Fossil fuels get too many government handouts. Biden wants to cut them off.

[Yo_Mama_Been_Loggin]

One of the great ironies of climate politics is that America continues to subsidize — to the tune of billions of dollars a year — the very industries that are most responsible for the warming of the planet. Biden wants to put an end to that.

His American Jobs Plan, released last week, recognizes that if the US wants to hit decarbonization targets, and get climate change under control, cutting off government support for fossil fuels is a logical first step. The proposal takes aim at tax preferences, loopholes, and laws that allow fossil fuel companies to dodge costs and avoid cleaning up their pollution.

As part of the tax reform section of the plan, removing preferential treatment for oil, gas, and coal corporations would also free up federal dollars to support dozens of other climate initiatives, for which Biden has proposed around $1 trillion in investment.

But prying away these perks from the industry has been challenging in the past. President Barack Obama and congressional Democrats tried in vain to slice out subsidies, ultimately hitting Republican roadblocks.

https://www.msn.com/en-us/money/markets/fossil-fuels-get-too-many-government-handouts-biden-wants-to-cut-them-off/ar-BB1fkkoU?ocid=DELLDHP

[PoliticAverse]

1. "ultimately hitting Republican roadblocks" - must not have had 50 democratic votes

to be included in the reconciliation bills that passed.

[Karadeniz]

2. I've googled total subsidies given to fossil fuel and never could find a bottom line. Suspicious!!!

[MichMan]

3. Just raise gas taxes by a couple dollars a gallon

People will flock to get rid of their pickups and SUV for electric.

[mac2766]

4. No. That would kill the economy.

Not until EVs are cheap and we're using them as a society should we over-tax the American population with additional taxes.

What you're proposing is yet another tax on the poor. What we need to do is reduce the grotesque amounts of money going to the wealthy.

[MichMan]

5. How long do you think we should wait to adress climate change?

[mac2766]

6. The OPs statement was related to subsidies.

As for climate change. One really huge thing that needs to be taken into consideration are all of the lights in our country that are left on over-night. NYC, Las Vegas, Many many other cities. That would be a good start. I believe until we get really serious, we won't really be addressing climate change.

EVs are one part of the problem - reducing carbon emissions by way of doing away with ICE vehicles as much as possible.

Placing a solar water heater on every single rooftop in the US. Placing solar panels on as many roof-tops as possible in the US. Adding wind and hydro power wherever we can.

But again, the OP was about subsidies. Subsidies are in place to help reduce the price that consumers pay for certain products, including fuel for ICE vehicles. Now that crude oil is being traded on the world market, oil companies are allowing gasoline prices to be affected by the market and speculation. Notice how the price per barrel of crude oil has little affect on the per gallon price of gas.

Again... don't tax the poor and middle class to pay for projects needed to address climate change. Tax those that have caused the damage by reducing the amount of public money that they're receiving in the form of subsidies. Make EVs and renewable energy available to the masses in a real way by subsidising those industries instead, and turn the damned lights off.

[MichMan]

7. I am enough of a realist to understand that people will continue to buy large ICE vehicles

as long as gasoline prices are relatively low. I live in a rural area and every other vehicle is either a full size pickup or SUV because people prefer them.

[mac2766]

8. Ford is coming out with EVs in a big way over the next

few years. Including the F150. Things are going to change in that area, but it took Elon Musk to get people to understand that it could be done. And giving the technology away in an effort to get car companies to get on board.

The US is a backward country. We're so far behind Europe and China. We need the infrastructure bill to pass. We need some huge changes, and we need to spend money where it needs to be spent. What we don't want to do is over tax the poor and middle class in doing so. That includes sales taxes, property taxes, fuel taxes, sin taxes, etc.