives and other types of credits that occur, both in the federal level and state level,” he further explained.

Now, I like hypocrisy just as much as the next guy (spoiler alert: I don’t ) but Mr. Pruitt definitely went to previously un-dredged lows with that announcement. To see why, let’s take a look at what subsidies are and how they play out across the energy sector.

Here’s the too long; didn’t read version, presented by David Hochschild, a commissioner with the California Energy Commission, at the Energy Productivity Summer Study in Sydney in February 2016. Image via CleanTechnica.


Subsidy, according to the Merriam-Webster dictionary

A grant or gift of money: such as:
a) a sum of money formerly granted by the British Parliament to the crown and raised by special taxation
b) money granted by one state to another
c) a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public.

We’re interested in the latter meaning of the word. Let’s take a look at the subsidies Mr. Pruitt would do away with:

1.Wind power currently enjoys a tax credit of about 2.3 cents per kWh produced, and the measure starts phasing out this year and will expire completely in 2020.
2.Solar energy investments get tax credits equal to 30% of their sum to encourage companies to invest in the sector. These credits will expire completely by 2022.

These incentives enjoy wide support among environmentalists and Democrats, while direct competitors of renewable in the energy market obviously oppose them, as do some Republicans. They’ve been touted again and again as the sole reason why renewable energy has seen such rapid growth in recent years, and the fossil fuel industry has been endlessly complaining they’re an unfair advantage.

Now let’s take a look at the subsidies oil, gas, and coal receive, as quantified by researchers at Oil Change International (full report at the bottom of the article). The sums in brackets are the estimated costs per year of these subsidies. Find a comfy seat, ’cause this is going to take a while.

The monetary black hole that is fossil fuel subsidies

Exploration and production related:

1.Intangible drilling oil & gas deduction ($2.3 billion): Independent producers can fully deduct costs that aren’t directly related to the final operation of wells (such as labor, surveying, ground clearing, including development costs). Integrated companies can deduct 70% up front and the rest of 30% over five years.
2.Excess of percentage over cost depletion ($1.5 billion): Independent fossil fuel producers can deduct a percentage of their gross income from production, reflecting reservoir depreciation.

Non-production related:

1.Master Limited Partnerships tax exemption ($1.6 billion): A special corporate form that is exempt from corporate income taxes and publicly-traded on stock markets, primarily available to natural resource firms, the majority of which are fossil fuel companies.
2.Last-in, first-out (LIFO) accounting ($1.7 billion): Allows oil companies to assume for accounting purposes that they sell the inventory most recently acquired or manufactured first. When inventory is experiencing increasing prices, LIFO assigns the most recent prices to cost of goods sold and oldest prices to remaining inventory, hence resulting in the highest amount of cost of goods sold and lowest taxable income for the company. It gets even better! LIFO-like measures are prohibited under international financial reporting standards.

Fire-sale on federal lands:

Author’s note: these methods hand over energy resources from public lands and federally-controlled waters to the fossil fuel industry at extremely low relative prices.

1.Lost royalties from onshore and offshore drilling ($1.2 billion): outdated royalty exemptions, rate setting, and procedures for assessing oil and gas production on federal lands shortchange taxpayers by more than a billion dollars each year. If the federal government were to charge a 20% royalty rate for onshore drilling, the lowest rate charged by the state of Texas, taxpayers would benefit from an additional $3 billion in revenues.
2.Low-cost leasing of coal-production in the Powder River Basin ($963 million): allows coal companies to lease federal land at low costs in the Powder River Basin (PRB), a mostly federally-owned coal-producing region in Wyoming and Montana that accounts for 40 percent of U.S. coal production (and 85 percent of coal production from federal lands). By exempting from ‘major coal producing region’ status, the federal government did away with requirements to plan and monitor coal production according to a systematic management process, making for significantly lenient lease rates in the PRB.

From now on I’ll just give a few examples in each category, and I’ll keep them short because most of you are probably dozing off by now.

Coal Bailouts:


Author’s note: as coal companies become insolvent, taxpayer dollars cover their obligations to communities and workers.
1.Inadequate industry fees recouped to cover the Abandoned Mine Land Grant Fund ($400 million).
2.Inadequate industry support to cover worker health impacts ($330 million).

Pollution subsidies:

1.Deduction for oil spill penalty costs ($334 million).
2.Tar sands exemption from payments into the Oil Spill Liability Trust Fund ($47 million).

Subsidies that lock in fossil fuel dependence:

1.Enhanced oil recovery credit ($235 million in 2017, could cost $8.8 billion over the next decade according to The Office of Management and Budget).
2.CO2 sequestration credit ($95 million).

