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The federal government does not directly subsidize fossil fuel production, distribution or consumption. The government allows for losses, due to failed explorat
by SoMisanthrope 9y ago
The federal government does not directly subsidize fossil fuel production, distribution or consumption. The government allows for losses, due to failed exploration. Not every well that you drill, brings in oil; or brings in sufficient oil to make that endeavor profitable. Any cost-offsets are in place to help ease the pain of failed wells.
- madengr 9y agoSo the $7,500 tax credit for an EV buyer is a subsidy? Yet the tax write-off for a failed well is not a subsidy? Anyway, I think the whole idea of a tax savings classified as a subsidy is ludicrous. It's as if the federal government owns 100% of may paycheck, and the 70% they allow me to keep is then a subsidy.