 | A Little History of the Affordability of Domestic Energy in Great Britain | The Oil Drum: Europe | Post Peak Iberia |  |
76 comments on BP CEO: Oil markets will save us
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76 comments on BP CEO: Oil markets will save us
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When he says 'modernizing tax structures', perhaps he means that if they invest their profits in solar and wind, the government won't tax them away as he expects them to if they don't.
Give him the benefit of the doubt. He's not a politician. He doesn't have to be an idiot.
I'm sure that they have the same opportunities and writeoffs as everyone else if they wanted to invest in renewables in a serious way. Waht he is really asking for is effectively a tax structure which will socialise the losses of exploration but privatise the profits of production. I don't think he is an idiot, he's a capitalist.
Well in the US, the laws providing the incentives for renewables have lapsed in part (or close to all) from what I understand about some legislation that got blocked recently. He won't have to worry about taxes here forever. When it gets bad enough we will nationalize the petrochem industry... we're running out of countries to invade.