"We find that, at recent oil prices of US$50 per barrel, tax preferences and other subsidies push nearly half of new, yet-to-be-developed oil investments into profitability, potentially increasing US oil production by 17 billion barrels over the next few decades."https://www.nature.com/articles/s41560-017-0009-8.epdf?
Tuesday, February 25, 2020
Half of new oil production in US requires subsidy at $50 price
Tuesday, February 18, 2020
British Columbia giving taxpayer gift of $5.35 billion gift to Gas company
The “right” fiscal framework amounts to a bouquet of government subsidies for B.C.’s largest carbon polluter, including tax reprieves, tax exemptions and cheaper electricity rates for some of the largest and most profitable multinationals in the world — the LNG Canada quintet of Royal Dutch Shell, Mitsubishi Corp., Malaysian-owned Petronas, PetroChina Co. and Korean Gas Corp.
At a technical briefing for media, a B.C. senior government official pegged the province’s total financial incentives for the project at $5.35 billion.https://thenarwhal.ca/lng-canada-project-called-a-tax-giveaway-as-b-c-approves-massive-subsidies/
Sunday, February 16, 2020
Anti-business tax to support cars - let's get cars off welfare
Densely populated metropolitan areas like New York City have become ground zero for clashes among cars, bikes and trucks competing for limited parking spaces. For delivery companies, the tight fit means racking up huge parking fines as a cost of doing business.https://www.freightwaves.com/news/ups-hit-with-22m-in-nyc-parking-fines/amp
Friday, February 14, 2020
Trolls still asking "who will pay for #freepublictransport?" while EU votes €24 billion for gas
Energy projects on the 4th PCI list are eligible to receive up to 50% of funding from the EU through the Connecting Europe Facility (CEF). Among the 151 projects included on the list, 55 new fossil gas projects have sparked the greatest backlash.
"This decision could unleash €24 billion in finance for climate-wrecking pipelines and €1.7 billion for new LNG (liquified natural gas) terminals, which eclipses the €7.5 billion of new resources due to be raised to tackle the climate crisis through the EU's plans for a 'Green Deal,'" said Clemence Dubois, campaigner at climate group 350.org.
Sunday, February 9, 2020
No money for #freepublictransit, but $260B needed to clean up oil mess
Cleaning up Alberta's fossil fuel industry could cost an estimated $260 billion, internal regulatory documents warn.https://www.nationalobserver.com/2018/11/01/news/alberta-regulator-privately-estimates-oilpatchs-financial-liabilities-are-hundreds
100,000 oil wells need clean up in Alberta, Canada
The number of wells in the province slated to be remediated is about 3,000. However, there are more than 100,000 unproductive wells that will need to be cleaned up.
"The mess continues to grow," said Mark Dorin, who has had a problem well for more than a decade on his family's land near Didsbury, a town located 80 kilometres north of Calgary. For several years, the well was leaking gas into the air. His mother, Shirley, said it impacted her health when she would be out in the yard.https://www.cbc.ca/amp/1.5089254?
Sunday, February 2, 2020
Drivers do not pay for roads
A report published earlier this year confirms, in tremendous detail, a very basic fact of transportation that’s widely disbelieved: Drivers don’t come close to paying for the costs of the roads they use. Published jointly by the Frontier Group and the U.S. PIRG Education Fund, “Who Pays for Roads?” exposes the myth that drivers are covering what they’re using.https://www.theatlantic.com/business/archive/2015/10/driving-true-costs/412237/
Academic study shows how US law favors autos and driving
A century ago, captains of industry and their allies in government launched a social experiment in urban America: the abandonment of mass transit in favor of a new personal technology, the private automobile. Decades of investment in this shift have created a car-centric landscape with Dickensian consequences.https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3345366
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