You Pay More Taxes Than Exxon Mobil
Joe Brewer
1.2K23

How are you defining “subsidy”? Normally, when I hear these large numbers for “subsidies” to fossil fuel bandied about, what they are talking about is normal write-downs on depreciation of equipment, perhaps write-downs on depletion of oil fields. But these are DEDUCTIONS from what the oil companies have to pay, they are not money “taxed from one party and given to another”. And these deductions are just commonsense accounting, perfectly fair measures that apply to ALL industries, not just fossil fuels. If you redefine “subsidy” to mean exclusively money “paid by taxpayers and then given to oil companies as part of the government annual budget” the figure dwindles down to practically nothing.

This article would be a lot better if they gave a clear breakown as to what these “subsidies” were.

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