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Wednesday
Sep082010

Green VS Oil - The Race For Taxpayer Subsidies

The Lonely Conservative

I came across this article and found the content very informative. The article points to some figures that would contradict those who like to demonize the oil and gas industries. There is a segment of society that no matter what the facts presented are, will always believe that the oil companies are run by Lucifer and his band of henchmen. Never mind that those who do the criticizing drive around in cars and use petroleum based products. We have highlighted this hypocrisy before and I will not waste time reminding you.

What the article points out is the myth that big oil gets all sorts of special breaks and favoritism from DC. While they do get corporate tax breaks, they are not exclusive to the oil industry. As we pointed out in yesterdays blog, several other industries get the same breaks. However, people who continue to say that oil companies are making extreme profits at the tax payers expense are just flat wrong. There are several other industries that make more as a whole while receiving subsidies.

Furthermore, the one new industry that appears to really be making out like a bandit at the tax payer trough is not oil, but green/renewable energy industry. That would be their slice under industry specific. Oil companies get their break under changes to depreciation rule.

As you can see, their is money flowing to the alternative energy industry. It may not be as much as they want, however in these times of low tax rolls and high government debt, we can only do so much. I bring all this up because I would like to see these groups work together in getting us to a green energy society. By demonizing the oil companies, they not only make ignorant statements and look stupid, but they also criticize a group that will probably be the leaders of renewable energies when all is said and done. These companies are not run by idiots. They know we have limited resources and by expanding into new areas such as renewable energy, they can guarantee themselves growth and profit. Capitalism can be good for the planet. In the end, working together will be better for us all. And as the old saying goes, catching bees is easier with honey than with vinegar.

Tuesday
Sep072010

Proposed Energy Tax To Punish Domestic Oil Companies

SF Examiner

There is a current proposal to eliminate foreign tax credits for US based oil companies. What it comes down to is if you get taxed abroad on income earned on foreign soil, then you will be taxed here as well. Essentially you are being taxed twice. Good for filling empty government coffers, not so good in helping keep American oil companies competitive. What's more, congress has reduced the production of American goods incentive for oil companies from 9% to 6%. All other industries got to keep their 9%.

I'm not sure what to make of all this bluster against oil companies. As I have said many times on these pages, the amount of products and energy made by these companies is staggering. With their oil and their petroleum based products, we get to live in an advanced society. Without it, we might as well be living in the 1700's.These companies, while producing goods and products are also some of the biggest employers. Not to mention some of the biggest investors in green technology. I hope people consider these things before running them into the ground. You never know, they may decide some day that being based in the US is not worth the trouble and take their money and jobs elsewhere.

Friday
Sep032010

Happy Labor Day!

From all of us at Ports-To-Plains Blog, I would like to wish you a happy Labor Day weekend. Please be safe while enjoying time with family and friends this weekend. If you are like me, then college football will be at the top of your holiday menu. Take care and enjoy.

Thursday
Sep022010

More Fallout From IPCC Scandal

New York Post

There appears to be more fallout from the IPCC scandal. The article questions whether the general public should be reluctant in believing anything coming from the scientific community. This is an absolute shame and the scientific community has no one to blame but themselves. I guess scientist are only human and can be bribed and cajoled like everyone else. 

It appears the the media is finally waking up to the hoax and giving it column space. I am glad that people are questioning what they have been told and will hopefully push for the truth. Frankly, this was a con job from the start. With the amount of grant money and government (tax payer) funds that have been pumped in that direction, there should be indictments and jail time. Please read the IAC report and educate yourself and others who have been led to believe the lies. Hopefully, with a strong enough response, scientist and politicians will think twice about trying something like this again.

Thursday
Sep022010

BREAKING...

Forbes

Mariner oil rig explodes in Gulf. All workers appear to be rescued. Early reports suggest that no oil or gas is leaking from the site. Looks like another shot across the bow for oil producers.