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I know what the first hit of google says. It's the only thing anyone can give me when they assert that the O&G industry is the recipient of subsidization. And i
by missedthecue 6y ago
I know what the first hit of google says. It's the only thing anyone can give me when they assert that the O&G industry is the recipient of subsidization. And it's a total joke. It mentions stuff like asset depreciation and LIFO inventory accounting. Basic accounting principles are not subsidies, and are not specific to the oil industry. The author was clearly stretching to try to prove a political point; it is not an accurate representation of the facts.
The point is that the government does not pay you incentives to consume oil like it does for electric cars or solar panels.
- pestatije 6y agoIt is already explained in previous threads: the government does not tax for CO2 emissions. That's oil, gas, and coal's subsidy.
- jpgvm 6y agoBetter and more balanced source is the Wiki article that covers the entire energy sector and various subsidies that have been awarded to each: https://en.wikipedia.org/wiki/Energy_subsidy https://en.wikipedia.org/wiki/Energy_subsidy