Timmo! wrote:
Reisender wrote:
And thank you for pointing out how minuscule and limited the subsidies to EV’s is in comparison to the eternal, endless and trillions of dollars that the oil industry gets. :). Lol.
Cheers.
Please educate me. What tax break does the oil industry receive that is not available to other industries/companies? I am not aware of any special tax break that is exclusively targeted to oil and gas companies.
This article describes some of the fossil fuel industry subsidies:
The federal government provides numerous subsidies, both direct and indirect, to the fossil fuel industry. Special provisions in the U.S. tax code designed to specifically support and reward domestic fossil fuel?related production are direct subsidies. Other provisions in the tax code aimed at businesses in general create indirect subsidies that are not exclusive to the fossil fuels industry. In certain cases, quantifying these subsidies is fairly simple. In the case of indirect subsidies, establishing an amount associated with these subsidies is more challenging. While not covered in this fact sheet, another source of federal aid to the fossil fuel industry is the discounted cost of leasing federal lands for fossil fuel extraction. Some fossil fuel subsidies provide public assistance, such as the Low Income Home Energy Assistance Program (LIHEAP), which assists low-income households with heating costs.