Gets hard to follow, so here it is in chart form for 2016:







Add everything up and you get $14.7 billion in federal subsidies and $5.8 billion in state-level incentives, for a total of $20.5 billion annually in corporate welfare. One-fifth of that goes to coal, the rest to oil and gas. Another factor at play here is continuity and length of these subsidizing schemes.

Another graph presented by Hochschild in Sydney, showing the short-term nature of the subsidies for renewable energy.


Quote
“There is a myth around subsidies, but there is no such thing as an unsubsidised unit of energy,” Hochschild told RenewEconomy after his presentation, and CleanTechnica later picking up on the quote here. “The fossil fuel industry hates to talk about that,” he added.

He explained that oil depletion allowances have been in place since 1926 and would continue, despite the fact that oil is “one of the most profitable industries in the world.” Insurance costs for nuclear plants, “without which there would be no nuclear plants,” are also a subsidy, CleanTechnica goes on to write. Drilling or fracking, which have been made exempt from compliance with the safe drinking water act, also serve as a subsidy by allowing natural gas companies to cut costs.

US wind and solar industries were stifled with repeated changes to their federal support mechanisms. The tax credits have been changed seven times in a decade, according to Hochschild.

“How can you plan a wind turbine factory or project in those types of conditions?” he asked.

A sliver of a crumb

Everything I’ve listed above is only part of the direct subsidies fossil fuel companies receive in the US, because the OCI only looked at direct production subsidies. OCI notes that the estimates of state-level subsidies are probably low, since many states don’t report the costs of tax expenditures (i.e., tax breaks and credits to industry), so data is difficult to come by.

Add to the above roughly $14.5 billion in consumption subsidies (things like Low Income Home Energy Assistance Program, which helps residents pay for heating bills,) $2.1 billion in subsidies for overseas fossil fuel projects, and probably the single greatest offender, indirect subsidies. This latter category involves things like the money the US military spends to protect oil shipping routes, or the unpaid costs of health and climate impacts from burning fossil fuels, which are naturally really hard to quantify precisely but navigate in the region of hundreds of billions of dollars.

It’s not happening in the US alone. According to the International Energy Agency, global subsidies for fossil fuels outweigh those for renewable energy more than 10-fold — CleanTechnica estimates it’s more than 13-fold if you don’t count biofuels. Vox reported that the International Monetary Fund estimates the world spends $500 billion in direct subsidies for fossil energy, a figure that increases to about $5.3 trillion a year after indirect spending (including environmental damages) are factored in.

But only Mr. Pruitt has the audacity to claim subsidies unfairly favor renewables, and they should be scrapped. It’s both hilarious and infuriating when the chief of the EPA says that, considering that the US’ subsidy policy on renewables is “hey we’ll help cover a bit of the cost of each unit of energy a wind turbine produces, and any company that invests in building solar energy will get just shy of 1/3 of that investment as a tax reduction. For the next 3-5 years.” Then it turns around and shells some $30 billion to fossil fuel companies every year.

Why? Well, as OCI concludes:

“In the 2015-2016 election cycle, oil, gas, and coal companies spent $354 million in campaign contributions and lobbying and received $29.4 billion in federal subsidies in total over those same years — an 8,200% return on investment.”

Every penny of that is paid from your pocket. Every year, your taxes pay for a company’s search for new deposits and the means to exploit them, its tax breaks, covers accounting artifices that are banned under international financing standards, forfeiture of royalties, dirt-cheap leasing, and finally they cover the costs when that company pollutes your air and water or simply fracks up big time and spills something or goes insolvent. Every year, some starting as far back as the 1900s.

All of it so that a fossil fuel company can keep making money, despite the fact that renewables can take up the job for less spending, fewer health impacts, less wealth concentration. And with 100% less global warming cover-up shenanigans.

So tell me again about how energy companies need to “stand on their own and compete” Pruitt, you brass-necked hypocrite.

OCI’s full report is available here. For a more comprehensive list of the subsidy schemes energy companies enjoy, as well as more details for the ones I’ve listed here, you can use the Green Scissors database.

https://www.zmescience.co...tt-pruitt-energy-subsidy/


The Fossil Fuelers DID THE Clean Energy  Inventions suppressing, Climate Trashing, human health depleting CRIME,   but since they have ALWAYS BEEN liars and conscience free crooks, they are trying to AVOID   DOING THE TIME or     PAYING THE FINE!     Don't let them get away with it! Pass it on!   






« Last Edit: October 17, 2017, 06:55:05 pm by AGelbert »
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