The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

taxes  tax-deductions  subsidies  spr34  renewable-energy  energy-taxes 

Kyle Isakower

Kyle Isakower
Posted April 2, 2012

Update: The author has changed the article, without noting so. Original article hereThe new article suffers from many the same problems in that it fails to note that the majority of the money involved is through government efforts to lower prices in developing countries.  As the IEA notes ending this support will shift "the burden of high prices from government budgets to individual consumers…" and that “…low-income households are likely to be disproportionately affected by the removal…”

We see a lot of false arguments about “subsidies” for the oil and natural gas industry, but this tweet caught us by surprise...

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taxes  offshore-drilling  natural-gas  liquid-fuels  gulf-of-mexico  domestic-energy  anwr  access 

Kyle Isakower

Kyle Isakower
Posted March 16, 2012

Yesterday President Obama gave a campaign speech centered around energy policy.  In it he said:

“There’s a problem with a strategy that only relies on drilling and that is, America uses more than 20 percent of the world’s oil.  If we drilled every square inch of this country -- so we went to your house and we went to the National Mall and we put up those rigs everywhere -- we’d still have only 2 percent of the world’s known oil reserves.  Let’s say we miss something -- maybe it’s 3 percent instead of two.  We’re using 20; we have two.  Now, you don’t need to be getting an excellent education at Prince George’s Community College to know that we’ve got a math problem here.  I help out Sasha occasionally with her math homework and I know that if you’ve got two and you’ve got 20, there’s a gap.  (Laughter.)  There’s a gap, right?”

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