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In the US? Please list some oil subsidies. The only real subsidies oil companies get are the ability to write off certain costs, mostly the capex related to dri
by MaxHoppersGhost 3y ago
In the US? Please list some oil subsidies. The only real subsidies oil companies get are the ability to write off certain costs, mostly the capex related to drilling unproductive wells (“dry hole costs”). Hardly a subsidy.
- acdha 3y agoThe tax write offs are significant (see https://iopscience.iop.org/article/10.1088/1748-9326/ac0a10#erlac0a10s2 https://iopscience.iop.org/article/10.1088/1748-9326/ac0a10#...) but most of the subsidies for fossil fuels come from this kind of stuff where the companies are known to be creating problems but will have taxpayers cover cleanup and environmental mitigation, increased healthcare costs, etc. When the government is picking up the cost for damaged houses which can no longer be insured due to climate change, that’s money which should have come from oil & coal companies’ revenues over the half century they’ve known that their products caused global warming but focused on preventing effective action.
- katbyte 3y agoNo Canada