Federal Subsidies for Oil & Gas

Darkpriest667

Actually Attends
Jan 13, 2017
2,221
113
Jarrell TX, United States
There are oil and natural gas releases from the ocean floor constantly. Oil is nasty stuff but it is made in the earth and released n volumes that dwarf what man actually emits while producing it. I’m not claiming we are having zero effect on the climate or environment but we give ourselves way too much credit. Man will be long gone and the earth will still be here long after. I think there are a lot more things we could focus on like recycling and not wasting so much. People are terribly wasteful and we are all guilty just some more than others. We create a lot of unnecessary waste every day and I guarantee it has a much more negative effect on the environment than oil and gas production and consumption...just think about it.
I have solar panels on one of my houses, not because of clean energy but because I wanted to generate my own energy AND get a check from the electricity company once in a while.

OUR effects on the climate are MINISCULE. In 1815 there was an entire year without a summer because of one volcanic eruption. Volcanic eruptions have a much higher impact on the climate (and immediate impact as well) than does man made fossil fuels. To be fair if we were going to be having a climate change it would have occurred sometime between 1850 and 1950. That's when we were pumping out complete garbage into the atmosphere on some staggering scales.

In 1883 Krakatoa released 20 million TONS of sulfur into the atmosphere. In an instant. It also dropped the median temperature of the entire planet 2.5 degrees Farenheit for five years. These asshats now are saying if we do that we'd cause the end of the world. It's just not true.




Also the whole plastic in the ocean things is not a myth, but it's also not caused by the U.S. It's mostly China, India, and Africa that is causing plastic ocean pollution.
 

Rhino

Well-Known
Jan 22, 2009
1,193
113
DFW Area
I'm torn on this. I support the oil industry and actually do significant work for it regularly, but I do think some of our choices are unwise - not so much in transportation, but related to the food industry and packaging and plastic waste. Honestly, I wish we would make the effort to use more expensive durable alternatives like glass and paper because the landfills I also take photos of are going to be a BIG problem in the future, as is all the litter affecting wildlife and the oceans. The amount of TRASH out there is really appalling. Getting a trash-free pristine photo shoot is very difficult in commercial real estate, for instance.
 

Wolfwood

Self Appointed Board Chauvinist
TGT Supporter
May 12, 2009
6,913
83
got a bud of mine who saves up his milk jugs and other plastic waste, then distills them into diesel in his back yard.
 

popper

Active Member
Apr 23, 2013
863
63
subsidy definition is to provide income when the economy is down. oil industry goes down when field is restricted production or depleted. When you get paid to not produce it is a subsidy! Amortization is for depreciation of hardware, technically to 'save' for replacement. It just verbage, they use it to get what they want. Same with the 1200$ 'relief' check we got. It's a SUBSIDY!
Grants were part of the spoils of war. Done for eons. Subsidies were to keep industries in business. Dairy, farmers, steel, coal, oil and gas. Basic Gov. price support. What comes after subsidies? Gov. OWNED business! That is what we refer to as socialism. Everybody is subsidized. Kinda like education and transportation now. Local Gov. used to issue local bonds to pay for projects and local taxes payed off the bonds. Now they get 'grants' from state and Fed gov. for many silly projects. Never did understand when I was a kid why pork bellies were the main topic of the stock market. In the 40s and 50s, pork was the primary meat product.
 
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oldag

TGT Addict
Feb 19, 2015
10,132
113
subsidy definition is to provide income when the economy is down. oil industry goes down when field is restricted production or depleted. When you get paid to not produce it is a subsidy! Amortization is for depreciation of hardware, technically to 'save' for replacement. It just verbage, they use it to get what they want. Same with the 1200$ 'relief' check we got. It's a SUBSIDY!
Grants were part of the spoils of war. Done for eons. Subsidies were to keep industries in business. Dairy, farmers, steel, coal, oil and gas. Basic Gov. price support. What comes after subsidies? Gov. OWNED business! That is what we refer to as socialism. Everybody is subsidized. Kinda like education and transportation now. Local Gov. used to issue local bonds to pay for projects and local taxes payed off the bonds. Now they get 'grants' from state and Fed gov. for many silly projects. Never did understand when I was a kid why pork bellies were the main topic of the stock market. In the 40s and 50s, pork was the primary meat product.
Sorry, but you are mistaken here. Oil companies get paid by customers, not the government. They are not paid not to produce.

Depreciation is real. Assets like equipment and oil fields lose value over time. Does anyone think that an oil field with 20 million barrels of oil (for instance) has the same value as one with 1 million? Of course not. Is your car worth the same new as when it is 20 years old and has 200,000 miles on it? Same thing.

You are confusing this with agriculture. Farmers can be paid to leave their fields fallow.
 

SQLGeek

TGT Addict
TGT Supporter
Sep 22, 2017
7,792
113
Richmond
If they refer to operating expenses being used as tax deductions that’s not really a subsidy.
I've been saying this to anyone who will listen (and many who won't) for years and years. This is what most think of when they hear "subsidy". Usually that's borne out of ignorance other times out of malice.
 

popper

Active Member
Apr 23, 2013
863
63
Try again. You pay gross taxes on all assets (hard or soft) and then get a 'rebate' for 'costs' - same thing. Any 'benefit' provided by the Gov. is a 'subsidy'! Gov. 'benefit' to keep you profitable (stay in business). Lower income families are given a 'subsidy' by allowance of deductibles on taxes. Grants are unearned 'gifts'.
You can weasel word anything.
 

SQLGeek

TGT Addict
TGT Supporter
Sep 22, 2017
7,792
113
Richmond
Try again. You pay gross taxes on all assets (hard or soft) and then get a 'rebate' for 'costs' - same thing. Any 'benefit' provided by the Gov. is a 'subsidy'! Gov. 'benefit' to keep you profitable (stay in business). Lower income families are given a 'subsidy' by allowance of deductibles on taxes. Grants are unearned 'gifts'.
You can weasel word anything.
And of the ~$10.7 billion quoted above, $8.5 Billion are exactly what I was referring to. Thank you for making my point for me.
 

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