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The US government lets oil companies get away with drastically underpaying royalties for oil extracted from federal land. That's pretty close to a direct cash s
by blacksqr 7y ago
The US government lets oil companies get away with drastically underpaying royalties for oil extracted from federal land. That's pretty close to a direct cash subsidy.
The government could deal with its deficit problems and have a de facto carbon tax just by auditing the oil companies and making them pay the royalties they agreed to pay.
- tachyonbeam 7y agoAre there actual direct tax breaks, direct government funding for oil companies? I'm pro-solar, a TSLA investor, but also feel it seems dishonest to use the word subsidy to mean long-term environmental costs. Those costs are obviously not good for us, but they are not subsidies per-se, using that word gives the impression that the government is directly wiring money to oil corporations.