In a New York Times editorial celebrating the recent demise of the ethanol subsidy, the Old Grey Lady once again descends into outright falsehood to malign the industry that Progressives love to hate: Congress should now focus on the oil industry, which has long enjoyed a web of arcane and unnecessary tax breaks — deductions for well depletion and intangible drilling costs. They are unique | Read More »
The latest dispatch in the New York Times‘ ongoing editorial series “Those Mean and Ignorant Republicans” comes from Bruce Bartlett, who served in the Reagan and Bush I administrations and on the staffs of Jack Kemp and Ron Paul. Bartlett is the kind of faux-GOPer that the Times likes to trot out to skewer Republicans. In this piece, he seems to go out of his | Read More »
This week, the Senate is set to consider the repeal of certain provisions of the tax code as they relate to the oil and gas industry. By styling these tax breaks as “subsidies”, the Administration and other opponents of the industry wrongly equate them with the benefits enjoyed by ethanol, wind and solar energy. But the tax credits for alternative energy production are true subsidies, | Read More »
Just wait. Just wait a little while. It’s axiomatic for conservatives, and other people with common sense, that if you want less of an activity, you tax it. If you want more, reduce the tax. Governor Jindal said that recently, but I’m sure he wasn’t the first. The oil and gas industry is tax advantaged. Historically, the government saw a benefit in encouraging drilling; tax | Read More »
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