[OFB Cafe] Bio Fuels

[Derek Broughton]

On July 22, 2008 01:45:40 Timothy Butler wrote:
> > You don't have a freaking clue what US oil companies really make
> > because it's not all reported on SEC filings like is required for
> > any other multinational company or industry.  Obama says he wants to
> > close this tax loophole, but he'll never do it because Big Oil is
> > WAY more powerful than any leader of any nation on earth.  The term
> > "being over a barrel" takes on a new meaning when it comes to the
> > control Big Oil has over the world economy and the political system.

How long do you figure Venezuela can hold out, Chris?

> Oh yes, in a time when gas prices are rising rapidly, the ideal
> solution is to increase taxation on the oil companies so they have yet
> another reason to raise prices. Makes sense to me!

Actually, it does.  Oil is subsidized by your government and mine - and make 
no mistake, exempting a company from a tax is a subsidy.  Consequently, no 
alternative energy sources have a chance to compete in the open market.  
Remove the subsidies from oil, and Chris's biofuels would at least get a fair 
break.  Whether it's true or not that ethanol and biodiesel could help the 
energy crunch, it'll never have a chance with current oil subsidies.
-- 
derek