SN,
Which tax breaks are they and how do the differ from any other business? Tax breaks are not subsidies.
We have a Frankenstein monster of a tax system, which allow politicians to reward their friends allies. I would be very happy with zero corporate tax and a consumption individuals tax...all the games go away. All corporations do is a act as tax collection agency for the government. Only people pay taxes.
Again, what does oil have to do with power generation?
A "subsidy" is, by definition, any monetary assistance, be it a direct payment, tax relief, grant, etc to a particular group. Allowing a $4 billion per year tax break to oil companies is a
subsidy. Regardless of how anyone thinks the tax system
should be, this is what it is based on the current rules. If you're concerned about the deficit, or about fairness, or about the rich manipulating government, or about subsidizing an industry with tax money, this should concern you.
The oil companies also produce natural gas, which is the prime fossil fuel competition for solar power. So yes, it's related to the solar industry. Just as you're concerned with subsidizing the solar industry, you should be concerned with subsidizing the oil & gas industry (the largest industry in the world). We, the taxpayers are $4 billion per year less in revenue that would otherwise be collected without these special breaks given to the oil and gas industry. The nuclear industry is also highly subsidized with a wide variety of assistance from research to waste disposal. And I agree that ethanol is oversubsidized, which demonstrates the power of agribusiness. A little help would be fine, but it's crowding out other alternatives such as methanol produced from waste.
It amazes how people can be okay with subsidizing large established industries year after year, but if the government wants to help to help kick start a growing industry by helping a homeowner or business put solar panels up, that's communism or socialism or whatever the latest buzz word is.
I think it's fine to help jump start industries that have compelling promise to improve our society such as clean renewable solar energy or high efficiency cars. It's like training wheels until they can grow up into mass production and compete with mature industries. Pretty much every government in the world does this, so we'd be at a disadvantage if we didn't. But these should be temporary, certainly the largest and most profitable companies in the world shouldn't need handouts from taxpayers.
