Sunday, February 13, 2011

The article is very interesting, particularly in that it addresses what I think is the major problem of energy in the United States: Lobbyists. The power of big oil and gas company’s lobbying groups allow the companies to basically run rampant through the government regardless of the amount of pollution they might potentially cause. They are in the control seat as tax cuts and subsidies are handed out to energy companies regardless of the amount of CO2 their products put in the air. In the current economic situation, with the current deficit of the government, tax breaks and voucher programs to big gas and oil companies is absolutely absurd. Though I am not a fan of subsidies of subsidies to industries that already have some of the largest profits in the world I do think that it is necessary for some energy producing areas to have subsidies. I am not a fan of the idea that these subsidies will last forever, but I think that it is necessary for companies to be able to use new technologies that might not be able to run quite as affordably but that are much greener without the fear of going bankrupt. I am, in essence, a fan of subsidies that go towards the energy industries that are carbon free. The current “global environmental crisis” is due in large part to the massive amount of carbon dioxide being emitted into the air due to the production of energy. If non-carbon burning energy sources receive subsidies now it will allow them to expand and invest in great technologies that will allow them to be competitive in the near future. Their growth will also allow the US to eventually put a cap on carbon emissions that would not so substantially hurt the energy sector that electricity prices would shoot through the roof rendering us in economic downfall.

I truly believe that with the current deficit of the government the US needs to significantly stop its tax breaks toward massive companies. There is no reason why a company that turns such a substantial profit truly needs to receive taxpayer money, or not to have its own taxes, just to stay afloat. Sure it might decrease its profits, but if you cut tax break and subsidies to the fossil fuels, yet they remain in carbon friendly energy sources those larges companies will start investing more money in the carbon friendly energy sources in order to keep their tax incentives. Overall by cutting subsidies to fossil fuel energy sources, yet letting some remain for eco friendly energy sources, the US government can save money and the environmental will be greatly helped.

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