58 comments on Proposed Tax Changes on US Oil and Gas Producers
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58 comments on Proposed Tax Changes on US Oil and Gas Producers
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Thanks for pointing this out Nate!
The writers of this clearly don't understand what we are up against. We are not in a position where we can just import more oil if we need it, and renewables cannot do much very quickly.
Tax rates are already tipped quite far toward renewables. This is a comparative tax schedule, showing taxation prior to proposed changes from a paper analyzing tax rates published by the Manhattan Institute:
The first column of number is current effective tax rates. Negative tax rates indicate a subsidy. The amounts in the last two columns show how these tax rates would differ if there were no tax credits and if economic depreciation were used.
Could you clarify what you mean when you say that renewables cannot do much very quickly.
Quickly is the term in question. I have seen a major company in another country start up, transfer the technology from the West, go into production and set up wind farms all within one year. OK, so the percentage of power added by the wind farms may be small, but if we add renewable energies (wind and other) to a reduced demand then would this be quickly enough?