Let's Save Energy at Home and Tax Oil

Who gets the most tax breaks, renewable energy or oil companies?

by Don Ames

Oil Drilling Gets More Tax Breaks Than Solar Power! Let’s swing the oil platform around and support energy savings and conservation, one home at a time.

New York Post by David Kocieniewski. “An examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process. When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes. With federal officials now considering a new tax on petroleum production to pay for the cleanup, the industry is fighting the measure, warning that it will lead to job losses and higher gasoline prices, as well as an increased dependence on foreign oil.”

I can see the fight brewing and getting nasty. The oil companies will get taxed at a higher rate so they will work even harder to get around the tax code. I will bet there are some nice office buildings still standing in Iraq somewhere. And if the oil companies can not get out of the tax they will just pass the tax on to the consumer at the gas pump. The American tax payer will have no choice, stay home or drive an electric car.

Hear that, that is an Iowa corn farmer yelling, yes, tax the bums.

Hay, come back soon…but, I won’t leave the light on for you… DonAmes, detectenergy.com