Ford Gets 9.2 Billion Bailout errrr Loan
This is just crazy stuff right here. I suppose the utility companies will be receiving their bailout loans soon to build green power generator plants? The cart is ahead of horse as usual. Link
Forum Discussion
propchef wrote:StonedPanther wrote:propchef wrote:
Direct oil and gas subsidies are far greater than $2b.
Huh?, the number is 9.2 Billion.
"The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year"
Wonderful. So they handout a subsidy to one corporation worth almost 50% of the subsidies handed out to an entire Industry which is hundreds of times larger? That's great...................for someone, the average taxpayer not so much.
Read that again.
If you're OK with $20bb in subsidies for oil (that makes record profits every year) you should be OK with $2b to save jobs.
You need to read it again.
The fossil fuel Industry employs somewhere in the neighborhood of 950,000 in the US. That's Oil/Natural Gas/Coal, which only includes extraction and processing, not the other millions of jobs in trickle down industries such as plastics, distribution, etc. Those are real jobs.
20 Billion \ by 950,000 = $21,052 per REAL JOB
A 9.2 billion taxpayer funded loan to a corporation, not an entire industry, which may/might/possibly;y CREATE 11,000 jobs maybe? $836,363.00 per POTENTIAL job
Well that's rich LOL.
Now a "loan" is not exactly a "subsidy" per se but come on man, you really believe the spew? If 3 batteries plants are going to be so great with 11000 jobs and "profitable" why is a taxpayer funded loan or subsidy even needed. Ive seen these government involved deals at all levels fail over and over again. How about Solyndra? How about Lordstown motors? read into that.
