4 ms·
Does the US government subsidize them at all? I wish we would pivot faster to renewable energy, but in the meantime we should also ensure we are not reliant onl
by dickjocke 7y ago
Does the US government subsidize them at all? I wish we would pivot faster to renewable energy, but in the meantime we should also ensure we are not reliant only on authoritarian states for energy.
- coliveira 7y agoYes, oil industry in the US is heavily subsidized. They pay less taxes than any other industry and receive free land and other government incentives for oil and gas exploration.
- perl4ever 7y agoThis is something "everybody knows", that it is "heavily subsidized" but I'm not aware of what rules and regulations are written to favor and apply only to the industry. Maybe you could summarize a bit?
- coliveira 7y agoThe easiest to spot is the favorable tax treatment. The oil industry has a sweet deal that slashes taxes on oil investment. The provisions are complex and written to facilitate big investments in this industry [1]. 1: https://www.energyfunders.com/blog/oil-investing-benefits/ https://www.energyfunders.com/blog/oil-investing-benefits/