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Originally Posted by Everest209
Subsidies or not, I doubt anyone else is putting that much money into green energy.
We'll all be gone, but I wish I could see coal and oil lovers explanation when everything is ran by green energy in 100 years.
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It's inevitable that renewable energy will emerge as the only source of energy, to think otherwise would be naive. You don't run the bus off a cliff in the meantime.
Being able to compete against fossil fuels is huge plum to pick so advancements over the coming decades will be substantial. Having said that these subsidies may actually be having the opposite effect. If Uncle Sam is going to make up the difference there isn't a whole lot of incentive there to push the envelope and then you have other issues where companies may not want to get involved.
Here a great quote from Exxon's CEO from a few years back:
Quote:
Exxon Mobil: We Like Renewable Energy Subsidies. Wink, wink. - Environmental Capital - WSJ
“If I wanted to kill [tax subsidies], the thing to do is for Exxon Mobil to go and invest heavily in them and then Congress would immediately cancel the tax subsidy. Actually what they would do is they would just cancel it for us,” said Mr.Tillerson, during the annual analyst meeting at the New York Stock Exchange.
He added: “In reality, that is what I fear would happen. So we are not going to go into investments that are dependent on a government providing a tax system to make them viable.”
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Since then Exxon has made a significant investment in algae bio fuels but you can bet there is something to it if they are pursuing it. The question is this, why should Exxon's algae product have to compete against something like the mandated ethanol which is a complete failure and always will be.
Now lets say we lift the mandate on ehthanol, where does this leave all the people invested in it over the last few decades with the understanding Uncle Sam has their back?
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